Market Overview

It was another weak day for the markets. The S&P 500 closed lower by 39 basis points, but the weakness was more pronounced in the RSP equal-weight index, down 80 basis points. The Dow dropped for...

Several updated nowcasts for US economic activity in the fourth quarter have been revised sharply higher recently, but the median estimate barely changed, based on the several data points from a...

The Federal Reserve’s last rate decision of the year is this week, and another rate cut is on the horizon. The market is pricing in a 97% chance of a 25 basis point cut, so that’s pretty much...

The US Dollar Index is up over 6% this year, almost all attributable to a post-election surge. As many developed nations show stagnant economic growth or even contraction, the U.S. economy continues...

Last Thursday, we wrote, "After today's PPI, we won't be surprised if Fed officials plant a story in The Wall Street Journal over the weekend titled something like "Fed Officials Might Vote To Pause...

Look up in the sky. It's a bird. It's a plane. It's Superman! Nope, it's lots of drones flying over New Jersey, New York, and Maryland typically between 6 p.m. and 11 p.m. They are reportedly the...

First Comes The Fed, Then Santa Last week, we discussed that the risk to the markets was the annual portfolio rebalancing process. To wit: “With the year-end approaching, portfolio managers need to...

Taylor Swift’s “The Eras Tour” ended yesterday in Vancouver. The extraordinary singer started this sixth concert tour in Glendale, Arizona on March 17, 2023. The tour consisted of 149 shows spanning...

On Wednesday, the Bank of Canada cut its key benchmark rate by 50bps. They have now cut by 150 bps in 2024, compared to what will likely be 100 bps for the Fed after next week’s meeting. Unlike the...

The S&P 500 fell by about 50 basis points yesterday, with the NASDAQ down roughly 65 basis points. PPI came in slightly hotter on the headline numbers, but as I reviewed with members earlier, if...

Welcome to Syz Bank's 2025 Global Outlook! 2024 has been a remarkable year for global markets, with equity indices, Gold, and Bitcoin reaching or nearing all-time highs. As we prepare to step into...

Wednesday's CPI report was seemingly the last hurdle for the Fed to cut interest rates. With the CPI index matching Wall Street forecasts, the Fed Funds futures market now implies a 97% chance the...

US core inflation posted a fourth consecutive 0.3% print, showing that progress towards the Fed inflation goal has clearly stalled. Nonetheless, the Fed’s favored measure of inflation is doing a...

The CPI numbers yesterday largely came in line. But when you took a deeper look at them and rounded them out, you realize they were in line but on the hotter side of inline, meaning the...