Summer travel is more than just sightseeing; it’s a critical economic driver for many countries. The European Commission estimates that tourism makes up to 10% of the EU’s annual GDP and as much as 25% for some individual countries as this week’s chart illustrates.… Read More
Railroads, plastic, cars, oil, landlines, internet. AI might be new, but innovations that spur secular investment cycles are not. Companies in these high growth industries have long leveraged their first mover advantage to develop seemingly impenetrable moats, allowing some to dominate the S&P 500’s top 10 podium for decades.… Read More
2024 began with consensus expectations of a weaker U.S. dollar due to stretched valuations. However, nearly halfway through the year, the dollar index (DXY) has gained around 4.4% year-to-date, raising questions if the consensus has changed.
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An inverted yield curve occurs when yields on short-term Treasuries exceed those offered by long-term Treasuries. Historically, an inversion between the 2-year and 10-year Treasuries has been viewed as a warning sign of an economic downturn, although this time, for now, appears to be different.… Read More
What to Know
The unofficial start of summer is just around the corner, and with it comes an anticipated increase in travelers by plane and car.
As temperatures rise, the National Highway Traffic Safety Administration is reminding summer drivers of some tips to keep travelers safe on the road and in the heat particularly if you are traveling by car to your vacation destination or decide to take on road trips.… Read More
The European Central Bank (ECB) began hiking rates in August 2022, five months after the Fed. Since then, bothcentral banks have largely raised rates in tandem. Last week, however, the ECB diverged from its usual alignmentwith the Fed and cut rates by 25bps to 3.75%.… Read More
Brent crude oil prices closed at $82 per barrel on Friday, and while they have backed off from their springtime peak, they still look high relative to where they were five years ago, before the pandemic. However, it’s important to recognize that almost all prices and wage rates are significantly higher today compared to five years ago.… Read More
Last week, investors received relatively hawkish minutes of the latest FOMC meeting, raising concerns about potential further rate hikes. Additionally, an emerging divergence between the economic and inflation surprise indices prompted fears of stagflation. However, the broader context suggests that these concerns are unwarranted.… Read More
Studies find exercise improves your mood, helps depression and eases anxiety
For all the focus on looking and feeling fit, it would be easy to miss how much of a boon exercise is for mental health.
Besides increasing muscle tone and endurance, cardio and strength training can, quite literally, change your mind.… Read More
Falling inflation in 2H23 encouraged a more accommodative tone from Fed officials. In fact, Fed sentiment, as measured by J.P. Morgan’s Fed Hawk-Dove Speech Score, slowly shifted from hawkish toward a more neutral stance in the fourth quarter. However, after a string of hot CPI prints in 1Q24, heightened inflation uncertainty has caused Fed officials to reassert their hawkish tone.… Read More