TIMELY MARKET UPDATES
Inflation Review: Manufacturers Push Through Costs, Mentions on Earnings Calls Triple, and Maintaining Perspective
Let’s talk inflation. As producer price inflation climbs—PPI saw a decade-high year-over-year increase in March—manufacturers are starting to push those costs through to consumers. CPI has been…
VIDEO: BCM’s 1Q21 Quarterly Market Update Call with the PM
Economic growth picked up and the market trended higher in Q1, but it wasn’t without some chop as investors grappled with concern about rising interest rates and inflation. Meanwhile, the housing boom…
Services PMI Hits Record High, the Market Leadership Fight Continues, and High-Yield Spreads Narrow
After failing to keep pace with the manufacturing recovery through much of 2020, the U.S. Services PMI has joined the Manufacturing PMI in hitting a new record high as vaccinations roll on…
Record Manufacturing Activity, Financial Crisis Echoes, and the Bank of Canada Signals Stimulus Scale Back
We’ve spoken a lot about the rotation from large caps to small caps this year, but a look at the S&P 500® Index shows an even more granular change taking place. Since the announcement of the…
Changing Leadership, Bearish Sentiment From Insiders, and Leaving the Era of Negative Yields Behind
We’ve spoken a lot about the rotation from large caps to small caps this year, but a look at the S&P 500® Index shows an even more granular change taking place. Since the announcement of the…
More Growth from Manufacturing and Housing Sectors, Debt-to-GDP Ratio Hits New Record, and Effects of Climbing Interest Rates
Manufacturing growth has accelerated in both New York and Philadelphia in yet another sign of strength from the sector. The housing sector also remains strong and saw residential construction…
Retail Sales Growth Hits 10-Month High, the Market Grows More Expensive, and Treasury Yields Slide
U.S. retail sales growth soared past expectations in March, climbing to 9.8% MoM—and a record 27.7% YoY—after a temporary dip during February’s deep freeze. Business IT spending as also…
A Closer Look at PPI, Fresh Records Moving Into Earnings Season, and China Huarong’s Bond Rout Deepens
The U.S. saw a substantially higher PPI reading than expected for March—when the index saw its second highest year-over-year gain on record—driven largely by chemical and lumbar prices. Though this…
BCM 1Q21 Market Commentary: A Fundamentally Different Market Environment
There are ample reasons to be optimistic about the direction of the economy in the near term, but the direction of security markets is much murkier. It seems all but certain that this is a fundamentally…
Accelerating Economic Growth, Tech Narrows Underperformance, and Is a Trend Reversal Approaching?
March PPI numbers topped forecasts with a year-over-year reading of 4.2%—the largest annual rise since September 2011. Fed Chairman Powell acknowledged that outlook has “brightened substantially”…