TIMELY MARKET UPDATES
Service Sector Growth, Potential Inflation Triggers, and Has the 10-Year UST Hit Bottom?
The January Markit flash PMI report offered two pleasant surprises last week with manufacturing growth coming in above expectations and even the battered services sector surprising to the upside…
Stimulus, Continued Strength from Manufacturing, and Breaking Down Recent Equity Gains
Stimulus remains a major talking point this week as the Biden administration settles in on Pennsylvania Ave and unemployment numbers continue to raise concerns. Manufacturing continues to show signs…
VIDEO: BCM’s 4Q20 Quarterly Market Update Call with the PM
It was a year of firsts and unprecedented events, but—at a high level—2020 was almost the perfect continuation of the trends established in the decade that preceded it. Still, important differences…
Federal Debt Soars, CAPE Ratio Projects Negative Earnings, and Signals from High Yield
Federal debt saw a $4.5 billion+ year-over-year climb in 2020 and now sits at over 130% of U.S. GDP. More stimulus funding is a central talking point in Washington as the Biden administration takes…
Housing Boom Continues, Momentum Factor Composition, and the Break Between Commodities & Services CPI
The pandemic housing boom has continued into 2021 as mortgage applications start the year on a strong note. And the composition of the momentum factor—one of the only factors to outperform…
A Check in with the Early WFH Winners, Climbing Equity Valuations, and a Surprise from Small Caps
Technology’s been one of the big winners of the work-from-home economy, but the market cap of negative-earning IT firms is approaching staggering heights… And large caps were another winner during…
BCM 4Q20 Market Commentary: Looking Back to Move Forward—Seeking Higher Ground in an Imperfect World
Much will be written about the challenges, difficulties, pain and suffering endured by humanity in 2020. We would like to focus on some of the good that came out of last year’s strife: Our Democracy…
Payrolls Slump, Equities Hit New Highs, and a Quick Consult with ‘Dr. Copper’
Nonfarm payrolls reversed course in December, posting losses for the first time since May. The report did, however, include upward revisions for October and November, and the December losses were…
Service Sector Surprises to the Upside, Growing Inflation Expectations, and Could Small Caps Finally Be Poised to Climb?
The ISM Services PMI offered a pleasant surprise this week as the U.S. service sector continues to expand at a promising pace. Inflation expectations are climbing as officials continue their…
Manufacturing Recovery Continues, Bracing for Trend Reversals, and Bankruptcies Approach 2009 Territory
Manufacturing is kicking off 2021 on a positive note—coming in well-above pre-pandemic levels both domestically and in several international markets. Meanwhile, we’re left wondering when trends in…