Cyclicals rule. After getting trounced in Q4, year-to-date more cyclically oriented stocks and sectors have trounced “defensive”, less-cyclically exposed names. The trend has been even more pronounced during the past month.
Despite being up 25% from December 2018 lows, Russ discusses the factors that remain supportive of the energy sector.
With growth soft, financial conditions are key for investors, Russ explains.
Russ discusses the divergence between rising stock prices and falling bond yields. What gives and can it continue?
The recent U.S. equity rally has coincided with a drop in volatility. But can that continue? Russ discusses.
Russ explains the mystery of why gold is performing surprisingly well while stocks are rallying.
It’s not just stocks: bonds and commodities are up this year as well. Russ discusses whether than can continue.
Russ discusses why energy, despite rallying – and outperforming -- this year, still looks like a value.
Markets have bounced back from December’s selloff. Russ discusses whether investors have shifted sentiment too quickly.
Russ discusses why the dollar has stabilized and what it means for markets.
After December’s rout, are stocks now reasonably valued? Russ’ answer may surprise you.
It may seem like a poor environment for EM stocks, but they outperformed in the recent volatility. Russ explains why.
There are few signs of a recession, but slowing growth is having an impact. Russ explains why and what steps to take.
Unless oil prices collapse, energy stocks now appear to be cheap, as Russ explains.
After the October selloff, stocks got cheaper. But that might not be enough for a continued rebound, Russ suggests.
Russ discusses why gold, not a popular asset class until recently, has become so as a hedge.
Credit markets are still relatively supportive of stocks, but at the margins, less so. Russ discusses the implications.
Russ takes a look at whether stocks and bonds will move in sync again and what to do if they will.
Investors may be ready to abandon emerging markets, but as Russ discusses, the potential is there for a sizeable rebound.
While momentum stocks have prevailed since 2016, is quality about to have its day? Possibly, if volatility continues to rise, as Russ discusses.
As Russ discusses, we remain in a strong dollar environment, which continues to have consequences for the market.
Data shows a solid economy, yet markets are acting like recession is around the corner. Russ explains why.
As Russ notes, in a world with few bargains, one stands out: Asia.
As Russ explains, dismal performance of emerging markets this year has make them look like a bargain again.
Value continues to look cheap, however predicting when it will begin to outperform is challenging. Russ suggests one potential catalyst: an unexpected acceleration in nominal economic growth.
Russ describes the signs that gold, notoriously difficult to assess, is starting to look cheap.
As Russ explains the key to asset returns in the first half of 2018 was the dollar, not interest rates.
Russ discusses why the energy sector still looks attractive, despite having struggled recently.
Russ discusses why economic conditions (for now) support low volatility in the markets.
Russ discusses why tech stocks are not only not in a bubble, but reasonably valued.
Russ explains why gold is not working as an effective equity hedge, despite higher volatility.
Is the era of easy financial conditions over? Not yet, says Russ.
Emerging market stocks and bonds are having a rough year, but Russ argues against abandoning the asset class.
Earnings are strong, markets less so. As Russ explains, investors are paying attention to valuations and the economy.
For most of the post-crisis period, defensive stocks have been expensive. Russ suggests that may have changed.
Prospects for a trade war are having an impact on markets, but for bargain hunters, stocks are still expensive. Russ suggests looking outside the U.S.
Many are pointing a finger at Washington for the recent spike in volatility. But, as Russ explains, the catalysts lie elsewhere.
Russ discusses why stocks can still thrive when consumers are confident, but frugal.
Markets are a function of reality meeting expectations. Russ discusses why the expectations are outpacing the reality.
Russ discusses why investors should worry less about higher interest rates and more about the volatility resulting from tighter financial conditions.
Markets have calmed somewhat, but make no mistake: Volatility is back. Russ discusses quality stocks can help in this environment.
Think rising interest rates and higher stock prices are like oil and water? Think again, says Russ, at least for the time being.
Russ reviews the landscape after the selloff and discusses how little has actually changed.
Russ discusses why the case for emerging market stocks right now simply rests on concept of solid global growth.
Russ discusses why the real economy and financial market conditions offer more clues about volatility than political noise.
Can markets repeat the outstanding performance of 2017? Russ discusses why credit market conditions are likely to provide the key clues.
Long-term interest rates remain stuck in a range that has defined the last six years. Russ discusses why 2018 may see more of the same.
Value stocks are cheap, relative to growth, but have lacked a catalyst to rally. Russ discusses why tax cuts could be that spark.
Gold has performed surprisingly well this year. Russ discusses why that might not be the case going forward, and it may be time to pare positions.
Stocks are expensive by most measures. Russ discusses why the bond market can impact whether that can be sustained.
