To our surprise, the US economy has not entered a recession over the past two years. This is not because a recession has been avoided altogether but because the current economic cycle has been ...
Rising bond yields and fixed-income volatility will not break the current economic cycle or trigger a systemic crash in risk assets unless the U.S. 10-year Treasury yield (US10Y) breaches 5.5%, ...
Industry life cycle analysis is a key part of fundamental analysis that examines an industry’s current phase to project ...
However, warning signs are mounting that suggest stocks may have come too far, too fast. For instance, the S&P 500's Shiller price-to-earnings (P/E) ratio is sitting at its third-priciest reading in ...
Business-cycle signals can inform ETF tilts, but on their own cannot reliably time markets. Sector and factor leadership has historically varied across cycles, with growth-focused leading in ...
The Federal Reserve’s rate cuts in 2024 reignited a debate familiar to investors: do easing cycles extend expansions or signal looming recession? With inflation still a threat, the Fed’s next move ...
The S&P 500 has outperformed the Russell 2000 since March 2021. Small-cap stocks’ tendency to outperform during recessions and early-stage expansions may be related to interest rate sensitivity. Over ...
As the U.S. economy shrinks, fears and predictions of a recession continue to grow. New Commerce Department data shows that the country's gross domestic product (GDP) contracted at an annual rate of 0 ...
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