Fireside Charts: COVID-19 Update as States Reopen, and Abysmal Retail Sales and Industrial Production Figures
May 18, 2020Now that nearly all states have some plan in place to reopen, we are kicking off this week with a COVID-19 update. Despite the fact that testing is still significantly limited and the ...
Fireside Charts: Slowing of COVID-19, Alphabet Soup of Recovery Predictions, Balance Sheet as Percent of GDP
May 15, 2020Happy Friday! As we wrap up the week we take a look at some positive news on the COVID-19 front. New cases in most European countries, in addition to China and South Korea, are ...
Fireside Charts: Top Concerns Among Equity Investors, Mortgage Delinquencies and Record-Setting Economic Data
May 13, 2020Stocks fell into the close today on bleak statements from Fed Chair Jerome Powell this morning in an online speech. He described the future as "highly uncertain and subject to ...
Fireside Charts: Equities Rise As Unemployment Hits New Highs... What's Driving the Rally?
May 11, 2020The U.S. unemployment rate clocked in at a disastrous 14.7% on Friday, hitting its highest point since the Depression. If that wasn't bad enough, the report shows that the U.S. lost ...
Fireside Charts: Unemployment, Unbothered Equities, and the Uncertain Path Forward
May 8, 2020It's jobs report day and we hate to break it to you, but the situation is... grim. The U.S. Bureau of Labor Statistics released its ...
Fireside Charts: Grim Forecasts, the Equity Rally, and Reignited Tensions with China
May 6, 2020Halfway into an earnings season for the history books and analysts—much like the rest of the world—are still struggling to reach a consensus on what the future holds. The ...
Fireside Charts: Rent's Due, the 'Shale Death Zone', and a Warning Signal from the Bond Market
May 4, 2020If this month's rent or mortgage payment hurt a little more than usual, you aren't alone. Small businesses are struggling to keep up with expenses following the first full month since ...
Fireside Charts: The GDP Hit, Unemployment, and a Look Ahead
May 1, 2020U.S. GDP fell at a 4.8% annual rate in Q1, posting its first quarterly drop in over half a decade and it's worst quarterly drop since the financial crisis. Consumer spending, the main ...
Bond ETF’s Price Divergence From NAV: How Do We Tell Which Was “Right”?
April 30, 2020“What happened to fixed income ETFs in the March sell-off?" So far, we’ve kept quiet on the subject. Not due to a lack of opinions, but because we felt we didn’t have much to add to the discussion. Our many fund sponsor and trading partners (SSGA, iShares, Invesco, and Jane Street to name a few) have done a fantastic job of providing detailed analyses on the subject. Anything we could have produced over the past month would have been nothing more than a regurgitation of work produced by others. So, what’s changed? Why have we decided, after the fact, to throw our hat ...
Fireside Charts: Forward P/E Ratio and EPS Projections, Equity Return Trends, and the Food Supply Chain
April 29, 2020It's a big day for the markets with Q1 GDP data, an FOMC meeting, and earnings reports from industry leaders Microsoft and Facebook. Amid a 4.8% contraction in GDP—the sharpest since ...
