Central banks continue to press lower interest rates and force-feed liquidity into the financial system in the "hope" that it makes its way into the real economy. It hasn't worked before and this time is no different. Do not confuse rising asset prices with economic wealth... it's an illusion of leverage. Last week, equities extended […]

Last week, equities pushed higher to test new ATH's while bonds drifted lower but short of ideal targets. The US$ failed to confirm our bearish reversal (so far) and commodities remain range bound. This week has many potentially market moving events with the FOMC on deck (dovish expectations), Non Farm Payrolls, ISM Manufacturing and heavy […]

Global equities extended gains last week as the risk-on environment continued. US equities are testing triangle resistance and new ATH's. US bonds declined impulsively but the decline does not appear over. The US dollar finally broke lower impulsively to confirm a bigger picture change in trend. US equity markets are testing cycle highs with no […]

Hope springs eternal. Trump kicked the trade war can down the road with "promises" of a deal; the Fed quietly re-started QE and committed to buying short term paper to restore bank liquidity; and hopes of a Brexit deal squeezed Sterling shorts with no confirmation. The reality for markets is that we remain within a […]

Global economic growth continues to weaken as expected but markets are pinning their "hope" on increased central bank liquidity. Last week's US data confirmed the global weakening trend. Global CB's continue to signal further rate cuts and money printing to help support risk markets. Stay up to date with global economic trends here... https://marscapitalpartners.com/macro-notes/ US […]