It is said that the economy is not the stock market. That is true; however, the stock market is critical to supporting household spending. In our contemporary K-shaped economy, where higher-income consumers have thrived while those with lower incomes have struggled, paying close attention to the link ... READ MORE >
stock market
CHART OF THE DAY: What story is the high-yield bond market telling us?
Changes in stock and high-yield bond valuation levels have diverged since the start of September, a shift after largely tracking each other since the beginning of 2020. Stocks reached a peak in early September and have since returned four straight weeks of decline through the end of last week. Although ... READ MORE >
CHART OF THE DAY: Financial conditions deteriorate as stock market pulls back
U.S. financial conditions have deteriorated in recent days as investors have pulled back on riskier assets, causing the S&P 500 to shed 4.3%, the Dow Jones Industrial Average to drop 3.32% and the NASDAQ to fall 6.1% over the past three trading sessions. As these conditions have eased, the risk to the ... READ MORE >