Market Melt-Up: Caution – Sentiment in Nosebleed Territory
Since my last column, the Dow Jones Industrial Average (DJIA) did indeed hit 20,000 and has since gone well beyond. Most of the post-election run-up initially appeared to have occurred in the November 8th to December 20th period when the index went from 18,333 to 19,975, a rise of 1,642 points (7.9%). Over the next […]
In the Slow Growth World: Is “Full” Employment No Longer a National Priority?
At the end of January, we learned that the preliminary GDP growth estimate for Q4/16 was 1.9% and that labor costs and wages rose less than expected (despite the fact that the minimum wage rose in 19 states). Given the “animal spirits” so evident in the post-election markets, such data may be a shock to […]