Michael Lebowitz's Comment & Analysis
A complete archive of Michael Lebowitz's articles, including current analysis & comment.
For months, we have been warning that the labor markets are not as strong as the BLS data attests. Six months ago, we wrote:
While labor market data is generally good, there are signs the labor...
President Trump has been incessantly pressuring Jerome Powell to cut rates ever since he took office. To wit, check out Trump’s latest post on Truth Social below. The Fed cut rates in late 2024 but...
In our recent article, “The Magnificent Seven Are Mediocre,” we pondered whether the stock market is entering a melt-up phase, where investors driven by extreme speculative behavior and hopes for...
The BEA reported that real GDP grew by 3.0% in the second quarter. Such is almost a percent better than the longer-run trend growth rate, and is a cause for optimism for some. However, first quarter...
Typically, in Monday’s Commentaries, we share a few paragraphs titled “The Week Ahead’ in a lower section. This week, the amount and importance of the data could have a meaningful impact on markets...
On May 6, 2010, the US stock markets dropped nearly 10% within minutes. What would be called a “flash crash” wasn’t caused by news, economic data, or a Fed policy decision. According to the U.S....
Recent surges in speculative stocks are among several indicators that retail traders are introducing a bit of euphoria to the stock market. In an interesting article, MarketWatch notes that Wall...
Fed Governor Christopher Waller was crystal clear in a speech on Thursday that he would like the Fed to cut rates in July. Importantly, consider the first line of his speech at NYU:
My purpose this...
It appears President Donald Trump set a test for the market to see what investors would think of him firing Jerome Powell. The bond and stock markets provided a swift answer to Trump’s test. The test...
In 2023, the “Magnificent Seven” (Nvidia (NASDAQ:NVDA), META, Tesla (NASDAQ:TSLA), Apple, Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Alphabet (NASDAQ:GOOG)) became a popular nickname for the...