Economics

Last week was one of the worst weeks in the history of the US stock market. Thursday’s plunge was the worst one-day loss other than the crash of 1987. Friday’s recovery was stunning as well but big rallies are typical of bear markets and that is, unfortunately, where we...

As I sit here Monday evening with the Dow having closed down 2000 points and the 10-year Treasury yield around 0.5%, the title of this update seems utterly ridiculous. With the new coronavirus still spreading and a collapse in oil prices threatening the entire shale oil industry, recession is now the expected outcome. Most...

Alhambra CEO Joe Calhoun explains why investors should follow the advice of the ancient Greeks and their Delphic Maxims.

Alhambra CEO Joe Calhoun talks about investor psychology toward current markets and how investor foibles never change. He also discusses the uptrend in the 10-Year Treasury and the Dollar.

I went to the crossroad, fell down on my kneesI went to the crossroad, fell down on my kneesasked the lord above "have mercy, now save poor bob, if you please"Yeoo, standin' at the crossroad, tried to flag a rideooo eee, i tried to flag a ridedidn't nobody seem...

The headline says up 4.5% but that was almost entirely due to a surge in aircraft orders. Ex-transportation, orders were up just 0.1% and core capital goods were down after three straight up months. Read the rest at Econoday  

Is Jerome Powell as tough as he thinks he is? Alhambra CEO Joe Calhoun has his thoughts, plus surprises last week in housing, especially in the refi market.

Good, bad, or ugly? Alhambra CEO discusses the untold reality of Quantitative Easing.

Have we entered a new bull market? Was the 35% pullback in the S&P 500 in March the fastest bear market in history? Or is this just a continuation of the bull market that started in 2009, interrupted by a rather large correction? Bull markets and bear markets are...

Alhambra CEO Joe Calhoun gives a refresher on nominal and real interest rates and what they're saying right now about the investor fear factor.