Again, it's time to rotate back into the broad market. Really, Deck, so soon? Hear me out. Last month, as the negative seasonal period loomed, I began to get nervous about a bond market selloff. Now that it has arrived, I think it's time to reassess the market. What has changed? What threats remain? Is the bull market ending or just pausing? The key indicators of market health are deeply oversold. Unless there is a profit collapse, the market has sufficient fuel to continue

The constipated Bull seems to have been cured. Despite soaring Treasury bond yields, investors are being sucked back into the AI momentum trade. Interest rates matter, but earnings matter more, I guess. Yesterday saw a new potential earnings catalyst for the AI cycle. Meta's latest product breakthrough: Muse. I, like many others, had worried that the bond market would cause a larger correction than we have seen. Why did the 5% yield level turn out to be a paper tiger? Let's s

A newly cemented brick has been added to the wall of worry. Short-term rates are now rising. But that's not gonna stop the bull market. As I postulated in "Bad News, Bears" two weeks ago, the much-anticipated stock correction has now been avoided by a reassuring rate hike. I wrote: "So what if the Fed gets a strong inflation print this week? The vote to hike, obviously. And the speculative positioning covers their bets, thereby producing a curve-flattening bounce in the bond

Those of us looking for a major correction may soon be disappointed. What was shaping up as a garden-variety seasonal period of weakness has suddenly become unpredictable. Despite rolling over, stocks remain within 2% of all-time highs after a bounce mid-week. I can be accused of waffling now. I accept that. Nobody has a monopoly on the future. But I gotta call 'em like I see 'em. Stocks have come off the boil somewhat, as evidenced by the % above their 50-day average. Sidewa

Bad news makes headlines; good news makes money. Unfortunately for bond market participants, the headlines these days are all bad. The failed MOU and renewed war in Iran have rekindled inflationary pressures in commodities. New tariffs announced on Canadian goods have U.S. consumers bracing for more price hikes. The data center buildout has been a tsunami of supply in the credit market. Internationally, there is nowhere to hide. Global bond yields are simultaneously rising o