* The Fed focus in 2023…
* 60/40 strategy…tough year
* ROW bankers play catch up
* Recession Watch – watch SCI’s…

* Is the consumer “alive and well”?
* What is “SLOOS”? We take a look…
* Recession Watch…a history of
earnings revisions

* Our take on the Fed minutes
* Bond market rallies on CPI report
* FTX collapse…hard to look away

* The “red ripple” and Trump
* October CPI finally brings relief
* King dollar in trend change…
* Inflation – sticky or flexible?

* Reasons for the recent rally
* Industrial Production is impressive
* Red wave is spreading
* Biden’s energy policy

* Waiting on 10/28 PCE report
* Fed policy and overseas bond markets
* What is your bull case?
* High Yield at 9%…

* CPI report is troubling
* PPI input increases slowing
* QT and “excess reserves”
* How is the consumer holding up?

* August CPI report disappoints
* QT ramps up…
* Europe’s energy issue
* Mid-term elections on the horizon

* Powell is talking tough, no pivot foreseen
* Sign posts for falling inflation are present
* Dollar strength a headwind for EM

* Inflation prints subside for the time being…
* Size and style are drivers in recent rally
* Fixed Income market sells the news of tame inflation

* Recession thoughts and the consumer
* The Inflation Reduction Act is a misnomer
* 2Q22 and 2023 earnings revisions
* Small caps rally as high yields contract

* Bond market volatility still below Covid levels
* Credit cycle is benign to date
* US $ – time to go the other way?

* Very few upbeat economic signals…
* Semi inventories may be normalizing soon
* WHAT IF…Ukraine and Russia talk peace

* M2 growth is moderating
* Small cap sentiment and valuation interesting
* US $ – stronger for longer?

* Focus on wage growth as it tracks PCE
* Energy equities valuations attractive
* US market continues to outperform ROW