Get Ready for Services Prices to Accelerate Higher January 22, 2021

By Bryce Coward, CFA in Economy, Markets

We’re going to keep this post short and sweet because the charts speak for themselves. Today, preliminary Markit PMIs were released for January. Headline numbers ticked up, which is great and shows a continued expansion into the new year. The release also showed that input…

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What is the Best Hedge to Hot Inflation? January 15, 2021

By Bryce Coward, CFA in Uncategorized

This week investors learned of President-elect Joe Biden’s initial bid for the next round of COVID-19 relief. The number came in at $1.9tn. Importantly, included in this figure is mainly covid relief as opposed to a longer-term fiscal package that will be heavily weighted to…

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Spotlight Sandvik: The Future Will Be Printed in 3D January 11, 2021

By Knowledge Leaders Team in Knowledge Leaders

One behavior demonstrated by innovative companies is a tendency to embrace change, to apply the tools of the digital revolution to drive innovation within companies that then permeates entire industries. One example of an old school company embracing new tools is Sandvik. Based in Stockholm,…

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More Evidence of Stagflation in the PMIs December 16, 2020

By Bryce Coward, CFA in Economy

Markit’s preliminary December PMIs were released today and our takeaway is that they show the risk of some kind of stagflation is gaining a little steam. In both the manufacturing and services surveys, new business/new orders dropped while input prices rose. In the case of…

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Breakeven Inflation is Breaking Out December 04, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

Inflation expectations as priced by the Treasury market are hitting 18 month highs just now. As the reader can see, inflation expectations across all treasury maturities are at cycle highs. This is happening coincident with growing expectations for the $908bn bipartisan stimulus deal and widespread…

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