Forbes reports their list of Billionaires has grown dramatically recently as both stock market and cryptocurrency valuations continue to rise. The percentage of stock held by the wealthy is at record highs. All these people are now the more interesting to tax in Biden’s eyes. This (briefly) spooked the market last week.
The Fed could be purposely ignoring inflationary pressures from housing and commodities. Lumber and Iron Ore are on fire! How long will it take for the Fed to move? Jim Grant thinks that will happen sooner than expected.
Bullish market seasonality has hit a wall. As we enter the weak 6-month period, sell signals arise on major indexes and bonds start to look attractive.