Market & Macro Musings

                                                                    Blessed is he who expects nothing, for he shall never be disappointed                                                                                                                                                              – Alexander Pope It has been said that to know where you are going, you have to know where you have been.  A

Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria                                                                                                                                                 

Major U.S. equity indices are all in positive territory this year, and while growth stocks are leading the way, even the broader S&P 500 is up a remarkable ~15% (Figure 1).  While this appears impressive, not all

After an unexpectedly strong market performance in January, market sentiment refocused on the backdrop of tightening monetary policy and its economic implications in February.  Then in March, a crisis of confidence in the health of the US