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Monday, November 22, 2021

If you listen to radio adds encouraging you to refinance your mortgage, you may think that interest rates will be going higher imminently. You would get that same opinion from a lot of the financial market pundits who postulate that,...

Monday, November 8, 2021

There is a lot of talk in the economic/financial news about inflation – both what we are looking at today and expectations of future inflation. First let’s agree on the definition of inflation because we hear many different...

Monday, November 1, 2021

In case you missed our post last week, we discussed the policies of the world’s central banks – specifically the inflation of asset prices worldwide. https://andorracapital.com/historical-ratio-divergence/ We don’t...

Monday, October 25, 2021

Many strange things are permeating our financial markets even as hopes of a “return to normal” are still the goal – at least on surface level for reasonable participants. Of course, the more control of the financial...

Monday, October 11, 2021

The launch of cryptocurrencies began with Bitcoin in 2008 and at that point it had very little fanfare. The cost per Bitcoin was just over $.01. The origins of Bitcoin are still very mysterious even to this day. The “founder...

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Monday, September 27, 2021

With the worst of the Covid issue seeming to be in the rear-view mirror, and the Federal Reserve (and the rest of the world’s central banks) continuing to provide more “liquidity” than is reasonably necessary, we...

Monday, September 20, 2021

After a summer hiatus and without posting our weekly writeup, we are back after it and preparing for the fall. Hopefully all readers are healthy and happy and ready for the holiday season – of course Covid-free as the weather...

Monday, June 28, 2021

When we are describing conditions in the financial markets, interest rates are of very high concern and commonly mentioned at the forefront. We need to understand that there are many different interest rates in the world economy, but...

Monday, June 14, 2021

There has been much discussion and debate in recent weeks whether the current blast of inflation is permanent – or as the Fed has intimated, transitory because of Covid-19 supply chain disruptions. Surprisingly, there has been a...

Monday, June 7, 2021

In our weekly post, we do our best to make sense of the complex world of the financial markets we are all invested in between stocks, bonds, real estate and commodities. The financial world is immensely complex with billions of...

Monday, April 26, 2021

We are obviously in interesting times whether we are talking about political turmoil, weather extremes or the “pandemic” that doesn’t seem to be going away. If we are talking about national debt in financial terms we...

Monday, April 19, 2021

Strange things are afoot at the Circle K… We know that this is not a perfect time to reference a second rate 80s comedy movie - Bill and Ted’s Excellent Adventure – we are supposed to be serious when writing about...

Monday, April 12, 2021

Earnings season begins this week, and the world markets are trying to balance the enthusiasm of a post-covid recovery and the reported data of lingering “pandemic.” In the week ending last Friday April 9, the numbers...

Monday, April 5, 2021

The most important price in the entire world is the price of money as defined by U.S. interest rates. We continually talk about the manipulation of the world’s asset markets by central banks and ground zero of that market...

Monday, March 29, 2021

In this weekly post, we have repeatedly discussed our concerns about our Federal Reserve buying assets in the open market (mostly bonds) and keeping interest rates artificially low for years now. Historically low interest rates have...

Monday, March 15, 2021

The speed with which the U.S. economy has recovered after the Covid-19 shock has surprised most observers. According to Morgan Stanley estimates, the U.S. will reach pre-crisis output levels by the end of the current quarter. They...

Monday, March 1, 2021

The Treasury yield curve has steepened significantly in the last couple weeks, as bond investors sold because of fears of higher inflation in the future. The Federal Reserve continues to pump an excess of “stimulus” into...

Tuesday, February 2, 2021

The biggest news in the financial markets recently comes from an unusual situation in the stock of Gamestop. A week ago, this was a $40 stock, with the company losing well over $4 a share which is pretty typical in the retail world...

Tuesday, January 26, 2021

With about 25% of the S&P 500 companies having reported 4th quarter earnings so far this month, we have had some good news and some bad news. According to Bank of America, the good news is that 73% of companies have beaten expectations...

Monday, January 4, 2021

From all walks of life all around the world, most people were happy to close the books on 2020. The pandemic, international military saber rattling, wild asset market gyrations and a crazy U.S. presidential election are just the tip of...

Tuesday, December 22, 2020

A consistent theme in our weekly post has been a concern over potential weakness in the U.S. Dollar. This anxiety is largely due to the performance of the Federal Reserve which has been dismal for decades. They have simply provided...

Monday, December 7, 2020

Worldwide stock and bond markets continue to defy gravity in the wake of a resurgence of the Corona virus. Economic numbers are mixed to weak and as government stimulus has waned in recent months – but the stock indexes are full...

Monday, November 30, 2020

We all have financial responsibilities that can become a balancing act. Some that are significant to us while others aren’t. With competing financial obligations, there never seems to be enough money to go around and retirement...

Tuesday, November 24, 2020

We have the Thanksgiving holiday this week and many market observers seem ready for the break. We have seen such outrageous political headlines for quite some time now, that we are certainly not the only investors tired of reading that...

Monday, November 16, 2020

Pfizer has hit the headlines over the last two weeks with news of a vaccine for the corona virus. The effectiveness of the vaccine for the “general population” appears to be 90-95% which is a grand-slam home run....

Monday, November 2, 2020

Of course, the election is first and foremost on the minds of most Americans and especially investors. However, the coming week will be much more than just the election. It is a "huge week" for investors with a Fed decision, 128...

Monday, October 26, 2020

The numbers of infected cases across the globe is coming back in another wave as the Northern Hemisphere starts to turn cold. This isn’t a surprise, of course. When looking at historical pandemics often subsequent waves turned...

Monday, October 12, 2020

Right now, the stock market is ping-ponging up and down on the news of whether or not the White House and Congress can agree on the next stimulus package. While the future of the economy being dependent upon more “stimulus”...

Monday, October 5, 2020

The upcoming week should be fairly quiet for the financial markets with China on holiday until Friday and the Vice-Presidential debate on Wednesday being the highlight event in the U.S. The only interest rate decision from the G20...

Monday, September 28, 2020

The stock market as defined by the S&P 500 has pulled back 10% recently, the NASDAQ more like 14%. Many regard this as a well overdue pullback and now staring at a number of challenges, the markets may have a difficult time rallying to...

Monday, August 31, 2020

Last week at the Federal Reserve “meeting” in Jackson Hole (actually done remotely via Zoom) much of the discussion revolved around the Fed “mandate” of institution/initiating/managing 2% inflation. We put...

Monday, August 24, 2020

If the fear of outliving your retirement savings really haunts you, then looking into income sources that will keep going as long as you do may not be such a bad idea. You can potentially alleviate this financial anxiety by considering...

Monday, August 17, 2020

Election years historically bring uncertainty to the stock market, and uncertainty often translates to economic volatility. While the changing of the guard will have an impact on your retirement, changes you make today can determine if...

Monday, August 10, 2020

Stephanie Kelton, a professor at Stony Brook University recently turned up the apple cart in normal economic/monetary thinking with her book The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy. Kelton...

Monday, August 3, 2020

Individual states have all begun to reopen to some degree or the after the coronavirus thrust the country into lockdown starting in March. Nothing moves in a straight line, so now some states are pausing plans to re-open and a few are...

Monday, July 27, 2020

Everyone knows that there is a disconnect between the positioning of the major U.S. stock indexes and the performance of the economy. The question is whether that gap is going to be corrected by an economic rebound or by the stock...

Monday, July 20, 2020

We are now entering 2nd quarter earnings season for all publicly traded companies. This is where the rubber will meet the road for an answer to the dichotomy of tepid economic numbers along with a strong stock market that has launched...

Tuesday, July 14, 2020

The impact of COVID-19 is colossal and everyone is feeling the impact. We all know someone who needs extra care during this pandemic. Do you have the financial resources and peace of mind in place to help? Perhaps you are a child...

Monday, June 15, 2020

The roller coaster in the stock market continues with volatility last week returning to the type of panic moves as we had in March. Trying to make sense of markets with economic numbers in full out depression territory and a...

Monday, June 8, 2020

For years we have been writing about the expansion of debt that has been taken on world-wide by countries, companies, and individuals. That trend of debt accumulation has exploded higher in the last few months in response to the...

Tuesday, June 2, 2020

The shortened week, which began with a powerful two-day rally of trading, was enough to drive the markets into another week of solid gains.The Dow Jones Industrial Average rose 3.75%, while the Standard & Poor’s 500 advanced...

Tuesday, May 26, 2020

Risk on is the name of the investing game right now with the S&P 500 back above the 3000 level and the ten-year treasury yields sneaking back up over .7%. Bad economic reports and flare-ups political between the U.S. and China have...

Monday, May 11, 2020

If you are looking at a chart of the U.S. stock market indexes, you may think that the Corona Virus challenges are behind us and we are back to a full-steam-ahead sort of economy. The fundamentals of the economy, however, show a...

Monday, April 27, 2020

Tumultuous market trading has settled down over the last couple weeks with the VIX (volatility index) settling well back below forty. However, this week we will be bombarded with the peak week of Q1 earnings as well as announcements...

Tuesday, April 21, 2020

The turmoil in financial markets has been epic to say the least over the last two months. The coronavirus has effectively halted the world economy – and after the longest expansion in U.S. economic history, U.S. banks are...

Monday, April 13, 2020

After a torrid week of gravity defying gains in the world’s stock indexes last week, we see a dose of reality hit the markets for open this week. That reality will be the earnings season that is kicking off and the question is...

Monday, April 6, 2020

With news organizations reporting nearly nothing save the coronavirus updates, most of the world is on hold waiting for indications of a timeline for the pandemic to subside. India, China, France, Italy, New Zealand, Poland, and the UK...

Monday, March 30, 2020

The rollercoaster ride of the stock market has hit some unprecedented levels recently. From the high print of late February, U.S. stock indexes sold off 30 something percent – in one month. The situation overseas has been worse...

Monday, March 16, 2020

The world has seen asset market turmoil over the last few weeks fueled by panic over the coronavirus situation. The fear is largely driven by the virus’ capacity to transmit quickly with little person to person contact as neither...

Monday, March 9, 2020

As of the writing of this article the world-wide numbers on the Corona Virus aren’t pretty. The total number infected has risen to 100,034 and the death total stands at 3,825. Schools are closing, companies are cancelling travel...

Monday, March 2, 2020

One week has turned the entire financial world upside down and now everyone is scratching their heads wondering – what’s next?Coming immediately off an all-time high, in rough numbers the S&P 500 sold off 15% in about a...

Monday, January 27, 2020

Monetary authorities across the world have slashed interest rates 80 times over the last 12 months and printed upwards of $1 trillion over four months to counter the economic slowdown that is plaguing especially the developed world. As...

Monday, January 6, 2020

The new year is rolling in with a lot of changes both in the economic/pollical world and with us as commentators on it! First and foremost, we at SES Services just moved offices – although within the same building. We moved from...

Monday, December 16, 2019

Interest rates have been coming down in America – and worldwide for that matter – since 1981 when Fed Chair Paul Volcker rocketed the Federal Funds Rate to 20%. As interest rates are, in essence the cost of money, things...

Monday, December 2, 2019

Artificially low interest rates for the last decade, as we have written repeatedly have been one of the driving forces of asset prices going higher. One of the mechanisms through which these low rates drive stock prices higher is...

Monday, November 18, 2019

The stock market surged to new all-time highs this week with the Dow Jones Industrial Average closing over 28,000 for the first time. Economic numbers this week, however, were actually quite dismal including poor retail sales numbers...

Monday, November 4, 2019

The stock market is surging to new highs at least partially because of a positive update on the Chinese trade conflict. A senior White House official says the deal is almost done – but talks continue on tech transfer and IP...

Monday, October 28, 2019

Federal Reserve Chairman Powell is expected to deliver another U.S. interest rate cut at the FED meeting on Wednesday this week. Recent U.S. economic data has been mixed, with weakness among manufacturers contrasting with resilient...

Monday, October 14, 2019

The month of September set the new all-time record in world-wide corporate bond issuance – topping $300 billion for the first time. Issuance for the entire year is on pace for a new all-time record of about $2 trillion. Even...

Monday, September 16, 2019

Mario Draghi, president of the ECB announced a massive new bond-buying program last Thursday in a bid to stimulate the ailing euro zone economy. The central bank’s quantitative easing (QE) program will entail 20 billion euros per...

Monday, August 26, 2019

Until last month, the Federal Reserve has been on a tightening strategy since late 2015. The Fed was decreasing the size of its balance sheet and the Fed Funds rate was increased from essentially zero to the 2.25%-2.5% range. The...