Covenant Weekly Market Synopsis for August 24, 2018

August 27, 2018

Last Week Today: President Trump again criticized the Fed for raising interest rates, which seemed to have some effect in pushing the US Dollar lower early in the week. | Perceived legal problems for the President resulted in a minor risk-off trade on Tuesday when his former attorney pleaded guilty (implicating the President in the […]

Covenant Weekly Market Synopsis for August 17, 2018

August 20, 2018

Last Week Today. The crisis in Turkey combined with a local corruption scandal forced Argentina’s central bank to raise interest rates by 5% to 45% to arrest the decline in their peso. It was only last year that Argentina, a country that has defaulted on its debt six times in the previous 100 years, issued […]

Covenant Weekly Market Synopsis for August 10, 2018

August 13, 2018

Last Week Today:  Tesla’s CEO and major shareholder Elon Musk Tweeted the possibility of taking Tesla private at $420 per share – TSLA’s price jumped 11%; the SEC is investigating Musk’s claims that financing for the privatization was “secured” and several shareholder lawsuits have been filed relating to the veracity of the tweet. | China […]

Covenant Weekly Market Synopsis for July 20, 2018

July 23, 2018

Last Week Today: Federal Reserve Chair Jerome Powell gave his semiannual testimony to Congress, which can be summed up as: economy strong, interest rates to move higher. | In a CNBC interview and subsequent Tweets, President Trump expressed his view that the Fed should not raise interest rates. The President’s comments were notable for two […]

Covenant Weekly Market Synopsis for July 13, 2018

July 16, 2018

Last Week Today: Brett Kavanaugh was nominated to fill Anthony Kennedy’s Supreme Court seat. The announcement did not immediately impact markets, but Kavanaugh’s skepticism of regulatory agencies is consistent with President Trump’s goal of a small government and could prove beneficial to businesses in the long run. | Oil output in the U.S. topped 11 […]

Covenant Weekly Market Synopsis for June 22, 2018

June 25, 2018

Last Week Today (market-moving events): President Trump quadrupled-down on China, threatening tariffs on $200 billion more Chinese imports, on top of the $50 billion already announced; China announced they intend to reciprocate with tariffs on goods imported from the US; Trump threatened 20% tariffs on European automobiles. | OPEC’s members agreed to increase crude production […]

Covenant Weekly Market Synopsis for June 15, 2018

June 18, 2018

Last Week Today: The annual G-7 meeting concluded with fireworks as President Trump sharply criticized EU trade policies, and heard an earful himself from the other leaders criticizing U.S. tariffs. | President Trump and Supreme Leader Kim Jung-un’s historic meeting resulted in a suspension of US/South Korea joint military exercises, though sanctions on Korea will […]

Covenant Weekly Market Synopsis for June 8, 2018

June 11, 2018

Last Week Today: Former Fed Chair Ben Bernanke warned that the US economy will face a “Wile E. Coyote moment” in 2020 as the double-whammy of fading effects from the tax-cut stimulus are met with the impact of Fed interest rate hikes. | Mexico placed tariffs on $3 billion of U.S. goods (e.g., apples and […]

Covenant Weekly Synopsis for June 1, 2018

June 4, 2018

Last Week Today – Italian President Sergio Mattarella blocked anti-European Union coalition parties; the Trump administration caught the world (and investors) off-guard by imposing new tariffs on steel and aluminum imports from the EU, Canada, and Mexico; these same NAFTA partners retaliated with tariffs on US imports to their respective countries; nonfarm payrolls grew by […]

Covenant Weekly Synopsis for May 11, 2018

May 14, 2018

Last week today – Vladimir Putin inaugurated for his second consecutive (and fourth overall) Presidency of Russia; Kim Jong Un summoned to China for second time in two months (no doubt related to the upcoming summit between Trump and Kim); Trump withdrew from the Iran nuclear deal (despite pressure from France, Germany, and Britain); North […]