New Years Nuggets

Some Nuggets ... Hopefully Golden!

Happy New Year! Just a few economic & financial market nuggets to ring in the New Year including: gap between U.S and foreign bond yields remains wide, Emerging Markets or Frontier Markets as China substitutes, the High Beta/Low Volatility equity relative reaches highest level since before the 2008-09 crisis, mortgage rates could yet decline substantially, animal spirit stocks are finally making a move, an aggregate put/call ratio says buy, and employment is key to yields!

All that glitters in 2026 will not golden, so watch out for the false gold!