From the desk of Willie Delwiche.

Identifying recessions is an academic exercise for historians. It usually requires the passage of time to gain the necessary perspective. The December 2007 business...

From the desk of Willie Delwiche.

While there were some hints of a “throwing the baby out with the bathwater” type of environment yesterday, the selling for now seems more consistent with evidence...

From the desk of Willie Delwiche.

They are cracks more than crevices at this point, but the fissures are there. And they are becoming more widespread. Signs of financial (and economic) stress are on...

From the desk of Willie Delwiche.

In last week's Perspectives piece, we opted not to wade into the discussion of...

From the desk of Willie Delwiche.

A risk off environment persists. Leadership areas are coming under...

From the desk of Willie Delwiche.

It’s hard to get away from the crowd when you only ask the questions that everyone else is. When we ask better questions, we get more relevant answers. The questions...

From the desk of Willie Delwiche.

Key Takeaways:

• Lack of follow through evident beneath the surface
• Risk Off Environment persists...

From the desk of Willie Delwiche.

Key Takeaways:

• 2022...

From the desk of Willie Delwiche.

Key Takeaways:

• Stocks struggle when the Fed is aggressive
• Pace of tightening likely to be more...

From the desk of Willie Delwiche.

Key Takeaways:

• Range-O-Meter points to Risk Off environment
• Risk On index remains stalled, Risk...

From the desk of Willie Delwiche.

Key Takeaways:

• Flat-footed Fed hurrying to get policy in harmony with reality
• German yields...

From the desk of Willie Delwiche.

Key Takeaways:

• Risk pairs moving toward risk off extremes
• Risk On is weakening more than Risk...

From the desk of Willie Delwiche.

Key Takeaways:

• Corporate bond yield momentum a headwind for stocks 
• Growth and inflation leave...

From the desk of Willie Delwiche.

The cyclical weight of the evidence tilts toward...

From the desk of Willie Delwiche.

Key Takeaways:

• Tactical model argues for caution heading into 2022
• Absence of a breadth thrust...

From the desk of Willie Delwiche.

Key Takeaways:

• Yield curve flattening in anticipation of rate hikes
• Elevated inflation usually...

From the desk of Willie Delwiche.

With volatility on the rise and increased evidence...

From the desk of Willie Delwiche.

Key Takeaways:

• Bond yields rising as pressure mounts for Fed to raise rates
• From hints of new...

From the desk of Willie Delwiche.

Key Takeaways:

• Inflation...

From the desk of Willie Delwiche.

Key Takeaways:

• Despite macro concerns, evidence tilts toward opportunity
• Energy sector strength benefitting...

From the desk of Willie Delwiche.

We’ve made some changes to our ASC+Plus Dynamic Portfolios. 

With the...

From the desk of Willie Delwiche.

Key Takeaways:

• China weakness has meant moving away from EEM for Emerging Market Exposure
• New...

From the desk of Willie Delwiche.

Key Takeaways:

• Custom Risk On / Risk Off Ratio breaking out of an 8-month consolidation
• Risk On...

From the desk of Willie Delwiche.

Key Takeaways:

• Analysts and economists no longer chasing reality higher
• Downward earnings...