Uncategorized

Click here for Return Expectations Next Six Months

Download our Quarterly Commentary for May 2023:  RIM_Q1_Commentary_F_541e84b0dd

Download Market Snaphot here. Last Week’s Summary: ▪ S&P 500 Index fell 0.24% ▪ International Equities fell 0.74% ▪ Emerging Markets fell 0.86% ▪ U.S. 10-Year Treasury Yield rose to 3.46% ▪ CPI fell to 4.9%; Core CPI fell to 5.5% ▪ Initial Jobless Claims rose to 264k ▪ PPI fell to 2.3%; Core PPI

Security Brokers and Dealers; Margin Accounts at Brokers and Dealers; Asset, Level Entering the danger zone for margin debt. Historically, when margin debt has reached these levels, a subsequent stock market correction occurred. Margin debt could be extended from here, but it looks close to maxing out.

Here are some of the highlights of credit growth in 2020: During the first nine months of 2020, Total Credit in the US expanded by $6.4 trillion. The previous full-year record for Credit Growth was $5 trillion in 2007. Total Credit now amounts to $82 Trillion. It has increased 82 times in just 54 years.

E-Commerce Bubble Compared to Other Bubbles: Chart The e-commerce bubble will likely continue to grow. However, it will reach a point in which it is unable to sustain the current growth rate of earnings and capital inflows, resulting in a significant short-term drawdown followed by sideways growth until e-commerce stock prices fully are reset. Source:

2-Year Yield Curve In Historically Vulnerable Territory The 2-year yield curve continues to steepen. Historically, over the last twenty years, as the yield curve steepened, this coincided with a drop in equities. The below chart overlays the 2-year yield curve with the S&P 500. We are around the point in which equities began a multi-year

U.S. Equity Evaluations Continue To Climb To Historic Highs The S&P Price to Earnings Ratio is currently at historic highs, suggesting extremely rich valuations and a possibility of an asset pricing reset in the coming years. P/E ratios are likely to follow historic precedent and revert to their historical average of 15x earnings. If so,