Author Archives: Lenore Hawkins, Chief Macro Strategist

About Lenore Hawkins, Chief Macro Strategist

Lenore Hawkins serves as the Chief Macro Strategist for Tematica Research. With over 20 years of experience in finance, strategic planning, risk management, asset valuation and operations optimization, her focus is primarily on macroeconomic influences and identification of those long-term themes that create investing headwinds or tailwinds.
Weekly Wrap: The Sounds of Uncertainty

Weekly Wrap: The Sounds of Uncertainty

This year is all about change — new fiscal policy, new leadership at the Federal Reserve, a new tone when it comes to trade and foreign policy and a market dynamic that is nothing like last year’s. Despite all the excitement around the impact of tax cuts on the economy, consumer spending is contracting. Despite all the talk of a tight housing market, builders aren’t exactly chomping at the bit with housing starts. Yes folks, hello volatility my old friend.

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Debt, Debt and More Debt

Debt, Debt and More Debt

  While U.S. Consumer credit increased less than expected in January, we are concerned with what we are seeing in consumer loans and debt in general across the world. Auto Loans With our Cash-Strapped Consumer investing theme, the average amount financed and the duration of new auto loans continues to rise – same car, bigger […]

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All the Talk of an Accelerating Economy and Rising Inflation Just Does Not Add Up

All the Talk of an Accelerating Economy and Rising Inflation Just Does Not Add Up

The recent data isn’t supporting the narrative of accelerating global growth and inflation while equities continue to experience higher volatility. What does it mean for stocks, bonds and yields? Glad you asked! Here’s my take on why all the talk on an accelerating economy and rising inflation just doesn’t add up when you look at the data.

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We are back to “bad-news-is-good-news” and “good-news-is-great-news”

We are back to “bad-news-is-good-news” and “good-news-is-great-news”

Thursday’s report on retail sales reasonably should have given the market at least some pause, but the market ignored the disappointing numbers and kept moving on up. The coming months and year are likely to be more challenging for investors than 2017, which is all the more reason to have solid investment strategies based on long-term themes.

The bottom line for the week is equities appear to have shrugged off the concerns from earlier in the month, 3-4 Fed hikes are increasingly likely and wage growth for much of the country remains stubbornly elusive despite the tightening labor market. We believe we have a decent grasp on what is behind the wage conundrum, but that is a topic for another day. As for what to expect from the markets in the coming weeks, we suspect that we are not out of the woods and that another retest of the recent lows is likely before moving on to make new highs.

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