Rosenberg Round-Up Rosenberg Research

This week, we cover the trifecta of soft data that’s sent stocks to new highs. Our spotlight shines on Emerging Market stocks, and what the (eventual) fall in global interest rates will mean for them.

The Week in Review (1:21) — Why softening U.S. data has pushed the S&P 500 to new highs

The Spotlight (8:42) — Not your grandfather’s Emerging Markets

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This week, what a slowdown in nonfarm payrolls meant for markets, and how to position for the opportunity in America’s aging capital stock.

The Week in Review (1:06) — A rare weak employment report and the Swedish Riksbank cuts rates

The Week Ahead (7:19) — CPI and retail sales headline a big week for macro data

The Spotlight (7:41) — Who will benefit from the replacement and repair of America’s private capital stock?

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This week, we look back on Powell’s pushback, shine our spotlight on the labor market data, and drop by Canada to check in on growth prospects.

The Week in Review (1:30) — Powell holds the line on rates guidance, and what earnings reports are telling us about the U.S. consumer

The Week Ahead (7:32) — The Bank of England meeting headlines a crowded international calendar

The Spotlight (8:47) — We dive deep into the U.S. labor market, from coming NFP revisions to industry-level slack

Canada Corner (15:35) — Canada has not dodged a soft landing

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This week, we dig into the combination of weak growth and hot consumer price inflation that nobody saw coming in the U.S. GDP report. Our spotlight is focused on Central Bank gold buying.

The Week in Review (0:54) — Our take on Q1 GDP, U.S. equities, and the risks in private markets

The Week Ahead (8:10) — Nonfarm payrolls will headline a busy week

The Spotlight (8:33) — Sustained central bank gold buying keeps our long-term $3,000 target intact

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We welcome author, investor, activist, thinker, and co-CIO of advisory firm Evergreen Gavekal, David "The Haymaker" Hay onto the Rosenberg Round-Up. 

Our interview with Dave marks the inaugural episode of a series of standalone interviews that will run alongside the weekly Roundup on a (roughly) 1-month cadence. In the series, we'll take you deeper on a range of topics with recognized experts. 

In this episode, Dave frames today's main market themes (from AI to Gold to fiscal policy to the Fed) from the perspective of broad cycles of economic and social history, and explains how the median investor is positioned "exactly improperly" for the risk environment that has built over the past decade.

For more on David Hay visit his Substack, "Haymaker": https://haymaker.substack.com/

For a 30-day free trial of our research, click here: https://web.rosenbergresearch.com/RosenbergRoundupTrial

This week, our spotlight is on our recent report on the wealth effects and its role as the driving force behind spending.

The Week in Review (1:19) — Markets at an inflection point as Fed cuts get pushed back

The Spotlight (8:22) — Wealth effects have put the wind in the U.S. consumer’s sails

Canada Corner (13:20) — We give the 2024 Budget a D- grade

For a 30-day free trial of our research, click here: ⁠⁠
https://web.rosenbergresearch.com/RosenbergRoundupTrial⁠