Over a 30-year career as a sell side analyst, John covered the structured finance and credit markets before serving as a corporate market strategist. In recent years, he has moved into a global strategist role.
Over a 30-year career as a sell side analyst, John covered the structured finance and credit markets before serving as a corporate market strategist. In recent years, he has moved into a global strategist role.
Equities | US
John Tierney
Summary With the Ides of March over, investors are pondering the implications of last week’s hot inflation prints and another runup in Treasury yields. Our take is that equities stay in a narrow range until either inflation cools or the economy/employment slows, giving the Federal Reserve (Fed) cover to cut rates. Oracle Corp. caught a […]
John Tierney
Summary We continue to see tech company outlooks come up short, with hopes for an AI bonanza delayed to later this year. Investor disappointment helped fuel Friday’s equity selloff. In the retail sector, discount and off-price vendors report strong beats and good outlooks, while full price companies are struggling. Regardless of outlook, most retailers said […]
John Tierney
Summary In a disappointing week for companies pinning their hopes on AI, three major players cut their 2024 outlooks. It may be a while before AI becomes a widespread profitable business model. Most regional banks rallied modestly after the latest New York Community Bank (NYCB) revelations and writedowns, showing NYCB is on its own now. […]
John Tierney
Summary We review the key macro themes emerging from Q1 earnings season. No companies are talking about recession risks now. But their outlooks are also mostly consistent with sluggish 1.5-2.0% GDP growth. Consumers are spending on staples and discretionary services but are still not buying goods. AI hardware may be red hot, but the broader […]
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