Friday

Things fall apart; the center cannot hold – W. B. Yeats

First, happy Friday. You made it through another week and are likely to embark on a long weekend.  Monday is Memorial Day, so Atlas and the markets are closed.  Summer is about to unofficially begin and the driving season along with it.  Many Americans will find themselves at the petrol station filling up as they add miles to the odometer. 

"Prediction is very difficult, especially about the future."

Long ago I was told the tale of an ancient shaman who, approached by a woman who seemed incapable of bearing a child, suggested she sleep with her husband on a lion’s hide.  Lo and behold she gave birth shortly thereafter to a son.  A curious friend who also was barren asked her what caused the miracle.  Thereupon she too visited the shaman, was given a tiger’s hide,

America’s central bank increased the overnight interest rate (called the Fed Funds Rate) on Wednesday.  This is the Federal Reserve’s sixth hike since they began raising rates in December 2015.  At the time, Janet Yellen led the institution; four subsequent increases happened under her watch.  On February 5, 2018, Jerome Powell assumed the office, and he now has his f

Happy Friday! Markets continued swinging throughout the week and could probably use some rest this weekend. After a relatively quiet period last year, 2018 has ushered in a new regime of volatility. However, this is quite standard; it was 2017’s quiescence which was abnormal. Market indicators continue suggesting the path of least resistance is up, but Atlas is not complacent.

Atlas has noticed a pattern in recent economic data.  Our economy’s growth rate pushed through the 3.0 percent level (adjusted for inflation) during the middle quarters of last year; since then, the indicators have not been as strong.  Slower might best describe the recent developments.