Economy Killers? | June 11, 2022

Economy Killers? The CPI report for May was released on Friday and it showed that headline inflation rose 8.6% from May of last year, compared with 8.3% in April. Core inflation, that is, excluding food and energy, rose at 6.0% from last year, compared with 6.2% in April. This was a little higher than expectations […]
READ POST

It’s Going to Be a Crash Landing | June 7, 2022

Bloomberg Interview | It’s Going to Be a Crash Landing Phil Palumbo, CEO, CIO, and Founder of Palumbo Wealth Management, joins Bloomberg to discuss the Fed’s actions, inflation and markets. Please Click Here to Listen.   Palumbo Wealth Management (PWM) is a registered investment advisor. Advisory services are only offered to clients or prospective clients […]
READ POST

SNAP Judgement | May 28, 2022

SNAP Judgment After reporting slightly disappointing earnings on April 21, just over a month later, on May 23, SNAP, Inc. (owner of social media app SnapChat – ask your kids if you are not familiar) had this to say: “Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster […]
READ POST

Looking for One Foot Bars | May 14, 2022

Looking for One Foot Bars After a difficult start to 2022, the tone of markets has become decidedly worse over the last 2 weeks, notwithstanding the rally on Friday, as markets appear to be shifting their focus from an inflation problem to a growth problem (i.e. a looming recession). The S&P 500 is now down […]
READ POST

Even A Broken Clock is Right Twice a Day | May 7, 2022

Even A Broken Clock is Right Twice a Day While central bankers are very smart, they are far from infallible. Throughout the history of central banks, policy errors are common. The choice central banks are making now is between focusing on core inflation (excluding food and energy). This allows food and energy inflation to run […]
READ POST

Refinitiv Newscasts: Trading at Noon Interview | May 5, 2022

Please Click Here to listen to Philip Palumbo, Founder, CEO, and CIO of Palumbo Wealth Management as he weighs in on the NASDAQ’s performance and rising yields.   Palumbo Wealth Management (PWM) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where PWM and its representatives are properly licensed or […]
READ POST

This is Not the Recession You are Looking For | April 30, 2022

This is Not the Recession You are Looking For Q1 preliminary GDP estimate shocks at -1.4%, vs. expectations of about +1.0% We have been saying growth is decelerating, but Q1 is not as bad as it first appears PCE (Personal Consumption Expenditures) have reverted to pre-pandemic levels The pandemic recovery continues to make data twitchy […]
READ POST