Kenny Polcari is founder and managing partner at Kace Capital Advisors and chief market strategist at Slatestone Wealth. He is a well-known TV personality appearing on Fox Business and CNBC and is often quoted in major print media outlets. Mr. Polcari writes a daily morning thoughts missive that is an informative, engaging, and entertaining look at global markets. He also converts the daily written piece into a daily video piece as an alternative option for subscribers. Prior to that, Mr. Polcari was a managing director at O'Neil Securities/Member NYSE. He built the US equities business at ICAP and ran the NYSE trading floor division on behalf of Salomon Brothers. Mr. Polcari is an Advisory Board member of The Headstrong Project.
The debt ceiling drama is dragging on as the temperature in the room rises. Stocks continue to struggle, but stick to the plan and do not make emotional decisions, advises Kenny Polcari, managing partner of Kace Capital Advisors LLC.
So, it happened. Rates around the world just went up. First it was the RBA last Tuesday, then it was the Fed on Wednesday, and then the ECB on Thursday. In the end, the tone remains negative, with concerns rising over what the next Fed move will be and what the economic data will tell us, explains Kenny Polcari, managing partner of Kace Capital Advisors LLC.
ADP revealed a ‘slowdown’ in job creation: 145k vs. the expected 210k new jobs in March. Coupled with the slowdown in the JOLTS report, and coupled with weaker manufacturing PMIs, that is pointing to a slowing economy with still stubbornly high inflation. And THAT is suggesting that we are moving into the next phase of the economic cycle – Stagflation, writes Kenny Polcari, managing partner at Kace Captial Advisors LLC.
What happened this week? Stocks get walloped after Fed Chairman “JJ” Powell raised rates by 25 basis points. Testimony about bank deposit guarantees from Treasury Secretary Janet Yellen takes some of the blame. Investors should get their “shopping lists” handy in response, recommends Kenny Polcari, managing partners at Kace Capital Advisors LLC.