by John Sparks | Feb 5, 2026 | News
Three developments shaped the narrative over the last month: A pause in Federal Reserve (“Fed”) easing, President Trump’s announcement of a new Fed Chair nominee, and a sharp selloff in commodity markets. Silver’s price action stood out, falling 33% initially. Given...
by John Sparks | Jan 6, 2026 | News
Entering 2026, we outline our base case outlook for the US equity market and broad economy: The Equity Market: The AI trade in 2026 First referencing the prior regime shift in technology, the winners of the internet era were asset-light, primarily benefiting from...
by alex@integrityam.co.za | Apr 3, 2025 | News
Weakness expected in US consumption Since 2020 personal consumption has accounted for more than four-fifths of all GDP growth. Now though, this key growth driver is beginning to falter as US consumption data indicates falling real restaurant sales, building materials...
by alex@integrityam.co.za | Oct 3, 2024 | News
A “Wile E. Coyote” moment Last week the US Federal Reserve (“Fed”) cut rates by 50 bps, and market participants cheered in response. In fact, the market’s reaction was similar to January 2001 and September 2007, months that marked the start of two of the largest...
by alex@integrityam.co.za | Sep 3, 2024 | News
Strictly speaking, the Sahm rule was not triggered Last month global news was awash with headlines declaring that the Sahm rule had been triggered and that a US recession was upon us. Strictly speaking, the unemployment rate did not increase enough to trigger the Sahm...