America’s Credit & Credibility

01/27/23 • 8 min

The United States hit a ceiling in which further borrowing is no longer permissible. It can borrow no more. Defaulting on its debt is officially possible. Formal notice was given to Congress by the Secretary of the Treasury. She estimates we have until June to address it before crisis sets in.

Previous Episode

Scoreboard - Earnings Season, A Dozen Eggs & Playoff Time

After a dismal 2022 for investors, the start to 2023 brought some green to the Market, not to mention a whole lot of rain to the Bay. It is Friday the 13th in the 2020s. We have to stay nimble and on our toes. You never know what's coming next...
Both stocks and bonds have been in rally mode. The stocks that got beat up the most last year have largely been leading the charge in this young year. The Dow and S&P logged back-to-back weekly gains. It has been nice to see this reversion. We don't think it lasts though. There's more work to be done in our minds to establish a defined bottom for the Stock Market. It's a process. We are prepared for more volatile price action in 2023, but we sure are enjoying this burst of green to start the year.

Next Episode

Earnings, the Economy & the Fed - Another Rapid Rundown

Let's start with this: It was the best January for the Stock Market since Covid. Taking it a step further, the Tech-heavy NASDAQ had its best start to the year since 2001. Then there's this: February has started off even stronger than January. There's still a tough road ahead in 2023, but it sure is nice seeing all this green on the screen again, don't you think?