Market Signals and Macro Analysis by Michael A. Gayed
Michael A. Gayed: Colleges can now replace accreditors and new accreditors skip two-year wait
Colleges can now change their accrediting organizations, and newly established accreditors no longer face a mandatory two-year waiting period before becoming eligible, according to Michael A. ...
Investors can seek higher returns with Free Markets ETF as regulations relax, Michael A. Gayed notes
Michael A. Gayed stated that the Free Markets ETF (FMKT) offers people a way to invest in companies that are likely to generate outsized returns as regulatory rules become more ...
Michael A. Gayed: Market turmoil in 2020 escalated rapidly, with signals emerging before headlines
Michael A. Gayed described how the 2020 spread blowout escalated from calm to crisis within weeks, noting that waiting for confirmation left people underwater. He added that in his view, the $JOJO ...
Credit spreads peak months after recession onset, Michael A. Gayed notes
Credit spreads have historically reached their peaks 5 to 7 months after the start of a recession, and rarely before, according to Michael A. Gayed. Gayed cautioned that by the time widening ...
Michael A. Gayed: Competition reduced U.S. airline fares between 1980 and 2005
Median round-trip U.S. airline fares fell from $414 in 1980 to $256 in 2005, both in 2005 dollars, according to data from the Government Accountability Office. Trips over 1,500 miles saw a 52 ...
Michael A. Gayed: Most of stock market is in a bear market
Michael A. Gayed stated that most of the stock market is actually experiencing a flat or outright bear market. He criticized the perception that broader market conditions are better than they ...
S&P 500 drops and 10-year yield sees sharpest decline since March 2023, Michael A. Gayed notes
The S&P 500 fell from 7,757 to 7,663, while the yield on the 10-year U.S. Treasury dropped from 5.13% to 4.96%, marking the largest one-day decline in the 10-year yield since March 2023. Chip ...
Michael A. Gayed: S&P 500 gains 0.6% as 10-year closes at 5.13%
The S&P 500 rose 0.6% to 7,757, while the 10-year yield closed at 5.13%. Michael A. Gayed added that stocks are pricing growth and bonds are pricing the discount rate, stating that one of these ...
Cheniere trades 6 percent below its 52-week high, Michael A. Gayed notes
Cheniere is trading at $282.54, which is 6% below its 52-week high, with a price-to-earnings ratio of 21 times trailing earnings and its guidance has been raised. Michael A. Gayed added that the ...
Michael A. Gayed: United Airlines trades at $96.72, 30% below 52-week high, earnings due Tuesday
United Airlines (UAL) is currently priced at $96.72, which is 30% below its 52-week high and trades at 9 times trailing earnings. The company is scheduled to report earnings on Tuesday after ...
Smith & Wesson suppressor revenue jumped 95.6% in H1, Michael A. Gayed notes
Smith & Wesson reported a 44% reduction in debt over one year and a 95.6% increase in suppressor revenue during the first half, though the share of sales from suppressors was not disclosed. ...
Michael A. Gayed: IMF data show price caps cost up to 22 times more than targeted cash aid
The International Monetary Fund (IMF) estimated that implementing price caps cost 3 to 22 times more than providing targeted cash for comparable protection, and less than 20 cents of each euro ...
Stocks decline and bonds rise as yields drop, Michael A. Gayed notes
Stocks declined on Thursday while bonds were in demand, with yields on the 10-year falling from 5.33% on Wednesday night to 5.06% on Thursday, according to Bloomberg. Michael A. Gayed commented ...
Michael A. Gayed: Stocks fell 1.1 percent on CPI day as bonds rallied
Stocks declined by 1.1 percent on CPI day while the 10-year U.S. Treasury yield decreased by 14 basis points from its post-CPI high, according to Investopedia. Michael A. Gayed described this ...
Bond market yields exceed U.S. central bank rate, Michael A. Gayed notes
Yields in the bond market are currently higher than the U.S. central bank’s rate, with the Federal Reserve at 3.88% and the 10-year yield at 5.24%. Michael A. Gayed states that the bond market ...
Michael A. Gayed: Fed cut 50 basis points in September 2024 as trimmed-mean inflation reached 2.88%
The Federal Reserve cut interest rates by 50 basis points in September 2024 when trimmed-mean inflation was 2.88%. Michael A. Gayed reported that trimmed-mean inflation is now 2.19%, and the ...
PSEC yields 21% while trading far below NAV, Michael A. Gayed notes
Michael A. Gayed highlights that PSEC is currently paying a 21% yield while trading at a 65% discount to its net asset value (NAV). He points out that the market appears skeptical about the ...
Michael A. Gayed: BTZ yields 10.78 percent with 9.93 percent discount on 18.6-year credit
Michael A. Gayed highlights BTZ's 10.78 percent yield with a 9.93 percent discount on an 18.6-year credit instrument. The strategy is described as a pure rates trade, using 36 percent leverage ...
TEI posts 17.6% NAV return and raises distribution, Michael A. Gayed notes
Michael A. Gayed notes that TEI achieved a 17.6% NAV return and is currently priced at 90 cents on the dollar. TEI also increased its distribution by 13.7% and is trading at a 10% discount to its ...
Michael A. Gayed: Free Markets ETF closes at $21.59 after minor decline
Michael A. Gayed reports that the Free Markets ETF, trading under FMKT, ended the day at $21.59, reflecting a decrease of 0.57%. Despite the slight pullback, he highlights that FMKT remains the ...
APLD reports $3.0 billion capex and $116 million in revenue, Michael A. Gayed notes
Michael A. Gayed raises concerns about APLD’s capital expenditure and revenue expectations. He highlights that the company reported $3.0 billion of capex last year and anticipates $116 million ...
