Archive - Macro4Micro

Synchrony as Consumer Credit Proxy: Steady as She Goes

Synchrony shows stable asset quality and interest margin resilience despite inflation and UST curve gyrations.

Oct 21 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 10-19-26

In a strange week for the asset lines we monitor, tech felt pain, inflation rose, oil spiked, but UST rallied.

Oct 19 • Glenn Reynolds, CFA

Weekly Returns: Benchmarks and ETFs 10-18-26

A mixed weekly asset return picture with energy, materials, defensive dividend stocks, and bonds win the week as tech takes a beating.

Oct 18 • Glenn Reynolds, CFA

Weekly Asset Returns: Tech Check 10-18-26

The Tech Check asset mix was crushed this week with the bottom 7 of the 32 asset lines posting double-digit negative returns.

Oct 18 • Glenn Reynolds, CFA

Weekly UST Deltas: Bear Macro but Bull UST Move 10-18-26

The weekly UST deltas brought a bull flattener despite a $10 rise in oil and two bad inflation numbers for CPI and PPI.

Oct 18 • Glenn Reynolds, CFA

UST Curves and Cycles: Today in Historical Context

We put the current UST curve in the context of some cyclical histories and ask some questions.

Oct 18 • Glenn Reynolds, CFA

Industrial Production Sept 2026: Capacity Utilization

After a week when growth and valuation concerns were raised, Industrial Production trends offer some reassurance.

Oct 17 • Glenn Reynolds, CFA

CPI Sept 2026: Does Chronic Inflation Need More Treatment

The CPI/PPI one-two punch is riding alongside tech valuation worries. We were out of position on CPI day, so we update our charts below.

Oct 16 • Glenn Reynolds, CFA

Macro Crosscurrents Rattle the UST Curve and Equity Valuations

The PPI numbers were especially bad after CPI already rattled markets.

Oct 15 • Glenn Reynolds, CFA

Market Commentary: Asset Returns 10-11-26

A wild sequence of events ahead with election risks at the top of the not-too-standard deviation list.

Oct 11 • Glenn Reynolds, CFA

Asset Returns: Tech Check 10-11-26

The ebb and flow of software vs. semiconductors continues with this week with software materially outperforming.

Oct 11 • Glenn Reynolds, CFA

Weekly Returns: Benchmarks and ETFs 10-11-26

A comeback week was supported by energy names rebounding and a mild long UST rally supporting dividend stocks and bond ETFs.

Oct 11 • Glenn Reynolds, CFA

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