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Tom Essaye Quoted in Barron’s on April 21st, 2023

Stocks Gain on Signs of Economic Distress

“Since April 3, we’ve seen the yield on the 1-month Treasury bill fall from 4.7% to 3.9%, as investors have shunned near-term Treasury bills that might get caught up in the debt ceiling fight. Conversely, the 3-month Treasury bill yield has risen from 4.9% to 5.2% since April 3, as investors have sold that debt as it will be subject to potential increased volatility as the debt ceiling fight comes to a head,” Tom Essaye, founder of the Sevens Report, wrote Friday. Click here to read the full article.

 

Tom Essaye Quoted in Blockworks on April 20th, 2023

Bitcoin, Ether Hover Below Key Levels While Volatility Dips

“The VIX is trading at the lowest levels since the S&P 500 hit its standing all-time high in the early days of 2022,” Tom Essaye, founder of Sevens Report Research, said. “It will be hard to believe the market is poised to casually cruise towards new record highs from here,” he added. “I.e., the bottom of the bear market is not in.” Click here to read the full article.

Tom Essaye Quoted in Yahoo Finance on April 19th, 2023

Why a smattering of notable cyclical stocks are hitting 52-week highs

Sevens Report Research Founder Tom Essaye agrees with the Fed pause narrative fueling stocks but thinks there are also other elements in play. “Market pros expect stocks to drop,” Essaye says. “That means the ‘pain trade’ is higher in the short term, as under allocated advisors and investors begrudgingly chase stocks.” Click here to read the full article.

Tom Essaye Quoted in Barron’s on April 19th, 2023

The Dow Slips as Earnings Ramp Up

“If earnings news is not encouraging today, and yields continue to move higher over the course of the session, the selling pressure on equities is likely to continue and liable to accelerate,” wrote Tom Essaye, founder of the Sevens Report. Click here to read the full article.

Tom Essaye Quoted in MarketWatch on April 18th, 2023

Why bears can’t keep the stock market down despite bad news

As such, the pain trade has been higher for all of 2023 and that’s helping support stocks despite decidedly mixed fundamentals (and mixed is being generous),” Tom Essaye, founder of Sevens Report Research wrote. Click here to read the full article.

Tom Essaye Quoted in MarketWatch on April 19th, 2023

Why is the stock market so resilient? Blame the ‘pain trade’.

The stock market’s resilience so far in 2023 is an example of a well-worn but sometimes useful market concept known as the “pain trade.” Tom Essaye, founder of Sevens Report Research, defined it succinctly in a Tuesday note: “The goal of the market is to extract the most amount of pain from the greatest number of people.” Click here to read the full article.

Tom Essaye Interviewed on Yahoo Finance Live on April 11th, 2023

‘The Fed will be more hawkish than the market is currently expecting,’ Sevens Report Research President says

Sevens Report Research President Tom Essaye joins Yahoo Finance Live to discuss U.S. inflation, Fed policy, economic uncertainty, and the outlook for markets. “I think the Fed will be more hawkish than the market is currently expecting. We have to remember something. If we look at year-end Fed Funds estimates, it’s 4% to 4 and 1/4%. So the market is pricing in numerous rate cuts, not hikes, rate cuts before year end”…said Tom Essaye. Click here to watch the full interview.

Tom Essaye Quoted in Forbes on April 7th, 2023

Labor Market Adds 236,000 Jobs In March—Lowest Since 2020—As Economists Worry Recession May Be ‘Underway Now’

The revisions fueled recession concerns that intensified this week, with “every major data point”—including jobless claims, manufacturing activity and construction spending—signaling the economy is slowing down and pushing some experts to worry it may be slowing down too quickly, says Sevens Report founder Tom Essaye. Click here to read the full article.

Tom Essaye Quoted in Yahoo Finance on April 6th, 2023

Why speculative AI stocks like C3.ai and BigBear.ai are seeing monster volatility

“Basically I think there’s some regulation concerns, not so much in the governmental sense yet, but perhaps industry regulations. That’s just injecting some fundamental uncertainty into the whole space, and given the valuations and popularity of the AI names, it’s resulting in some wild gyrations!” Sevens Report Research founder Tom Essaye says. Click here to read the full article.

Tom Essaye Quoted in BNN Bloomberg on April 6th, 2023

U.S. stocks rise amid hopes for ‘just right’ jobs print

As investors have aggressively priced in rate cuts this year, a “too hot” payrolls number would undermine those expectations, while a “too cold” report would add to concerns about a hard landing, according to Tom Essaye, a former Merrill Lynch trader who founded The Sevens Report newsletter. Click here to read the full article.
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