Newsletter
A live 60-minute CE webinar today at 12:00 PM ET with Matt Lamb, CAIA of GraniteShares. 1.0 hour of CFP Board–approved continuing education. Register: https://us06web.zoom.us/webinar/register/WN_ThxW8AoxR9KWnOqF_7Eytw THE SETUP Commodities have been one of the most divisive trades in 2026.
Macro Observations
Macro Observations
Macro Observations
Macro Observations
What the AI Capex Cycle Has in Common With Every Buildout That Came Before It
Macro Observations
The June Summary of Economic Projections Is the Stagflation Admission Consensus Refuses to Read
Closing Thoughts for the Week
Was the most important number this week the Brent print or the new dot plot, and what does it mean when both signals point against the same easing trade?
Leaders-Laggards
Warsh Kills Cuts; EEM +1.81σ Extreme; Russell +2.03%; XLE -5.86% Worst Sector; Lumber/Gold +8.11%; Credit Diverging Now
Macro Observations
Weekend reading: 3 from the archive worth your time If you have been enjoying the free Lead-Lag Report, here are three paywalled pieces from the last few weeks that free readers consistently ask me about. 1) A Market Divided (2)Markets are sending a split signal across styles and
High Yield Spotlight
Main Street Capital (NYSE: MAIN) — Monthly Income That Grows, NAV That Compounds, and a Premium You Either Accept or Walk Away From
Newsletter
Advisor Credits are going live first. More is coming for the rest of the Lead-Lag ecosystem. Cover image / top image This weekend, Lead-Lag Media takes a major step toward becoming something bigger than a media business. For years, The Lead-Lag Report has been built around one idea:
Global View
The Hormuz peace trade unwound crude and yields in lockstep, but gold refused to follow the script — and that refusal is the whole tell.