Peter Boockvar's Blog

Chief Investment Officer
Bleakley Financial Group

Peter is the Chief Investment Officer for Bleakley Financial Group, a $3.5b wealth management firm. Peter is also the editor of The Boock Report, a market and economic newsletter. Prior to joining Bleakley, Boockvar was a managing director and the Chief Market Analyst for the Lindsey Group – a macro economic and market research firm founded by former Federal Reserve Governor Larry Lindsey. In this role, Boockvar was responsible for global economic & market research at the firm. Before his time with the Lindsey Group, Peter worked as a macro analyst and portfolio manager for Omega advisors and had previously been a partner at Miller Tabak & Company where he was an equity strategist and portfolio manager.

Bond Yields at Multi-Year Highs as Inflation Heats Up Globally

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By Peter Boockvar – We're there! 3.11% on the 10-year Treasury yield. Not only that, the 5-year is at 2.99%. Again, 3.11% was the high close for the year touched on May 17th. Any close above that would be the highest since July 2011. Big moment...

Small Business Optimism Just Jumped to a 45-Year High!

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By Peter Boockvar – The NFIB small business optimism index for August rose almost 1 pt m/o/m to 108.8 and that is the highest level in the history of this survey dating back to 1973. Plans to Hire rose 3 pts to the most also on record. Capital spending...

Yuan Continues to Slide; Copper Getting Crushed

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By Peter Boockvar – Today is less about Turkey as the lira is up about 3% (after Turkey announced a limitation on banks level of currency swaps they can do which was being used to short the lira) vs the US dollar and...

US Manufacturing Weakens on Cost Increases, Tariff Concerns

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By Peter Boockvar – The US ISM manufacturing index for July moderated by 2.1 pts to 58.1 which is a 3 month low and puts it below the average year to date of 59.1. Of note, new orders fell 3.8 pts to 60.2, the lowest since...

Manufacturing Good But Major Capacity Limits Hit

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By Peter Boockvar – The June ISM manufacturing index rose 1.5 pts m/o/m to 60.2 and that was above the estimate of 58.5. The components though were more mixed. New orders fell .2 pts, backlogs were lower by...

Foreigners Dump US Treasury Bonds in Record Amounts

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By Peter Boockvar – The weakness in global stock markets that started in Asia overnight is for obvious reasons. People are losing some patience with "It's just a negotiating tactic" reason for the tariffs because instead of leading to...

If Only the Curve Could Talk

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By Peter Boockvar – If only the curve could talk and tell us what it's thinking. The US 2s/10s spread is down to 42 bps, a fresh 11 year low. This after a slew of economic data was seen overseas and before key data in the US later today. Italian bonds are selling off...

Throw Out Those Condoms in China

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By Peter Boockvar – China is discussing the end of all restrictions on having kids "according to people familiar with the matter" according to BN. They reported that "The State Council, China's cabinet, has commissioned research on the repercussions...

Excess Corporate Leverage Meets Higher Rates

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By Peter Boockvar – At 72% we are basically at the level we were at during the depths of the Great Recession in Q1 2009 while the US economy today is in the 9th year of an expansion. Corporate debt is where the leverage excess is and why this rise in rates...

Fed Inflation Gauge Continues to Pick Up Steam

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By Peter Boockvar – It wasn't just the BLS inflation report that came out yesterday. The NY Fed's Underlying Inflation Gauge for March in its "full data set" increased to 3.14% from 3.07% in February. It's the 10th straight month of an increase in the y/o/y gains...

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