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.

Inflation and Income and Spending, Oh My!

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By Peter Boockvar – Both headline and core inflation as measured by PCE rose .2% m/o/m. The headline gain is 1.8% y/o/y, the highest since last March while the core rate was up by 1.6% y/o/y, also the most since then. Again, sticky services inflation...

US Job Openings, Consumer Sentiment Surge Higher

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By Peter Boockvar – Consumer confidence is very good and expectations for rising incomes and employment is the main reason. This though comes with higher inflation expectations and we know the upside risk to this is in turn rising incomes if companies can’t offset...

What Next?

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By Peter Boockvar – I want to highlight again my belief that this market selloff is all about rising interest rates and a slowing flow of liquidity from the Fed, ECB and BoJ. Yes, the global economy is good and earnings...

TIPS Demand at 13-Year High Shows Inflation Expectations Ramping Up

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By Peter Boockvar – I almost never give color on a US Treasury TIPS auction but, today, I am. The Treasury just auctioned off 10-yr TIPS (Treasury Inflation Protected Securities) and the demand was robust. Direct and indirect bidders took 89% of the auction...

Price to Sales Ratio for S&P 500 Surpasses 2000 Tech Bubble Peak

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By Peter Boockvar – At the individual investor level there is certainly a lot of excitement heading into the new year. AAII said Bulls rose to 59.8 from 52.7 last week. That is the highest level since December 2010. Bears are nowhere to be found...

US Stocks, Bonds, and Real Estate Most Expensive in History

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By Peter Boockvar – After seeing the tax reform inspired to jump in small business optimism from the NFIB, today the Duke CFO survey optimism index rose the to the best level since June 2004. Also, it was driven by tax reform.

Home Prices, Consumer Confidence, and Taxes

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By Peter Boockvar – Home price gains y/o/y accelerated in September to 6.2%, the quickest since July 2014, according to the Case-Shiller index. This is great if one is a seller and tougher for those looking to buy.

Higher Inflation in Eurozone Is Very Underappreciated Risk

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By Peter Boockvar – Yesterday’s 1.7% rise in the CRB index matched the 2nd biggest in about a year. The highest level in 9 months is being met by mostly yawns in conventional yields. Looking specifically at the epicenter of the biggest bubble...

Yesterday, All My Market Troubles Seemed So Far Away…

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By Peter Boockvar – We’re finally here. About 9 years after QE1 began, QT is about to start. If one believes that the stock market still is a discounting mechanism, then have nothing to fear with QT and that maybe it will actually be...

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