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infrastructure

Macro: Construction spending — it’s all about infrastructure and reshoring

By |2023-11-01T13:15:27-04:00November 1st, 2023|Economy|

Total construction spending is growing at 8.7% and that is an increase from 7.6% growth last month. Like we saw in the housing data, residential construction is improving. It now stands at -2.1% from a year ago, an improvement from the -4.4% yoy growth we saw last month. Non-residential spending is where we see an absolute boom. The reshoring story [...]

Weekly Market Pulse: Look Up In The Sky! It’s A UFO! Or Not!

By |2023-02-13T07:51:25-05:00February 12th, 2023|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

As I sit here writing this Sunday afternoon, the US has just shot down a third UFO in the last 3 days in addition to the Chinese "weather" balloon last week. I have no insight into what these things might be but I do wonder if we haven't declared war on the National Weather Service. The federal government has become [...]

Weekly Market Pulse: Peaking? Already?

By |2021-04-26T08:09:23-04:00April 25th, 2021|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

April 15th was the two-week anniversary of the day my wife and I got our second Moderna shot. We have spent the last 13 months being very careful about the virus, limiting our contacts, social distancing, and generally doing anything that seemed helpful. I am certainly aware that others took a more liberal attitude as is their right. But, for [...]

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