Jim Nelson

A Repricing, Not a Reversal

Begin with the print itself, because the headline flatters the internals only slightly. The bulk of May's gains came from

By Jim Nelson

For the dollar-denominated investor weighing how to position for the back half of 2026, last week tightened

By Jim Nelson

On the surface, last week looked engineered to embarrass our positioning. The dollar index climbed t

By Jim Nelson

Our reading is that this is a meaningful positive at the surface — a real-time confirmation that the most pess

By Jim Nelson

The S&P 500 closed Wednesday at a fresh all-time high of 7,022.95, surpassing the late-January peak and capping a remarkable

By Jim Nelson

Gold has fallen roughly 21 percent from its all-

By Jim Nelson

The key point, in our view, is that this combination of shocks is not likely to be an isolated occurrence in 202

By Jim Nelson