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MOOSPEAK
January 9, 2026
The first full trading week of 2026 was a winner. All of the assets we follow were up—US equities, US bonds, foreign equities, commodities, oil, gold, and even the US Dollar. Consumer confidence came in high this week and investor confidence followed suit, right through the roof. That said, there were a lot of gaps left to be filled on the way to a number of overbought conditions. Things will pull back on their way up.
If the “One Big Beautiful Bill” lives up to even half its hype, investors should have a very prosperous year. There are already indications that the economy is picking up. The Atlanta Fed’s “GDP Now” posted a 5.1% annualized Q4 print this week, up from 3.5% last week. A year ago, we hadn’t seen GDP above 3% for close to four years, and when we did it turned out it wasn’t to be believed.
I’ve lived in Washington DC for over a half century, so I tend to question the veracity of just about everything that sounds too good to be true… no matter the source. Time will tell if 2026 turns out to be a winning hand, but a lot of folks are anteing up and dealing themselves in.
If your in, have fun. If not, playing the gaps and buying overbought dips might be worthwhile.
