Graham Summers

Graham Summers is Chief Market Strategist for Phoenix Capital Research, an independent investment research firm based in the Washington DC-metro area with clients in 56 countries around the world.

Graham’s clients include over 20,000 retail investors as well as strategists at some of the largest financial institutions in the world (Morgan Stanley, Merrill Lynch, Royal Bank of Scotland, UBS, and Raymond James to name a few). His views on business and investing has been featured in RollingStone magazine, The New York Post, CNN Money, Crain’s New York Business, the National Review, Thomson Reuters, the Glenn Beck Show and more.

Articles by Graham Summers

Central Bankers delusional? Over the weekend, Benoît Cœuré, Member of the Executive Board of the ECB, penned a piece defending the ECB’s policies from the criticism that NIRP hurts savers. The first paragraph reveals, quite clearly, just...
We continue to see articles by so called “experts” trashing Gold and Silver as investments. Gold is everything from a “Pet Rock” to a “Dumb Investment” or “Barbarous Relic.” Do these people even bother doing research? Or are they just...
Futures are looking weak again. Traders gunned for 2100 on the S&P500 last week. They briefly touched that level, but there was no follow through for the obvious reason: no one with a brain believes this rally.
The markets are prepping for the next massive round of QE. As I noted earlier this week, NIRP has been entirely ineffective at generating Central Bankers’ desired “inflation.” The ECB has cut rates into NIRP four separate times only to...
The Fed is “one and done” for rate hikes. We called this back in mid-2015. The US economy is far too weak for the Fed to engage in anything resembling a series of rate hikes. Corporate leverage, household leverage, even the national debt...
And it wants more of it. From mid-2014 until early 2016, commodities as an asset class collapsed some 45%. This was an all-out bloodbath. But despite this collapse in prices, inflation began to perk up.
Put simply, the inflation genie is out of the bottle. Core inflation is already moving higher at a time when prices of most basic goods are at 19-year lows. Any move higher in Oil and other commodities will only PUSH core inflation higher.
The US markets are in a quandary. On the one hand, some of the data (GDP growth, unemployment, etc.) suggests the Fed should continue to hike rates. On the other hand, other data points (food stamp usage, labor participation rate) suggest...
A growing number of investors are beginning to realize that Central Banks are effectively out of ammo (for now). Last week I noted that the Bank of Japan’s implementation of NIRP only generated a brief rally in Japanese stocks. That rally...
The Central Banks hate physical cash. So much so that they will likely try to ban it in the near future. You see, almost all of the “wealth” in the financial system is digital in nature.

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