Doll’s Deliberations

War MOU Needs Work; Fed Sends Yellow Light

A deal to extend the ceasefire in the Middle East has finally been agreed, allowing energy prices to decline further and risk-asset markets to resume their pre-war bull run. But should investors expect setbacks ahead? Get Bob’s analysis.

06/22/2026

Doll’s Deliberations

Tech Stock Oversupply? Strait to Reopen? Profit Growth to Stay Strong?

A huge increase of new U.S. equity supply, via massive new U.S. tech stock IPOs, is primed to hit the stock market, raising the issue of whether this could trigger a bout of indigestion. The timing is critical. Get Bob’s view.

06/15/2026

Doll’s Deliberations

Expectations Remain High

Investors remain upbeat about the capital market outlook, assuming that the Strait of Hormuz will soon reopen and the global economic expansion will continue. Is current investor exuberance overdone?

06/08/2026

Doll’s Deliberations

Markets Continue to Focus on the Positives

The tight correlation between oil prices and global financial asset markets continues, subject to the ever-changing odds of a deal to re-open the Strait of Hormuz. Is it time for a risk-off phase? Bob shares what signals he’s watching.

06/01/2026

Doll’s Deliberations

Can High Bond Yields & High Stock Prices Coexist?

Tension is growing between rising bond yields and resilient equity markets. With inflation pressures firming, Treasury yields moving higher, credit spreads near recent tights, and market breadth narrowing, Bob discusses what higher rates, strong corporate earnings, energy-market uncertainty, and accommodative monetary conditions could mean for markets.

05/26/2026

Doll’s Deliberations

Both Stocks & Oil Prices Remain Resilient

Investors are nervous as the Strait of Hormuz remains closed and oil prices edged higher last week. Financial markets have so far mostly absorbed the energy shock, but sentiment could quickly sour if the shock persists into June. Read Bob’s full rundown.

05/18/2026

Doll’s Deliberations

Oil & War Crosscurrents Continue Even as Earnings Shine

This week, Bob examines the crosscurrents of oil prices, Middle East uncertainty, and strong corporate earnings. While investor sentiment has turned more hopeful, the key question is whether the global expansion can continue to withstand war-related energy shocks and sticky inflation.

05/11/2026

Doll’s Deliberations

Fingers Crossed / Cautiously Optimistic

Market sentiment continues to wax and wane in response to changes in oil prices, but investors generally remain sanguine. A month ago, global equities were reeling, bond yields were rising, and balanced portfolios were being hit by a double whammy. Yet equities have mostly recovered their war-driven losses. What’s next? Bob takes a look at the current state of the markets and what to expect next week.

05/04/2026

Doll’s Deliberations

Markets Continue to Assume War Will End & Oil Will Fall

Markets reach new highs as investor optimism persists about the Middle East conflict and lower oil prices. This week’s commentary looks at why such optimism may be valid, and which factors could still challenge the rally.

04/27/2026

Doll’s Deliberations

Is There a Deal? – Market Thinks Yes

Investors apparently believe maximum risk related to the war is over, and the damage so far will not unduly impact the global economic expansion. With markets back near all-time highs, valuations leave little room for setbacks. Can the rally be trusted? Bob looks at the headlines and highlights what matters.

04/20/2026

Commentary

A deal to extend the ceasefire in the Middle East has finally been agreed, allowing energy prices to decline further and risk-asset markets to resume their pre-war bull run. But should investors expect setbacks ahead? Get Bob’s analysis.

A huge increase of new U.S. equity supply, via massive new U.S. tech stock IPOs, is primed to hit the stock market, raising the issue of whether this could trigger a bout of indigestion. The timing is critical. Get Bob’s view.

Investors remain upbeat about the capital market outlook, assuming that the Strait of Hormuz will soon reopen and the global economic expansion will continue. Is current investor exuberance overdone?

The tight correlation between oil prices and global financial asset markets continues, subject to the ever-changing odds of a deal to re-open the Strait of Hormuz. Is it time for a risk-off phase? Bob shares what signals he’s watching.

Investors are nervous as the Strait of Hormuz remains closed and oil prices edged higher last week. Financial markets have so far mostly absorbed the energy shock, but sentiment could quickly sour if the shock persists into June. Read Bob’s full rundown.

This week, Bob examines the crosscurrents of oil prices, Middle East uncertainty, and strong corporate earnings. While investor sentiment has turned more hopeful, the key question is whether the global expansion can continue to withstand war-related energy shocks and sticky inflation.

Markets reach new highs as investor optimism persists about the Middle East conflict and lower oil prices. This week’s commentary looks at why such optimism may be valid, and which factors could still challenge the rally.

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