Bob Doll reviews a mixed week for markets: S&P 500 near record highs, sector rotation out of the U.S., strong corporate earnings, and buoyant liquidity supporting asset prices. Meanwhile, gold’s rally and stress at the long end of yield curves signal growing investor unease.

Tight credit spreads, flat income growth, and falling foreign demand for U.S. Treasuries increase the risk of a bond-market shock that could trigger a risk-off phase. The outlook remains cautiously optimistic but vigilant for catalysts that could prompt de-risking.

For a copy of this week's Doll's Deliberations click on the following link February 2 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Bob Doll reviews last week’s market moves: stocks slipped, the dollar fell sharply, and gold hit a new record as geopolitics and policy headlines dominated.

The episode explains how Japan’s election and proposed fiscal stimulus are lifting global bond yields, why the Fed may have limited room to ease further, and the two main risks for markets—rising sovereign yields and potential policy missteps.

Also covered: sector winners and losers, credit conditions, rotation into value and small caps, and implications for investors as global anchors shift and market trends face possible correction.

For a copy of this week's Doll's Deliberations click on the following link January 26 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Bob Doll's weekly market commentary reviews recent market action and argues that the “high-risk” bull market persists despite growing warning signs.

Last week stocks were mixed: the S&P 500 slipped modestly while small caps and international markets outperformed; real estate, staples, and industrials led gains while financials and discretionary lagged.

Key risks highlighted include rising yields outside the U.S. Treasury curve, surging margin debt, widening spreads in the lowest-rated corporate bonds, and accelerating commodity prices — all of which could trigger the next risk-off phase if a catalyst emerges.

Despite these concerns, accommodative policy, solid corporate earnings (led by technology), and resilient global growth should sustain the risk-on backdrop for now — but investors should watch rates, credit spreads, and margin positions closely.

For a copy of this week Doll's Deliberations click on the following link January 20 or go to www.crossmarkglobal.com for additional insight and investment solutions.