high-yield spreads

Weekly Update

Were Investors Too Pessimistic?

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Published April 17, 2026

 

Delta Research thinks so. The stock market’s historic move over the past 10 days has caught many investors off guard. For the first time in many moons, retail investors did NOT buy March’s sharp dip in stocks. As we’ve noted in other articles, the specter of private credit defaults, AI rampaging through the software industry, and, lastly, a war that brought oil and gas transport to a near halt were a combination of fears that pummeled the psyches of investors. It was, then, remarkable that the stock market was down only -10%. Are there more shoes to drop in the future? Or was this, like last year’s “tariff tantrum” a quick flush of bearishness in an upward sea of bullish market behavior? Time will tell. (more…)

Weekly Update

AI Bubble Talk Ramps Up

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Published October 3, 2025

 

With the stock market having come through the infamous month of September in fine fashion, investment analyst talk of a bubble in stocks, and in AI-related companies, has returned full force.  Delta Research outlines below the supporting structures for higher stock prices. Afterward, we link to an article on the AI bubble thesis.  As Trend-Followers, we follow the market’s price moves, up or down.  Regardless of AI bubble fears, price continues to move up. (more…)

Weekly Update

Are All Systems Now “Go!”?

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Published June 27,2025

 

The stock market approached new highs this week. Where have all the bears gone? Delta Research offers the crosscurrents below that continue to generate the Wall of Worry that stocks are climbing.

“The stock market surged this week despite U.S.-Iran military tensions. It rallied when bombings began, climbed further on ceasefire news, and even gained after reports suggested limited damage to Iran’s nuclear capabilities. The S&P 500 rose over 2%, now within 1% of its all-time high. If you predicted this response, you’re operating at an elite level. (more…)