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Exact Macro Market Monitor

Mike Sandifer

Market--based weekly outlooks on the US stock market and economy, from the market monetarist perspective with a particular focus on models based upon the equilibrium relationship between the S&P 500 earnings yield and the NGDP growth rate.

Platform
Substack
PricingFreemiumPublishesTwice weekly
Issues396SubscribersRead exactmacro.substack.com

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Latest Issues

Recent posts by this newsletter. Browse the email archive.

Stock and GDP Outlook, for Week Ending 03/20/2026

Stock prices and the mean expected NGDP growth rate fell for the third straight week, largely as a result of the deepening supply shock caused by the restriction of shipping through the Strait of Hormuz. WTI crude prices briefly spiked to n...

9 days ago
3
1

Stock and GDP Outlook, for Week Ending 03/13/2026

Stock prices and likely the mean expected NGDP growth rate fell last week, as dual negative real shocks hit the US economy. First there was a much worse-than-expected February jobs report that indicated that more than 92,000 jobs were lost ...

16 days ago
1
0

How to Use This Blog

I wrote a post like this in the past, but wasn’t as detailed as I should have been how to use this blog to improve investment returns. Part of that is due to the evolution of the blog since.

23 days ago
3
0

Stock and GDP Outlook, for Week Ending 03/06/2026

Stock prices and the mean expected NGDP growth rate fell last week, largely on the basis of a higher-than-expected PPI figure and speculation about the beginning of the war in Iran, which began early Saturday morning. WTI oil futures are no...

23 days ago
2
0

Authors

The writers behind this newsletter.

  • Mike Sandifer

    As a former stockbroker, I offer macro fundamentals-based stock/dollar forex market boom/bust alerts and portfolio stress-testing.

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