The Lead‑Lag Report – Blog

The Lead‑Lag Report – Blog

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Michael A. Gayed’s research on risk signals, rotation and ETF strategy implementation.

TODAY: Major Deregulation Wave – Is Your Portfolio Ready?
NewsApr 1, 2026

TODAY: Major Deregulation Wave – Is Your Portfolio Ready?

Regulators announced a sweeping deregulation wave, rolling back dozens of rules across energy, finance and other industries in a single day. The move could free up trillions of dollars in compliance costs, instantly boosting corporate efficiency and profit margins. Early...

By The Lead‑Lag Report – Blog
Oil, Sentiment, and the Correction That Nobody Wanted
NewsMar 30, 2026

Oil, Sentiment, and the Correction That Nobody Wanted

The S&P 500 closed its fifth straight losing week, falling to 6,368.85 and slipping into correction territory. Oil prices surged, with Brent near $107 per barrel and WTI above $93, pushing the 10‑year Treasury yield to 4.44%, its highest level...

By The Lead‑Lag Report – Blog
$JOJO: CE-Credit Webinar on Credit Regimes and Allocation Discipline
NewsMar 30, 2026

$JOJO: CE-Credit Webinar on Credit Regimes and Allocation Discipline

The CE‑Credit approved webinar on March 31, 2026, will dissect credit market regimes and their impact on allocation discipline. Hosted by Michael A. Gayed, CFA, the session outlines how spread phases create distinct risk environments and why static exposure can...

By The Lead‑Lag Report – Blog
GOF's 20% Yield Is Real. The 36% Premium You Used to Pay for It Is Gone.
NewsMar 29, 2026

GOF's 20% Yield Is Real. The 36% Premium You Used to Pay for It Is Gone.

Guggenheim Strategic Opportunities Fund (GOF) now yields about 20.6% annualized, trading at $10.61 per share—a near‑zero discount to its $10.64 NAV. After five years of premiums that topped 36%, the premium has collapsed, offering investors a price‑aligned entry point. The...

By The Lead‑Lag Report – Blog
From Digital AI to Physical AI — Portfolio Construction for a New AI Investment Cycle
NewsMar 26, 2026

From Digital AI to Physical AI — Portfolio Construction for a New AI Investment Cycle

A free, CE‑credit webinar on March 27 will explore how advisors can reshape portfolios for the next AI investment cycle. Host Michael Gayed and KraneShares strategist Derek Yan will examine the S&P 500’s extreme concentration—top ten stocks now hold over...

By The Lead‑Lag Report – Blog
$JOJO: CE-Credit Webinar on Credit Rotation — Why Static Bond Allocations May Be a Risk
NewsMar 22, 2026

$JOJO: CE-Credit Webinar on Credit Rotation — Why Static Bond Allocations May Be a Risk

The ATAC Credit Rotation ETF ($JOJO) challenges the common belief that bond exposure should stay static, proposing a dynamic credit‑rotation framework. Portfolio manager Michael Gayed will detail this approach in a CE‑credit approved webinar on March 24, covering credit‑vs‑duration risk, utilities...

By The Lead‑Lag Report – Blog
This 11% Yielder Powers AI’s Insatiable Appetite But The Leverage Makes You The Co-Pilot
NewsMar 22, 2026

This 11% Yielder Powers AI’s Insatiable Appetite But The Leverage Makes You The Co-Pilot

The article spotlights Tortoise Energy Infrastructure Corp. (TYG), an 11.69% yielding closed‑end fund positioned to profit from the AI‑driven surge in U.S. electricity demand. Macro data shows data‑center power needs could hit 74 GW by 2028, outpacing current capacity and prompting...

By The Lead‑Lag Report – Blog
Super Week Delivered. Nobody Blinked.
NewsMar 20, 2026

Super Week Delivered. Nobody Blinked.

US equity markets experienced a sharp reversal after a brief rally, erasing much of the early‑March small‑cap gains. The Russell 2000 slipped 0.41% YTD, a 9.3‑point drop in less than two weeks, while the S&P 500 fell 3.49% to four‑month...

By The Lead‑Lag Report – Blog
Defensive Tide Rising
NewsMar 19, 2026

Defensive Tide Rising

Three of four intermarket signals have turned risk‑off as utilities outperform the S&P 500 and Treasuries attract safe‑haven flows. The S&P 500 slipped below its 200‑day moving average, triggering a shift from leveraged SSO to plain SPY exposure. Meanwhile, gold’s...

By The Lead‑Lag Report – Blog
This 9% Yielder Gives You Databricks, Anthropic, And ByteDance At A 12% Discount
NewsMar 14, 2026

This 9% Yielder Gives You Databricks, Anthropic, And ByteDance At A 12% Discount

The BlackRock Science and Technology Term Trust (BSTZ) offers a 9% annualized yield and trades about 12% below net asset value, giving retail investors exposure to private AI leaders like Databricks, Anthropic and ByteDance. About 38.5% of its $1.7 billion portfolio...

By The Lead‑Lag Report – Blog
War Premium and the Defensive Stampede
NewsMar 13, 2026

War Premium and the Defensive Stampede

The latest Leaders‑Laggards analysis highlights a pronounced "war premium" as energy and defense equities outperform amid $100‑plus oil and deteriorating payroll data. Defensive sectors such as utilities and consumer staples are rallying, creating a clear rotation away from riskier assets....

By The Lead‑Lag Report – Blog
Party Like It’s 1999? Not So Fast.
NewsMar 12, 2026

Party Like It’s 1999? Not So Fast.

The upcoming webinar hosted by Michael Gayed and Running Oak Capital argues that its Efficient Growth strategy has outperformed the S&P 500 on a cumulative basis since 1989, notably staying flat during the dot‑com bust. Current market data shows forward...

By The Lead‑Lag Report – Blog
The Small-Cap Rotation Is Real
NewsMar 5, 2026

The Small-Cap Rotation Is Real

Small‑cap indices have surged, with the S&P 600 up about 9% YTD and the S&P 400 gaining over 8%, while the S&P 500 remains flat. The rally is tied to the Federal Reserve’s easing cycle, which has lowered rates to 3.5‑3.75% and eased...

By The Lead‑Lag Report – Blog
The AI Trade Is Global: Derek Yan on Dollar Weakness, EM Tech, and Hidden Concentration Risk
PodcastMar 1, 20260 min

The AI Trade Is Global: Derek Yan on Dollar Weakness, EM Tech, and Hidden Concentration Risk

In this episode, host Melanie Schaefer and CraneShares senior investment strategist Derek Yan discuss how the concentration of U.S. mega‑cap stocks is driving investors to seek diversification in emerging markets (EM), especially as the dollar shows signs of weakening. Yan...

By The Lead‑Lag Report – Blog
$ATACX: What Rising Volatility Means for Tactical Funds Vs. Static Portfolios
NewsFeb 26, 2026

$ATACX: What Rising Volatility Means for Tactical Funds Vs. Static Portfolios

Volatility has re‑emerged as a defining feature of the current market cycle, eroding the traditional equity‑bond diversification that underpins static 60/40 portfolios. As stock‑bond correlations rise during macro stress, fixed‑allocation strategies face heightened drawdown risk. Tactical funds such as the...

By The Lead‑Lag Report – Blog
Solar’s Two-Speed Rally: Utility-Scale Strength Masks Residential Fragility
NewsFeb 25, 2026

Solar’s Two-Speed Rally: Utility-Scale Strength Masks Residential Fragility

Solar’s Invesco Solar ETF (TAN) has surged over 23% year‑to‑date through Feb 24, 2026, far outpacing the S&P 500’s modest 0.8% gain. The U.S. Energy Information Administration projects a record 86 GW of utility‑scale capacity additions in 2026, with solar comprising 51% of...

By The Lead‑Lag Report – Blog
The Case for Regulatory Tailwinds Over Traditional Fiscal Stimulus — FMKT as a Structural Play
NewsFeb 23, 2026

The Case for Regulatory Tailwinds Over Traditional Fiscal Stimulus — FMKT as a Structural Play

Policymakers are pivoting from traditional fiscal stimulus toward deregulation as the chief engine of U.S. growth, arguing it frees capacity without reigniting inflation. A landmark Supreme Court decision overturning Chevron and a 2025 executive order mandating agencies to cut existing...

By The Lead‑Lag Report – Blog
Commodities, Rates, and the Repricing of Scarcity
NewsFeb 22, 2026

Commodities, Rates, and the Repricing of Scarcity

In this episode of Lead‑Lag Live, Will Rhind, founder and CEO of GraniteShares, explains why platinum is experiencing a resurgence due to a structural supply deficit and the waning of peak‑ESG assumptions, while gold continues to hit new highs but...

By The Lead‑Lag Report – Blog
Hype Vs. Deployment: Derek Yan on Humanoid Robotics, KOID ETF, and the Global AI Arms Race
PodcastFeb 21, 20260 min

Hype Vs. Deployment: Derek Yan on Humanoid Robotics, KOID ETF, and the Global AI Arms Race

In this episode, Derek Yan, Senior Investment Strategist at KraneShares, explains why humanoid robotics is moving from hype to real-world deployment, highlighting current enterprise pilots in factories and logistics that address chronic labor shortages. He stresses that investors should focus...

By The Lead‑Lag Report – Blog
YYY: The Income Illusion or the Ultimate Credit Barometer?
NewsFeb 20, 2026

YYY: The Income Illusion or the Ultimate Credit Barometer?

The episode dissects YYY, an ETF that offers exposure to a rules‑based basket of high‑income closed‑end funds (CEFs) via a fund‑of‑funds structure. It highlights the layered risks of credit exposure, embedded leverage, and premium/discount dynamics, noting that performance is highly...

By The Lead‑Lag Report – Blog
The Housing Inflection Point
NewsFeb 17, 2026

The Housing Inflection Point

The episode examines the current U.S. housing market inflection point, highlighting softened builder confidence, persistently tight resale inventory, and the potential impact of a credible rate‑cut cycle on margins and incentives. It discusses policy initiatives aimed at streamlining permitting and...

By The Lead‑Lag Report – Blog
Engineered Income: The Hidden Mechanics Behind DNP’s Monthly Payout
NewsFeb 15, 2026

Engineered Income: The Hidden Mechanics Behind DNP’s Monthly Payout

The episode dissects DNP Select Income Fund Inc., a closed‑end fund that targets utilities and promises a steady monthly payout via a managed distribution plan that can draw from income, gains, or return of capital. It explains how the fund’s...

By The Lead‑Lag Report – Blog
Income Investing Beyond Dividends: Incorporating Options Into Your 2026 Yield Plan
NewsFeb 9, 2026

Income Investing Beyond Dividends: Incorporating Options Into Your 2026 Yield Plan

The episode explores how income investing has shifted from relying solely on dividends to incorporating options strategies like covered calls and cash‑secured puts to generate cash flow, especially from non‑dividend‑paying growth stocks. It explains the mechanics of these strategies, their...

By The Lead‑Lag Report – Blog