There’s no sugarcoating it – it’s been a very rough week for all of the peak inflationists who’ve been arguing that the worst is behind us. First the Consumer Price... read more →
The demise of meme stocks, day trading, and Robinhood (HOOD) Excess money supply growth led to excess inflation which led to a rise in bond yields. That’s the secondary source of... read more →
The pain inflicted on high quality, long duration bonds Between March 2020 and December 2021, the US produced about $8 trillion in stimulus to economically battle the pandemic. Roughly half... read more →
New WebsiteWhat does behind the curve look like? The Federal Reserve is about to tighten monetary policy, i.e., raise rates, while high yield spreads are above their historical mean. They... read more →
Higher prices have led to tighter financial conditions. Mortgage rates up a lot, gasoline prices up a lot, UST yields higher, credit spreads wider. For the past five months, both the bond... read more →
As the latest sign that the economy is slowing down, the once red-hot housing market is starting to sputter. Based on data released this morning, only 5.41 million existing homes... read more →
The Fed can’t do anything about the supply of goods and services but does control the creation and destruction of economic demand. In 2020 and 2021 the Fed was creating... read more →
Elevated inflation and a Fed that is way too far behind the curve is where we find ourselves today. The Fed most likely will hike rates 75bps on Wednesday – it’s... read more →
There are a wide range of investment outsourcing options available to advisors these days. Undoubtedly, the right one is out there for you and your clients. But why outsource? Findings... read more →
It seems like no one is talking about the yield curve any more. During the last week of March, when the 10-2 year treasury spread inverted very briefly, roughly 3,800... read more →
