Another theme we expect to play out in 2023, and possibly beyond, is the outperformance of value stocks over growth... read more →
Three things to note on non-USA stocks: After a long and painful period of relative underperformance, non-USA equities relative and... read more →
One of the major stories – if not THE major story – for the capital markets during 2022 was the... read more →
The headline jobs number this morning was +223K which was roughly in line with the +200K estimate. Revisions to prior... read more →
One of the silver linings of the type of volatility that’s occurred over the past year is that it also... read more →
We’ll be putting out a list this week of our major investment themes for 2023 and beyond. Theme #1 is... read more →
Here’s the report card on capital market asset classes for 2022: What worked: very, very little. Oil (either flavor, brent... read more →
Whenever Fed chair Powell goes in front of a microphone or a podium, I get slightly nauseous. Powell never misses... read more →
The broad market backdrop continues to play out as we await the Fed’s 50bps rate hike on Wednesday. Inflation is... read more →
Market convention is to quote the shape of the UST yield curve by looking at 10Y UST v 2Y UST.... read more →