With fears of oncoming recession still swirling, the corporate bond market continues to mostly mimic a big shoulder-shrug about that... read more →
Yesterday’s CPI inflation data notes an economy that still has elevated inflation, but the trajectory of inflation is cooling and... read more →
We talk often/always/incessantly about “cycles”. Market cycles are driven by the broad availability and cost of money. Market cycles are... read more →
Recession, earnings, the Fed, ongoing war, housing concerns, debt ceiling, over-valuation…. The gloom can crush you. Don’t listen to it.... read more →
We continue to believe that the likelihood of a recession in 2023 is someplace between absolutely certain and virtually guaranteed.... read more →
Financial assets performance Jan 2023 v Jan 2022 – what a difference a year makes, especially after the fastest rate... read more →
The long-term growth in money supply (M2) and the long-term level of inflation (CPI) do track together. Money supply over... read more →
In 2022, investors were hyper focused on inflation and the Fed, so much so that bad news (on the economy)... read more →
We’ve been talking about weak investor sentiment now dating back to last spring AFTER inflation started rippin’, AFTER the Fed... read more →
As our Sean Dillon has been saying for a while now, underlying market technicals have dramatically improved since late last... read more →