Bond Market Review – 6/15/2022

Multiverse of Madness Friday was painful enough, but nearly every asset class got clobbered on Monday. Bonds had their worst 2–day drop since 1987. Stocks, bonds, gold, and silver traded lower. Bitcoin has lost another 26% since the release of Consumer Prices (CPI)....

Bond Market Review – 3/22/2022

25 or 6 to 4 After 22 years, we found a way to work in this early–Chicago song as a theme! The Fed hiked 25 bps as widely expected but then signaled 6 more to come – at each of their upcoming (and remaining) 2022 meetings. Completing that thought, lone dissenting...

Bond Market Review – 3/07/2022

Back in the U.S.S.R. The Beatles tune made it sound like a good place to visit, but for decades the Soviets had to build walls and use armed guards to keep people in. Vladimir Putin managed to wait for the Chinese Olympics to end in order to invade Ukraine in an...

Bond Market Review – 2/18/2022

Exit Pandemic – Enter Pandemonium Much of the downside of the pandemic has been reversed – though it’s still hard to understand news and interviews through masks. If you’re still writing the Year of the Ox on your checks, the Chinese Year of the Tiger...

Bond Market Review – 1/31/2022

Déjà vu – all over again From a personal perspective, January 2022 was very much like 2021. I managed to contract Covid in the early days of each month. Much like the first episode, I felt the onset of great fatigue and had to weather out the storm. Though not...