Bond Market Review – 12/31/2021

Pivots and Divots 2021 will end having seen huge pivots in the markets, Fed policy, politics, and economic recovery. The Fed finally capitulated that inflation is more permanent and finally retired the use of ‘transitory.’ They are as hawkish as they’ve been since the...

Bond Market Review – 12/14/2021

Omicronal Rodeo The markets reacted with renewed panic on the news of yet another Covid variant entering the fray. The first few reports we heard said the Omicron variant was very contagious but not very dangerous. Those continue as even follow–up reports said Omicron...

Bond Market Review – 11/19/2021

Show Stoppers, Eve Poppers, and Job Hoppers The FOMC did not disappoint with their November statement. They held on to their favorite ‘T’ word. However, this time they modified the usage a bit in saying that inflation was elevated but “largely reflecting factors that...

Bond Market Review – 11/02/2021

The Tantalus Armada Comic Steven Wright once said: “I have the world’s largest collection of sea shells. I keep it scattered on beaches all over the world. Maybe you’ve seen some of it.” America’s businesses and manufacturers have large inventories as well, but it’s...

Bond Market Review – 10/12/2021

The Blank Check The debt ceiling was raised enough today to enable the U.S. government to pay its debts through early December. While most of us grow weary of lawmakers refusing to deal with such matters until fear mongering and last–minute theatrics have run their...

Bond Market Review – 09/29/2021

Delay of Game A drawback to financial newsletters is extended news cycles that emanate from long rounds of QE and the subsequent often–elongated taper timeline. Another is the quashing of news that is biased and even counterintuitive such as the still–lingering...

Bond Market Review – 09/10/2021

Dangerous Curves Ahead Not only was there a huge jobs miss in August, the Fed’s Beige Book noted a deceleration in growth. Even the Atlanta Fed’s GDP–Now forecast has been slipping. Their Q3 estimate had been at or above 6% through August 24th. It then fell from 3...

Bond Market Review – 09/02/2021

Summer Vacation No matter the plans or distance of any vacation, since the beginning of time the driver has heard that quintessential question: Are we there yet? In this case, Fed Chair Jerome Powell is at the helm and the destination is tapering asset purchases. Our...

Bond Market Review – 08/20/2021

Jobs, More Jobs, Jabs, and Records Despite inflation, COVID variants, and deep suspicions about trusting the vaccine jabs, records have been set in equities and economic data. As unlikely as an ‘up close’ would have seemed on Monday with global stocks breaking lower...

Bond Market Review – 08/03/2021

All that glitters is not Gold Though it’s still great to win one, the gold medals awarded at the Tokyo Olympics are mostly silver with roughly only 6 grams of gold plating. With the 550 grams of silver, the actual metal value is close to $800. (A real ‘solid gold’...