Bond Market Review – 5/18/2022

Dazed and Confused Though the FOMC raised their funds rate with the largest hike since 2000 by a widely expected 50 bps on May 4th, investors were encouraged by Fed Chair Jerome Powell’s post–statement comments that increases of 75 bps were “not something that the...

Bond Market Review – 5/2/2022

The MagicalMystery Tour Changes in interest rates, inflation, stock prices, and Fed policy are not trivial. The consequences of errant policy or positioning can disrupt economies and easily lead to billions in portfolio losses for those on the wrong side of a move....

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...