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In the world of interest rates, things have finally returned to normal. Short-term rates are now lower than long-term rates and that seems right. Investors should get compensated more for longer duration bonds compared to shorter duration bonds. The yield curve began to… More >>

As the U.S. economy creeps towards a round of rate cuts, I think it’s important to take a step back and look at what is going to happen to all the money on the sidelines. Right now, money markets are sitting on a record $6 trillion. 1 The allure of higher yields on… More >>

We’ve had an eventful few weeks of economic data that has led to a significant shift in interest rate policy, with the Federal Reserve Chair announcing a decisive move to lower rates. Here is a summary of what he said in his recent speech. 1 On Interest Rates: “The… More >>

The nonstop nagging question of the last couple of years has been, “When will inflation abate?” I was certainly in the transitory camp, expecting inflation to subside much earlier than it did. However – and I say this cautiously – we may finally be witnessing the… More >>

Market performance last week was the most consequential in years and at the same time it was like nothing occurred. If you went on a media vacation for the week, you would have hardly noticed any change in the major indexes. The S&P 500 had a precipitous drop on Monday… More >>

We are finally getting to the long-anticipated stage where the economy is showing signs of weakness, but not excessively so. Equity markets will reflect that uncertainty with increased volatility. That is to be expected. What will be unexpected is the behavior of those… More >>

This week, as the Fed's interest rate setting committee convenes, they face another opportunity to achieve the elusive 'holy grail' of monetary policy: soft-landing the economy. Balancing between an economy that's neither too hot (inflationary) nor too cold (high… More >>

Albert Einstein once quipped, “Not everything that can be counted counts, and not everything that counts can be counted.” 1 With the U.S. Presidency being contested and the Democratic Party in chaos following President Biden's withdrawal from the race, it’s easy to get… More >>

How to Cope with Shocking Events and Your Portfolio. I have often called Presidential election years the ‘Silly Season.’ All the posturing, political speech, and empty promises make for a cynical consumer. However, things got serious this season. The attempt on former… More >>

We are entering the phase of the economic cycle where things can look and feel a little painful. Yet equity returns can act in a counterintuitive manner. Let me explain. The recent jobs report suggested that the labor market was in good shape. However, when you look at… More >>