With that preface, on to the show … What is a reasonable expectation for long run US equity returns? The market history we all learned in finance class or on the…
Month: August 2021
Powell’s (Jackson) Hole-in-One, Satellite iPhone?
Four grab-bag topics today: #1: Chair Powell’s Jackson Hole speech on Friday broke little new ground, and he waited until the very end to give his color on asset purchase…
Treasury Yields Vs. Issuance, Global Corp Earnings Power
Two Data items today: 1: US Treasury debt issuance and yields. We’ve heard concerns from clients that the Treasury will have to ramp up issuance over the rest of 2021 and…
10-Year Yields & Cyclicals, Worst Case US Inflation
Two Data Items today: #1: 10-year Treasury yields, which have started to show signs of life again. After going from 0.9 percent at the start of 2021 to 1.75 pct at…
US Equity Vol During Tapering and Rate Hikes
Equity market volatility reminds us of the old saw “Everybody talks about the weather, but nobody does anything about it.” For example, the CBOE VIX Index, aka the “Fear Gauge”, is…
Back to School Bust, Global Returns since 2020
Two Data Topics today: #1: US back to school shopping season is either happening very late this year or American consumers are becoming a bit wary. This is a Google…