02.09.2023 – As the Curve Flattens
In what has become a familiar pattern during several, post-FOMC meeting new conferences over the past year, seemingly dovish comments delivered by Fed...
02.02.2023 – Dovish Fed Redux?
Federal Reserve Chairman Powell surprised investors and markets yesterday with a curiously dovish set of comments regarding goods disinflation and loo...
01.27.2023 – Fed Action and M2 Contraction
As those regular readers of this publication will know, we have long lamented the meteoric rise in money supply and the excess inflation created by ex...
01.20.2023 – Has Retail Sailed?
This week’s economic data was headlined by Producer Price Index (PPI) and Retail Sales releases for December, which revealed further disinflation in...
01.13.2023 – Third Time’s A Charm?
This week’s Consumer Price Index (CPI) data revealed a third, consecutive month of moderating prices as the cumulative effects of 425 basis points of...
01.06.2023 – New Year’s Bounce
Both stock and bond markets rallied to start 2023 as investors look forward to the end of the most aggressive FOMC tightening in over 40 years amidst...