Due to fully booked portfolio management and client responsibilities during recent months, I apologize for the lack of new content on the site. I will continue to occasionally post my insights and commentary on this site as I have for years. Many opportunities await. Buckle your seat belts and stay tuned!
Public official intentions on both the left and the right suggest the conditions underpinning populist political forces will continue.
The Departure from Sound Money: Current Generation Spends More on Needs, Less on Wants Than Prior Generation (Chart) – You Bet This Will Shape Future Politics and Markets
You invest in the markets of the future not the markets of the past. It is time to start expecting a more inflationary future led by both left and right populist political leaders.
The metropolitan area with the fastest appreciating real estate market in the world has a central bank operating depressionary depths-of-crisis monetary policy.
Global Macro Backdrop: Absolutely remarkable and historically unprecedented Developed market equity indexes are scorching higher across the board. New all-time highs or multi-decade highs are being reached nearly every day in the US, Japan, Germany, and elsewhere. Bond yields are constrained across the duration and risk spectrum near multi-decade lows. European sovereign 2-year notes in periphery nations such as Italy, Portugal, and Spain are negative and continuing to hit new lows. Bond spreads between Germany and the periphery are generally narrowing to new lows, pricing in similar levels of risk between EU nation states. European high yield bonds are trading below 2%. Equity, bond, and currency market volatility are all at or near historic lows. This is the least volatile […]