Its amazing what passes for amazing these days! The US fixed income markets have been mesmerized by a 50bps move in 10yr notes. Yes, it appears somehow that a 50bps drop, from 3.00% to 2.50%, over the first 5 months of 2014 is somehow worthy of great excitement!!! To...
I wonder what the haters will latch onto next. The list of things to fret about in 2014 has been seemingly endless - Russian aggression, US underemployment, cold weather, soft Q1 data, Chinese credit, demographics, inequality, entitlements, tapering, credit bubbles...
Way back in the Greenspan era, there was a term which was often used to describe imprecise FedSpeak - it was called "purposeful obfuscation". Alan Greenspan perfected this art of confusion over his 18+ year tenure as Chairman. When asked by layman lawmakers about...
Back in February, just around Valentine's Day, I issued a short poetic summary of my views on our newly anointed Fed Chair. It went like this: Roses are red Violets are blue Janet's a dove Buy more spoo That was right around the time of our first "spoo dip" in 2014....
It's that time of year again - the time when sell side firms campaign for Institutional Investor votes. I have to admit, I don't understand exactly how the process works. Last year many of you were kind enough to make me your first place vote in the overall "Fixed...
It's that time of year again - the time when sell side firms campaign for Institutional Investor votes. I have to admit, I don't understand exactly how the process works. Last year many of you were kind enough to make me your first place vote in the overall "Fixed Income Strategy" as well as the […]
