Introduction: No Pain, No Gain (Literally) “What are you looking so miserable about? There's a whole ocean of oil under our feet!” Last week, the Federal Reserve’s Open Market Committee (FOMC) made its first policy move of Chair Kevin Warsh’s tenure, raising its...
For example, we’re pretty sure that Maynard James Keenan did not write the two-part “Parabol/Parabola” with the equity and bond markets in mind, but that does not mean that we, as equity and bond market participants, can’t find meaning and message in the song, mostly as some markets, like yields, “went parabolic” this week.
One of the most popular assertions amongst fixed income strategists and investors today is that the recent jump in yields is not a concern because it is merely a return to “normal” levels that were experienced in the 2000s, prior to the Great Financial Crisis (GFC).
Introduction: Mourning a Legend “Storms make trees take deeper roots.” The world lost an icon this week when Dolly Parton passed away far too soon at the age of 80. Depending on what generation you belong to, you may know Dolly best for her talent, her wit, her...
This week we are providing our assessment and analysis of the second quarter U.S. equity earnings season, a quarter that, once again, illustrated remarkable corporate profit growth, which continues to serve as a key pillar of support for many equity market...
Another Roaring 20s for U.S. Consumers “Can’t repeat the past? Why, of course you can!” Through years of lockdowns, re-openings, inflation and policy uncertainty, consumers have done unfathomably well at supporting the U.S. economy in the 2020s. We are now well into...
These days I think are so strange No cuts, no trust Name no names “So Far So Fake”, Pierce The Veil Given the title of this piece, using Pierce the Veil’s 2023 banger “So Far So Fake," let’s be clear from the start: we are not calling all of the remarkable...
Introduction: A Strange Trip for Rates So Far in 2026 "I am completely operational, and all my circuits are functioning perfectly." Year-ahead consensus predictions rarely get things perfectly right, but it’s fair to say that despite looking very promising for the...
Like a bad star, I’m falling faster down to her She’s the only one who knows what it is to burn “What It Is to Burn”, Finch In a podcast recording on Thursday, we shared that Google’s 2Q earnings reminded us of that great Deftones song “Change (In the...
Introduction: Know Your Enemy “Think ya know what it’s all about? Huh! Hey yo, so check this out!” Last week’s whirlwind of Fed commentary and inflation data created a few market gyrations but ultimately left interest rates lower and the need for rate hikes less...