Higher prices have led to tighter financial conditions. Mortgage rates up a lot, gasoline prices up a lot, UST yields higher, credit spreads wider. For the past five months, both the bond and stock market has basically been doing the Fed’s job for it – tightening financial conditions in the face of... read more →
Jun
21
As the latest sign that the economy is slowing down, the once red-hot housing market is starting to sputter. Based on data released this morning, only 5.41 million existing homes were sold in the US in May, which is 3.4% lower than the prior month and 8.6% lower than the... read more →
Jun
14
There are a wide range of investment outsourcing options available to advisors these days. Undoubtedly, the right one is out there for you and your clients. But why outsource? Findings from a recent survey of advisors by AssetMark best sum up what we have been saying for years: “To achieve... read more →
Jun
09
It seems like no one is talking about the yield curve any more. During the last week of March, when the 10-2 year treasury spread inverted very briefly, roughly 3,800 news articles mentioning the yield curve appeared on Bloomberg (and we wrote our fair share on the subject). Last week,... read more →