A Year of Single Digit Returns
March 23, 2022 Good morning, World bond markets collapsed Monday with 2yr treasury yields, for example, rising from 1.93% to 2.11% in a matter of hours. Equities were flat on the day. The selloff in world bond markets deepened yesterday, putting short-dated Treasuries (2yr) on track for their worst quarter performance in almost four decades. […]
When to Re-align
March 21, 2022 Good morning, In the midst of the Fed turning hawkish and raising rates last week, and with no tangible evidence of progress on resolving the war, the market staged its largest one week gain in a year and a half. The S&P 500 jumped +6.2% on the week, effectively wiping away half […]