Portfolio Protection Revisited
It is said that “markets take the stairs up and the elevator down”. In upward trending markets, such as US stocks for the past several years,...
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US: Bond Market Conundrum 2.0
The time-varying term premium embedded in bond yields ensures that the Fed's ability to affect longer-term yields and, hence, overall financial...
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Markets Rallied but Investors Are Not Partying
Nearly half way into the year, equity markets have charted a bullish course but the chatter in the marketplace is not as gung ho as one would...
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Global Equity Seasonality: Unsplendiferous Summer
Seasonality Is a Many-Splendored Thing, but summer isn't so splendiferous.This is, of course, written with profuse apologies to Han Suyin, who...
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The Market Sentimentalist - Who's Eating Porridge?
Summary131 days into the Trump presidency (who’s counting?) and US equities are still rising but US Treasury yields have turned down after their...
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