Day: October 15, 2023

The strangest thing transpiring in the first nine months of 2023 is the level of short and long-term rates versus the long-term optimism of passive US stock market owners. As we write this, the 30-year Treasury is hitting 5% and US stock investors have not gone into a general panic. The bond market is feeling very uncomfortable, but bonds lose with inflation, right? […]

If you are a regular reader or have met with us in the last couple of years, you are aware that we have a very dour view of how the US stock market will be impacted by the unwinding of the financial euphoria episode which initially peaked in late 2021. […]