A Story About Japan, the U.S. Dollar, & Gold

Investors woke up to a major macro surprise Tuesday morning when the Bank of Japan announced a de-facto rate hike by allowing the yield on their 10-Year Treasury to reach .50%. Although the Bank of Japan (BOJ) didn’t actually raise rates, the net result is the same. What the BOJ did was allow the 10-Year…

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Big Moves for a Forgotten & Unloved Asset Class

Have individual investors forgotten there is more than one asset class? It sure feels that way, because lately, all the excitement seems to be about one asset class – stocks. I get it, stocks have had an incredible rally coming off their October 2022 lows. But I’m not focusing on stocks today. There’s another asset…

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This Has Everything to Do with Rising Rates

In case you missed the memo, 2022 has been all about rising bond yields. It’s undeniable. We can’t talk about stocks without including a conversation about the bond market.  More specifically, the direction of bond yields. Yields are once again pushing up against their June highs, so investors must understand the correlation between the equity…

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We’re Seeing a Bid In Bonds

This will be interesting to any of you bond buyers out there…  After a historic meltdown in the first half of 2022, bonds (expressed via Treasuries) are catching a bid. We can debate all day long why Treasuries are seeing strong demand, but what isn’t up for debate is price… and it’s rising. Take a…

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The Rules Have Changed

Earlier in the week, I mentioned a very classic market pattern playing out in the equity indexes. I think it warrants a deeper review.  Why? Because 2022 is not 2020, or even 2021, or virtually any other year going back a decade…  Any investor still living under the illusion that we’re in the same investment…

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