The Death of 60/40: Where are we now?

At the beginning of 2022, I wrote a series, “The Death of 60/40.” The thesis was pretty simple. Real yields on bonds were negative, stocks were richly valued by historical measure, and the Fed had unleashed a monetary storm resulting in rising inflation. My conclusion that traditional stock and bond portfolios, especially passive index portfolios,…

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Inflation Has Not Peaked Yet

Consumer Price Index (CPI) data was released yesterday and it’s a doozy. In case you missed it… the CPI climbed to 9.1%. That’s a 41-year high. Not only is inflation at a four-decade high, but the momentum with which it has happened has the Fed scrambling for answers. The increase in consumer prices in June…

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