Years ago, in the middle of the raging bull market of the late 1990s, I taught a bond class in SMU’s continuing education program. One notable feature I highlighted in the class was how bond performance had matched stock performance since the beginning of the bull market in the early 1980s.
Posts Tagged ‘financial crisis’
Watch The Markets, Not The Fed
The Federal Reserve, along with most Central Banks around the world, are creating Cash and Credit at an unprecedented pace in the most ambitious economic experiment of all time. Yet despite Central Bankers attempts to create Cash and Credit (and hence inflation), the price of Gold fell from over $1900 to almost $1300. (more…)
It’s The Fed, Unfortunately
Looking back over the past year the defining point for the markets was Federal Reserve Chairman Ben Bernanke’s missive in September. Asset prices peaked with Ben’s pronouncement. Animal spirits are now dissipating. The reversal eventually sent Municipal Bond prices to their high November 30th, along with my proclamation that Municipal Bonds were in bubble territory, heading for a big fall.
The Madness of Crowds
With the countdown clock to the Fiscal Cliff now inside thirty days one does not need my monthly missive to stir fear, panic and depression. Washington has you covered this month. Therefore, I will take a more optimistic stance: I believe your Cash and Bonds are well positioned for the current and future environment. (more…)
Debt Matters
The narrative of the financial crisis is only beginning to be written. Slowly but surely every one of us will be able to sum up the crisis in two words: Debt Matters. As the Federal Reserve continues its policy of buying treasury and mortgage bonds we can debate whether this will end the crisis or just end badly. We should however already be able to agree: Debt Matters. (more…)
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