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.
Posts Tagged ‘fiscal cliff’
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…)
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