• Value Lies in the Eye of the Holder

    There has been plenty of ink spilt lamenting how Central Banker’s policy have distorted bonds. In the U.S., one can still find Treasury bonds with a positive yield but globally over $13 trillion of sovereign bonds have negative yields. The poster child for this insanity is a 50-year Swiss sovereign bond which yields negative .023%. Try to make […]

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  • Get Ready for Volatility

    The stock market, as measured by the broad market indices, has been contained within a historically narrow range of late. In the 21 trading sessions since bursting to a new high on July 11th, the S&P 500 Index has not had a single day of greater than 1% move and it has only registered 1.2% […]

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