by Aptus PM Team | Sep 26, 2025 | Blog, Bonds
Tug of War: Goods vs Services Inflation Goods inflation is rising because of tariffs, while the rise in services prices stabilizes. Source: Apollo. As of 9/22/25. As a whole, 72% of CPI components are growing faster than the Fed’s 2% inflation...
by Brian Jacobs | Jun 27, 2025 | Blog, Investment Concepts
In a prior post, Fixed Income: Coupon is King, we explored the long-term return profile of the Bloomberg U.S. Aggregate Bond Index (the “Agg”). One of the more surprising takeaways was just how modest the Agg’s outperformance has been relative to...
by Aptus PM Team | Nov 21, 2024 | Blog, Bonds
The FOMC has eased 75 bps since September, but financial conditions have tightened about 25 bps since then due to the runup in real yields (the 10 year has backed up 80bps). Conditions are still “loose”, but not as loose as one might typically expect after 75 bps of...
by Aptus PM Team | Jan 26, 2024 | Blog, Charts
Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence: Brett: Core Personal Consumption Expenditures (PCE) is said to be the Fed’s favorite indicator, and it’s...
by Brian Jacobs | Jan 23, 2024 | Blog, Investment Concepts
In a previous post, we outlined how shorter-duration bonds may now present an intriguing opportunity, as they now offer a yield surpassing forecasted inflation, a welcome shift from a decade of near-zero rates. In this post, we’ll outline another reality: while rates...
