The Market in Pictures, August 25

by | Aug 25, 2023 | 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:   John Luke: It’s unusual for stocks to rally when real yields are screaming higher   Data as of...

Fitch Downgrades US Credit Rating

by | Aug 2, 2023 | Blog, Bonds

We’ve all seen the news that Fitch downgraded the US Government’s credit rating from AAA to AA+. Fitch’s move follows a similar cut by S&P about 12 years ago.    Source: Bloomberg as of 08.01.2023   Moody’s continues to rate the US AAA (wonder where the...

The Market in Pictures, July 7

by | Jul 7, 2023 | 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:   John Luke: Mortgage rates are moving higher again   Source: YCharts   John Luke: but US buyers...

Fed and Treasury on Collision Course

by | Jul 5, 2023 | Blog, Bonds

QT Slowly Eating Away Liquidity   Even with the spike in the Fed’s Balance sheet following the SIVB (Silicon Valley Bank) collapse, QT is still quietly going on in the background. The Fed has stayed course in their communication of the importance of shrinking...