Follow-ups and New Thoughts: My first investment thought today is that TIPs just became more interesting. TIPs started to fade as investors contemplated 5-7 rate hikes, because coupon bonds would then provide more inflation protection. If we assume that the…
Follow-ups and New Thoughts: Bill Hinch is a 35-year investment veteran who now runs the First Eagle Small Cap Opportunity Fund after a long, successful stint at Royce Funds. I took the following notes from his presentation last Tuesday night:…
Follow-ups and New Thoughts: 1) November Employment Report The number of jobs created in November (210,000) may have been a disappointment but I believe there are big questions about how that measure accounts for home businesses. Unemployment claims keep falling…
Follow-ups and New Thoughts: So little happened this summer that every time I sat down to write about the concern of the moment, it quickly faded and the market made new highs. I do think the current environment merits some…
Follow-ups and New Thoughts: 1) On July 7th the 10-year Treasury traded at less than 1.30% for a short time before closing near 1.32%. Some of the factors behind the decline are: Reduced expectations for 2022 and 2023 growth Systematic…