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MI2 Partners: Thoughts From The Divide: Move Fast and Break Things

BY JON WEBB
We suspect many of our readers may have a passing familiarity with the work of Olivia Rodrigo. That’s not because we are popular with her fan base, but rather because we suspect many of our readers may live in close proximity to teenage girls. That’s certainly the case for TFTD, and yours truly was struck by how well the talented Ms. Rodrigo seemed to understand the problems of both pubescent girls dealing with first love, and senior WH officials as they deal with the collateral damage associated with their policies. Read more →

Thoughts From The Divide: Adjustments

BY JON WEBB
Last week’s excitement in bond markets came courtesy of Governor Waller offering a mechanical rationale for rate cuts. Simply, “If inflation goes down, you would lower the policy rate.” This came, of course, in the context of warnings about financial conditions and other caveats, but as is so often the case, what the markets heard was “so you’re telling me there’s a chance?”. That doesn’t mean that we disagree with the market’s read of where the Fed’s head is. Fed Governors don’t make too many boo-boos with their messaging, and when they do, it’s often an error of timing rather than content. The market has now priced cuts down to “around 4% by the end of 2024” and while that seems perhaps overdoing the enthusiasm a tad, we suspect that the market has gotten the gist about right.  Read more →

NDR Dynamic Allocation Strategy February 2025 Update

BY BRIAN SANBORN
Dynamic Allocation Strategy, indicators, weightings update Read more →
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