TFTD: No Soup for Bond Investors

Equities are clearly happy, a Maybe the idea isnd some commentators tell us it’s because a tariff apocalypse has been averted. In the game of chicken that markets had been following with ill-concealed horror, perhaps the real winner was common sense, although equity investors are a close second.
BY JON WEBB

Equities are clearly happy, a Maybe the idea isnd some commentators tell us it’s because a tariff apocalypse has been averted. In the game of chicken that markets had been following with ill-concealed horror, perhaps the real winner was common sense, although equity investors are a close second. that the macro impact of tariffs will be so insignificant that we will hardly notice the effects on either inflation or growth. In which case, equities are a steal and bonds are more of a “meh”. The problem with this view is that the long-end has traded terribly. Bond markets are unhappy. Not so much a case of “glass half-full” as “No soup for you bond investors!”

SUBSTACK LINK: https://open.substack.com/pub/mi2partners/p/tftd-no-soup-for-bond-investors?r=1tabqm&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

Other posts

Thoughts From The Divide: Particularly Fluid

BY JON WEBB
Now a week out from the Fed making it clear that the squeeze of lower growth isn’t worth the juice of bringing inflation back to (not toward, Jerry!) 2%, Mohamed El-Erian summed up the state of play nicely in a recent article for the FT. The Queens’ College president noted that, “It is not often that you see a reputable central bank revise up its inflation and growth projections and yet strengthen a dovish tilt to its policy stance. Yet that is what happened in Washington last week when the Federal Reserve raised those projections up a notch and yet delivered two consequential signals – a willingness to tolerate higher inflation for longer and an openness to slow the ongoing reduction in its balance sheet.” Read more →

C8 Weekly Bulletin: Central banks meet amid forecast failures

BY ROBERT MINIKIN
Welcome to our first issue of the C8 Weekly Bulletin. With many years of market experience, we at C8 see real benefits from having a concise overview of key economic and policy developments, whatever the specific investment approach. We are happy to share this overview with our clients and partners, and, where appropriate, highlight indices on C8 Studio which resonate with the current market environment. Read more →

Day Hagan/NDR Smart Sector® with Catastrophic Stop Strategy December 2022 Update

BY BRIAN SANBORN
Day Hagan/Ned Davis Research Smart Sector® with Catastrophic Stop strategy, model and allocations update. Read more →
Back to all posts →