March 1, 2021

The Markets Students of financial markets may have noted a historically unusual event last week. On Thursday, the yield on 10-year U.S. Treasury notes briefly matched the dividend yield for the Standard & Poor’s (S&P) 500 Index. This type of convergence is...

February 22, 2021

The Markets It’s a contrarian’s dream come true. Contrarian investors like to buck the trend. They buy when other investors are selling and sell when others are buying. Last week, Bank of America (BofA) delivered a contrarian’s dream. BofA’s monthly survey of 225...

February 16, 2021

The Markets Way back, when radio disk jockeys played 45-rpm vinyl singles, the A-side of a disk was the song the record company was promoting and the other side – the flip side – held a song that sometimes had an equal or greater impact. For instance, the flip side of...

February 8, 2021

The Markets It’s not a black diamond ski run yet, but the yield curve for U.S. Treasuries is steeper than it has been in a while. A yield curve is the line on a graph showing yields for different maturities of bonds. Yield curves provide insight to bond investors’...

February 1, 2021

The Markets They say people watching the same event often see different things. That seems to have been the case last week when share prices of a few companies experienced tremendous volatility. Some cast the events as a David vs. Goliath morality tale, however,...

January 25, 2021

The Markets Last week, as COVID-19 vaccination efforts continued, there was speculation about stock market corrections and asset bubbles. On Sunday morning, Bloomberg reported 63 million doses of the coronavirus vaccine had been administered across 56 countries. In...