If stock investors are glum, then bond investors must be downright depressed. The combination of rising inflation and aggressively tightening central banks has led to one of the worst years for bonds since the early 1980s. As of this writing,… Read More »Bond Vigilantes Are Back in Town
For more than a decade, Wall Street and the Federal Reserve had seemed like they would be best friends forever, but no longer. Like a romantic relationship gone bad, the Fed, once Wall Street’s main squeeze, is now viewed with… Read More »Central Banks Hit the Panic Button
Investors can be forgiven if they’ve got a swimming feeling in their heads as they read financial market news. Journalists no longer use the words “rise” or “fall” to describe market direction but rather “plunge,” “plummet,” “nosedive,” or “soar,” skyrocket,”… Read More »With a Bang or a Whimper?
Recently minted day traders, newbie speculators, and seasoned investing veterans alike are being reintroduced to the idea that stock prices move in two directions. Long fed by the Federal Reserve’s repeated “quantitative easing” (QE) policy, Wall Street mopped up each… Read More »It Was a Lovely Dream
We remember the great events of history, but we seldom remember the path it took to get to them. The convoluted sequence of events and decisions that have led to memorable, sometimes cataclysmic, outcomes are muddied by the effects of… Read More »Butterflies Flapping Their Wings