The VIX volatility index calculates how much the options markets imply the S&P 500 will move...
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Treasury Auctions On Deck
The U.S. Treasury will auction $38 billion of a ten-year note today and $23 billion of a...
Mortgage Rates And Spreads Soar
It’s no secret that mortgage rates have risen sharply. They now stand above those seen on the...
The Employment Report Shows Normalizing Job Growth
The BLS employment report showed that job growth has finally normalized to pre-pandemic levels. Per...
TINA Is Back But For The Bond Bulls
Equity investors used the acronym TINA to justify buying stocks at excessive valuations. TINA...
Fitch Downgrades America. Does It Matter?
On August 5, 2011, S&P downgraded the United States’ credit rating to AA+. Almost to the...
XOM Is Diversifying Well Beyond Oil
Yesterday we learned that Exxon (XOM) is in talks with Tesla, Ford, and Volkswagen about supplying...
Kashkari Is A Moderating Hawk
In last week’s Commentary, Doves Versus Hawks, we stated: “There appear to be two camps...
Flexible Japanese Monetary Policy Weighs On U.S. Bonds
Ten and 30-year U.S. Treasury bond yields rose sharply, with their yields piercing 4%. The driver...
PacWest is Back in the Headlines
Remember PacWest? Following the demise of Silicon Valley, Silvergate, and Signature banks in March,...