“Great success breeds a lot of things, including sequels.” Dwayne ‘The Rock’ Johnson This time last year, 2023 was being touted as the ‘Year of the Bond’. Elevated yields offered investors attractive income and the prognosticators were forecasting rate cuts to start in the summer. Being good students of Yogi Berra, we understand that ‘it’s […]
The Immaculate Disinflation | January 2024
“It’s a riddle wrapped in a mystery inside an enigma.” Winston Churchill We have long maintained that inflation is a complex and mysterious beast. With so many moving parts, it is nearly impossible to model and predict. A task made even more difficult these past few years, with new dynamics emerging from the pandemic, extreme […]