“Sometimes good things fall apart so better things can fall together.” Marilyn Monroe One of the biggest regrets investors have is overstaying their welcome and holding on to a position for too long. They either miss the opportunity to take profits before things take a turn for the worse, or they ride a loser down […]
Rates: How High Is High? | August 2023
“How long is a piece of string?” Earlier this year, in a commentary littered with bad ‘star’ puns, we wrote about the concept of r*, or the neutral rate. This is the level for the overnight rate which neither stimulates nor restricts the economy and leads to stable inflation. We noted that the baseline assumption […]