Jul 14, 2023 | Monthly Commentaries
“It’s time for the never-tedious Super Bowl halftime show.” The Simpsons At the start of the year, there was a sense of optimism amongst bond investors. It appeared the worst of the rate hikes were behind us, and we were entering the final innings of this...Jun 9, 2023 | Monthly Commentaries
“Look to the stars and from them learn” Albert Einstein Last month, we looked at the neutral rate of interest, which is also known as the natural rate, the equilibrium rate, or in its nerdier, variable form as r*. This is the level for the overnight rate which...May 9, 2023 | Monthly Commentaries
“The optimist proclaims that we live in the best of all possible worlds; and the pessimist fears this is true” James Branch Cabell After 19 years of pure pain and suffering, Maple Leaf fans finally had a modicum of playoff success to celebrate. And celebrate they...Apr 13, 2023 | Monthly Commentaries
“Like life, basketball is messy and unpredictable.” Phil Jackson It seems this year, March Madness was not restricted to college basketball, with the excitement and unpredictability of the tournament spilling off the courts and into financial markets. As the NCAA’s...Mar 10, 2023 | Monthly Commentaries
“Ask no questions, and you’ll be told no lies.” Charles Dickens Boring old bonds have been anything but lately. Investors that were lured back into fixed income have been treated to some wild bouts of volatility, with the pendulum swinging from one extreme to...Feb 8, 2023 | Monthly Commentaries
“What’s love but a secondhand emotion?” Tina Turner On the fourteenth day of this month, romantics across the globe will celebrate what Plato once called theia mania, the divine madness. While the origins of Valentine’s Day lie in ancient Rome, the first...
