“Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.” Sam Ewing Every now and then it would be nice to have a crystal ball.  As complete and utter bond nerds, one of the questions we would be asking is the direction of […]

“Since becoming a central banker, I have learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said.” Alan Greenspan Summer has officially arrived and brought with it a healthy dose of optimism.  The sunshine and second jabs have pierced through the corona clouds, as the […]

“The best time to buy a home is always five years ago.” Ray Brown This time last year, the Canadian Mortgage and Housing Corporation predicted that house prices would fall 9 – 18%. They got the magnitude about right, just the direction wrong. Over the past year, strong demand for detached homes and ultra-low mortgage […]

“Experience is simply the name we give our mistakes.” Oscar Wilde Experience is a great teacher and an invaluable commodity.  There is no substitute for it.  Or at least that’s what we tell anyone younger than us. The theory being that the more you see and do, the more knowledge you accumulate.  Collect enough knowledge, […]

“The only function of economic forecasting is to make astrology look respectable.” John Kenneth Galbraith Who would have thought the market spotlight could shift from Gamestop’s Reddit Army to the mundane world of fixed-income?  But with material losses in long-duration bonds and warnings of rising yields, interest rates find themselves at the center of attention […]