Patience Required

Patience Required You knew it was too good to be true. Any remaining thoughts about a rate cut in March have been completely quashed by the recent comments from the Fed Chair. However, the optimism remains that there will be cuts later this year. Even a cut in May is...

Final Lap

Final Lap At this time of the year the soothsayers turn out their estimates for next year. Last year, I called for $375 billion plus or minus $25 billion in either direction. I am covered here. We are at $346 billion through November with light issuance expected...

Can You Two Step

Can You Two Step At the first reading, I thought we were talking about some dance hall in Texas. They two step there. But, no, this time we are talking about what goes on in the House on the Hill. Although, this time some of the representatives may not be tapping...

The Fixed Income Brief: A No Logic Market

Guest economic analysis and muni commentary: John Hallacy This is a market that is not able to be analyzed using principles of logic that we have learned along the way. Imposing your own logic on the market is also likely to lead down the wrong path. One could...

Almost Anarchy

Almost Anarchy The recent events in our nation’s capital must be raising many questions around the world. The primary question must be is the USA able to be governed effectively and is the form of government in the USA essentially broken. In addition to the...

Reputation Intact

Reputation Intact This month has amply demonstrated that September is one of the worst months of the year for markets. Equity markets are well below the highs of the Summer with the Dow Jones Index below 34,000. Rates reached new highs earlier in the week and have...