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July 5, 2023
By just about any measurement, tech stocks are experiencing one of their best total return periods on record.
Today's topics include the rally that surprised everyone, looking at a 4 handle, PIMCO with a 'hard landing' call, emerging market economies defy expectations, ditching dividend mainstays for the AI boom, caution on bank stress tests, a quiet recession in China, economic & personal health, crude traders betting on lower prices, and student loan payments resume in September after three years
A replay of our July 6, 2023 conference call.
Money market funds saw three straight weeks of outflows, but this may be partially due to quarterly taxes being paid by corporations. The retail crowd continues to pile into money market funds.
Today's topics include checking in on the Fed's repo facility, yesterday's big move in Treasuries & the yield curve, governments tackle corporate profit margins, stress tests & bank failures, revisiting the 2% inflation target, German inflation jumps, China's economic struggles are dimming the future outlook, more on BofA's bet on bonds, the ECB staring down a double-edged sword, and more on the end of Libor.
A Long-Term Look at Interest Rates
A Long-Term Look At US Life Expectancy
A Long-Term Look at Crude & Gasoline Prices
A Long-Term Look at Annual Stock & Bond Relative Returns