With base effects taking hold of the year-over-year inflation reading, we offer some perspective on what the next couple months may hold for both CPI and core CPI.... Read More
The first quarter of 2021 has been one for the record books on the fixed income side. With 10-year yields rising roughly 83 basis points in the U.S., fixed income suffered its worst quarter from a total return standpoint in over four decades.... Read More
Inflows into equity ETFs outpaced outflows from equity mutual funds in February, resulting in one of the largest monthly inflows into stocks on record.... Read More
Although foreigners have added to their Treasury holdings since the pandemic started, they now own a smaller share of the market thanks to the Fed's massive purchases.... Read More
Next month, inflation data will begin to be skewed by pandemic-induced base effects. We attempt to quantify what these base effects could look like under even the most benign scenario as a precaution.... Read More
Despite almost 900k people missing work due to inclement weather in February, the payrolls report still managed to beat almost all analysts' estimates.... Read More
Bonds are off to one of their worst starts to a year on record. Small cap and value stocks continue their ascent. The broad-based commodity rally has many calling for a super cycle.... Read More
Despite being extremely rich when compared to Treasuries, muni bonds continued to attract record inflows in January.... Read More
The Fed's holdings of Treasury securities continues to grow and remains larger than all other central banks' holdings combined.... Read More
The BLS added a line of questioning to its monthly CPI survey to better assess housing inflation during the pandemic.... Read More
There are still almost 10 million fewer jobs in the U.S. than there were prior to the pandemic. As might be expected, a large chunk of these lost jobs are in the leisure and hospitality industry.... Read More
An update on the returns of the most shorted stocks in the Russell 3000... Read More
Flows into corporate bond ETFs and mutual funds remained strong through the end of 2020.... Read More
A look at the size of various markets compared to the U.S. economy... Read More
Russia now holds more gold than dollar assets after a decade-long reduction in Treasury holdings.... Read More
Gasoline prices rose over 8% in December, helping prop up headline CPI.... Read More
A recent study found over 93% of the 6 million higher wage earners laid off during the pandemic had returned to work. By contrast, only half of the 12 million lower wage workers had returned to work over the same period.... Read More
A recap of the best and worst returns across major asset classes in 2020... Read More
Equity funds finally snapped their streak of 20 straight monthly outflows, with ETF inflows outpacing mutual fund outflows.... Read More
The Fed now owns roughly 13% of the U.S. Treasury market. Foreigners are still the largest single owner, holding almost 30% of all Treasury securities.... Read More