Insights

Explore Insights

Monetary Policy
May 6 2022
Monetary Policy .
Article Driving the point home
May 4 2022

With a 50 basis-point hike, the Fed hopes to stick it to inflation. 

May 2 2022
Liquidity .
Article The table is set
May 2 2022

The Fed rate cycle and the SEC money fund reform process are ready to begin in earnest.

April 28 2022
Monetary Policy .
Article Investors should stay defensive if the Fed follows its rhetoric
April 28 2022

More rate hikes would favor cash, floating-rate securities and value stocks.

May 13 2022
Interest Rates .
Article Federal Open Mouth Committee
April 26 2022

The Fed's abundant messaging has the market doing its work for it.

April 22 2022
Markets/Economy .
Article Dominos falling
April 14 2022

Russia’s invasion, higher energy costs, soaring inflation, hawkish Fed…

May 10 2022
Fixed Income .
Article Mosaic of uncertainties merits caution
April 11 2022

Bonds wrestle with pricing Fed, war and inflation outcomes.  

April 8 2022
Equity .
Article The Fed WILL succeed
April 8 2022

The only question for investors: at what cost?

April 26 2022
Markets/Economy .
Article Is the equity head fake over?
April 7 2022

A host of negative factors could end the recent rally.

April 25 2022
Equity .
Article Call us 'cautious bulls'
April 5 2022

Year-end S&P forecasts for 2022 and 2023 lowered to 4,800 and 5,100.

April 7 2022
Liquidity .
Article Balancing expectations
April 1 2022

The Treasury yield curve isn't matching the futures market’s view of rate hikes.

March 18 2022
Monetary Policy .
Article Fed takeaway: yields are heading higher
March 17 2022

Policymakers don't want to undo 40 years of restrained inflation expectations.

April 4 2022
Monetary Policy .
Article An aggressive Fed
March 16 2022

The Fed hiked rates and put inflation on notice with hawkish projections.

March 17 2022
Ukraine Crisis .
Article Geopolitical risks
March 7 2022

Ukraine, energy, inflation and Fed driving markets.

March 1 2022
Monetary Policy .
Article Rates' projected path looms large
March 1 2022

The FOMC 'dot plot' will be as important as an actual hike.

March 7 2022
Ukraine Crisis .
Article Conflict may slow Fed's plans
February 24 2022

The crisis in Ukraine likely takes a 50 basis-point hike in March off the table. 

February 24 2022
Equity .
Article 'Good news,' 'Bad news' and 'Not news'
February 15 2022

A better back-half looms for equity investors. Getting there could be rocky.

February 11 2022
Equity .
Article Walking a tightrope
February 11 2022

Fed must juggle inflation versus recession risks.

February 24 2022
Monetary Policy .
Article Ready, set...
February 1 2022

Rate normalization is almost a go.

April 7 2022
Monetary Policy .
Article A hawkish clarification
January 26 2022

The Fed didn't raise rates today, but Chair Powell let the markets know it's coming.

February 8 2022
2022 Outlook .
Article Onward and upward
January 3 2022

Three things to watch in 2022.

December 17 2021
Equity .
Article Do you suppose Santa is wearing a mask?
December 17 2021

Omicron is weighing on psyches, but not so much markets ... yet.

December 15 2021
Monetary Policy .
Article Acceleration
December 15 2021

The Fed increases the pace of taper and expectations for rate hikes.

December 17 2021
Equity .
Article There's a reason it's called the 'Wall of Worry'
November 22 2021

Market risks stay skewed to upside but inflation and possible policy errors lurk.

November 3 2021
Monetary Policy .
Article Taper is on; rate hikes TBD
November 3 2021

The Fed announced it will cut the pace of its asset purchases, but not on a preordained path.

December 1 2021
Liquidity .
Article A familiar course
November 1 2021

The success of the Fed’s first taper gives us confidence it will work well again.

November 23 2021
Equity .
Article Lots to worry about ... fueling the bull forward
October 22 2021

Still room to run, with a tilt toward cyclical companies with pricing power. 

November 10 2021
Fixed Income .
Article Maybe markets should forget about 'transitory'
October 14 2021

Stubbornly higher inflation doesn't mean the Fed's wrong ... yet.

October 21 2021
Fixed Income .
Article Grinding it out
October 8 2021

Bond market plods ahead amid looming uncertainties.

October 20 2021
Liquidity .
Article Capitol expenditures
October 1 2021

The drama over the debt ceiling is a waste of time and energy.

October 13 2021
Monetary Policy .
Article Servicing the debt
September 27 2021

Investment managers, the finance industry and the Fed have contingencies for the debt ceiling drama.

September 22 2021
Monetary Policy .
Article A hawkish Fed tilt
September 22 2021

Taper may start in November, with first rate hike by late next year.

October 20 2021
Equity .
Article Correction odds rise but long-term outlook strong
September 20 2021

A near-term pullback could represent an opportunity for long-term investors.

September 20 2021
Markets/Economy .
Article Should he stay or should he go?
September 17 2021

Biden’s decision on Powell and others risks market volatility

September 22 2021
Liquidity .
Article No surprises this time
August 31 2021

Fed Chair Powell stuck to the script at the central bank symposium.

August 6 2021
Markets/Economy .
Article Great jobs headline, but ...
August 6 2021

Uncertainties linger when you dig into the weeds.

September 3 2021
Equity .
Article Heads I win, tails I win
August 4 2021

Uncertainties and vacations may feed volatility but bull trend carries on.

July 30 2021
Liquidity .
Article Looking like a trillion bucks
July 30 2021

Usage of the Fed’s Reverse Repo Program keeps growing.

July 29 2021
Monetary Policy .
Article Talking taper, but not much else
July 28 2021

While curtailing bond purchases were discussed, the FOMC today offered little additional insight.

July 16 2021
Equity .
Article Unprecedented unprecedented
July 16 2021

It's easy money all over despite rising inflation.

July 15 2021
Monetary Policy .
Article Powell calm despite inflation storm
July 15 2021

The Chair's trip to Capitol Hill showed just how patient the Fed intends to be.

August 4 2021
Equity .
Article Good news for secular bull: fundamentals on a stampede
July 14 2021

Policy errors and Fed could pose problems later but it’s full steam ahead for now.

August 4 2021
Inflation .
Article It better be transitory
July 13 2021

Bond market is priced, somewhat, for the Fed to get inflation right.

July 14 2021
Liquidity .
Article About time
July 1 2021

The Fed finally raised the overnight reverse repo rate.

June 23 2021
Inflation .
Article Secular bull outlook improves as the Fed begins to think again
June 22 2021

As the central bank awakens to inflation risks, our policy-error fear fades.

June 18 2021
Inflation .
Article Rocking my Jimmy Choo's and I spy the punch bowl
June 18 2021

America's back and the troubles are (arguably) fleeting ... in the nearer term.

June 16 2021
Interest Rates .
Article No small matter
June 16 2021

The Fed's slight adjustments to overnight rates should have a big impact.

June 11 2021
Inflation .
Article Inflation is always and everywhere ...
June 11 2021

But what creates and drives it is what matters for the markets.

July 9 2021
Inflation .
Article What's (not) up with long-term yields?
June 8 2021

They continue to confound as growth surges and prices accelerate.

June 22 2021
Equity .
Article Free lunches, policy errors and the secular bull
June 4 2021

For now, the bull is fine. But we're monitoring for potential longer-term health issues.

June 21 2021
Liquidity .
Article A temporary dilemma
June 1 2021

The Fed's view of 'transitory' might be too long.

May 28 2021
Inflation .
Article If inflation is such a problem ...
May 28 2021

Why are bond yields range-bound?

June 8 2021
Equity .
Article What have you done for me lately?
May 21 2021

Perhaps a market hung up on stimulus should appreciate what it has.