Daily Archives: January 8, 2020

Re-steepening yield spreads and CEO sentiment

In our December 31 client letter, we discussed the re-steepening in the US 10-year and 3-month yield spread that has been underway since 2019, as the US Fed began cutting its policy rates once more. An inversion of the 10-year-3-month … Continue reading

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HBR: Why stock buybacks are dangerous for the economy

Two of the leading democratic candidate contenders have proposals to greatly curtail share buybacks as a form of illegal market manipulation.  Last October the International Monetary Fund’s Global Financial Stability Report, noted “debt-funded payouts” as a form of financial risk-taking … Continue reading

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