Monthly Archives: January 2024

In June 1999, the US Fed began an 11-month rate hiking cycle that took the overnight rate from 4.75 to 6.5% by May 2000. Amid tech-mania-inspired irrational exuberance, the S&P 500 hit 1527 by March 2000, sold off into the … Continue reading →

Rebounding Treasury bond prices have lowered mortgage rates from their cycle high in October, but home prices at current mortgage rates are still painfully unaffordable for most. The Bank of Canada estimates that 45% of Canadian homeowners saw their mortgage … Continue reading →

Assets bid up by irrational amounts eventually end up on clearance sale. Always. This is something to remember with the seven most expensive tech companies ending 2023 at their October 2021 price peaks (chart shown below, courtesy of All Star … Continue reading →