Monthly Archives: April 2025

Historically, when the S&P 500 has fallen 10% and the yield on the 10-year U.S. Treasury bond has declined 50+ basis points, the U.S. economy has been heading into recession about 70% of the time. We reached both milestones in … Continue reading →

It’s hard to imagine how damaging ice storms can be without witnessing them. After six decades of living in the north, this experience was a first for me. Big trees become weapons of mass destruction. There’s still no power or … Continue reading →