Recent Commentaries

No FOMO Here

It’s been 3 weeks since I temporarily parted ways with my long time love. But with spoos still around 3000, and cash 10s still around 2%, I’m feeling no FOMO yet for risk parity. Financial markets continue to feel well-priced for dovish FED and ECB expectations, which...

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Rate Reduction -> Flow Reduction

As I watched Jay’s testimony from start to finish yesterday, I couldn’t help but think how incredibly smooth it went. There were no gaffes. There were no contorted explanations of the current policy stance. And there was absolutely no confusion about what was coming...

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