The Fed- Too Fast, Too Furious
By Kelvin Lee, Alonso Munoz The Federal Reserve raised rates by another historic 75bps last week. That’s the third time this year and pushes the federal funds rate to a 3-3.5% target. As anticipated, equities have reacted negatively, and bond yields have spiked. The market is now pricing our earlier call of a 4.5-5 percent […]
Excess Cash in the Financial System
Good morning and happy Tuesday! We hope everyone had a fun/relaxing/safe Independence Day weekend. The past year has been unique for the U.S. financial system. As investors, we are inundated with capital market news including daily developments on equities, fixed income, and more recently, “meme” stocks and crypto assets. But we never hear much about […]
