The Price of the Future
Last Thursday, the yield on the 30-year US Treasury bond broke above 5.5 percent for the first time since June 2004, and touched 5.53 percent on Friday. It was below 5 percent as recently as early July. The 10-year…
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Understanding Ray Dalio’s Debt Cycle Theory
Ray Dalio stands as one of the most successful hedge fund managers in history, but perhaps more importantly for our purposes, he has spent decades developing a framework for understanding how economies actually work…
The Lose-Lose Hike
Last Wednesday, the Federal Reserve raised interest rates for the first time since July 2023 — a quarter point, to a range of 3.75 to 4 percent. The vote was unanimous, and that includes the man who led it. Kevin…
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