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PMI

If you don’t mind a little instability, U.S. equity investors really can’t complain about the first half of 2019. Sure, it was a little volatile and who likes that? But with a roughly 17% return, the year is on track to be one of the...

Equity Valuation Support Strong; US Looks Inexpensive

Let's Get Cyclical; Cyclicals Respond to Long Term Yield Curve Steepening

Those scary words “yield curve inversion” are being bandied about in the headlines by the press these days. Bad news sell papers, of course, but prudent investors should look beyond the headlines. The latter often don’t do justice to the phenomena supposedly being explained. What part of the Treasury yield...

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