News

  1. Are we about to have another debt ceiling debacle?

    August 28, 2017 It's certainly possible, but could be less likely than the prior mess in the summer of 2011. The ceiling has been raised many times over the years and has been considered merely a legislative formality.

  2. Is LIBOR going away? By the way, what is it, anyway?

    August 21, 2017 LIBOR (London Interbank Offered Rate) represents several averages of interest rates that large banks in London charge each other for short-term loans. Although it's referred to in the singular, it's a series of rates for different terms ranging from 1 day to 1 year.

  3. How is Social Security Doing?

    July 18, 2017 Trustees for the Social Security Trust Funds for the Old-Age & Survivors and Disability Insurance (OASDI) release their annual report on the health and long-range outlook of Social Security. Ignore the scare rhetoric about Social Security going bankrupt. Beneficiaries will still get full benefits through 2034, then about 23% less after that from payroll taxes.

  4. Why is market volatility still so low?

    June 26, 2017 Volatility usually drops during the summer months, as trading desk activity slows down along with vacations picking up, etc. This year, however, the low vol started earlier, and there does tend to be a connection between bullishness and lack of volatility.

  5. What does the Fed mean when it talks about reducing its balance sheet?

    April 10, 2017 The Federal Reserve maintains a balance sheet of assets and liabilities to serve as a vehicle for holding U.S. treasury bonds that are bought and sold during the Fed's routine open market operations.

  6. Corrections Are Just a Part of This Bull Market

    March 20, 2017 As the current bull market enters its ninth year, it's time to recall that bull markets never go in a straight upward trajectory. Pullbacks of 5% or more and corrections of 10% or more are quite normal. But just how normal are they?

  7. Happy 8th Birthday, Mr. Bull

    March 8, 2017 March 9 marks the 8th anniversary of our current bull market, three years longer than typical. This has been our second longest bull and our third highest performing. So what's next?