Asset Allocation Reports
Asset Allocation Bi-Weekly – The Hidden Battle in the “One Big, Beautiful Bill” (June 30, 2025)
by Thomas Wash | PDF Tucked within the (ironically named) One Big, Beautiful Bill Act lies a provision that could dramatically reshape international capital flows. Section 899, colloquially termed the “revenge tax,” would empower the federal government to impose escalating taxes on the US passive income of individuals and corporations in countries with tax policies… Read More »
Asset Allocation Bi-Weekly – The Economy That Won’t Die (June 16, 2025)
by Thomas Wash | PDF The old Wall Street quip about economists having “predicted nine of the last five recessions” has never felt more painfully relevant. Since the pandemic era began, economists have sounded the recession alarm no fewer than three times: first when gross domestic product (GDP) shrank in early 2022, again during the… Read More »
Asset Allocation Bi-Weekly – The Japan Problem (June 2, 2025)
by Thomas Wash | PDF Just one day after Prime Minister Shigeru Ishiba likened Japan’s debt situation to that of Greece, the country faced its weakest demand for 20-year bonds since 2012. The auction’s tail — the excess of its highest yield over its average yield — widened to 1.14, the largest since 1987. His… Read More »
Asset Allocation Bi-Weekly – White House vs. The Fed: The Looming Battle for US Monetary Policy (May 19, 2025)
by Thomas Wash | PDF The Federal Reserve’s independence faces its most serious challenge in decades as the Trump White House escalates its criticism of central bank policy. This brewing confrontation echoes historic tensions — most notably the 1951 clash between President Truman and Fed policymakers over yield caps that ultimately led to the Treasury-Fed… Read More »