Asset Allocation Reports
Asset Allocation Weekly (August 6, 2021)
by the Asset Allocation Committee | PDF In last week’s report, we updated our views on long-duration Treasuries, using our standard 10-year T-note model. This week we are going to examine the impact of policy on long-duration Treasuries. First, let’s start with the model. The two most important variables in the model are fed funds… Read More »
Asset Allocation Weekly (July 30, 2021)
by the Asset Allocation Committee | PDF One of the key developments in financial markets recently has been the quick rebound in bond prices and the associated drop in yields. As investors started to sense faster economic growth and the prospect of rising inflation in the first quarter, they eagerly sold down their bond holdings,… Read More »
Asset Allocation Weekly (July 23, 2021)
by the Asset Allocation Committee | PDF The availability of ample investment capital is vital for economic growth in both rich, well-developed countries and poorer developing nations. However, if the available capital is poorly utilized and/or debt levels get too high, the results can be quite negative. In such a situation, economic growth can slow… Read More »
Asset Allocation Quarterly (Third Quarter 2021)
by the Asset Allocation Committee | PDF There is no recession within our forecast period. Monetary and fiscal stimulus should continue in the U.S. over our three-year forecast period, yet at a decreasing rate as the economy recovers. After a surge in inflation this year and into next year, resulting from the economic recovery following… Read More »
Asset Allocation Weekly (July 16, 2021)
by the Asset Allocation Committee | PDF The pandemic-related expanded benefits for the unemployed are expected to end in September. States that have ended the booster early have seen a sharper decline in initial claims than states that haven’t ended them. Although the end of enhanced employment benefits could help resolve the labor shortage, there… Read More »