"The true test of civilization is not the census, not the size of the cities, nor the crops - no, but the kind of man the country turns out."
- Emerson
"We think they are days from failure. They think it is a temporary problem. This disconnect is dangerous."
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U.S. yields start the day lower, with the 2Y down 4bps back at 5% and the 10Y down 6bps at 4.26%, both back to where they were pre-SVB (reme...
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We spend endless time debating the Fed’s neutral rate. Much less time asking whether the government can afford it. Enter Fiscal r-star : t...
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Yesterday the FOMC: Held their policy rate at 5.25-5.50% Raised their growth and inflation projections while keeping their median 2024 proj...
Edward Quince's Wisdom Bites: Low Ego
Nas closes his masterclass with a lesson on temperament: “The liquidity is high, but the ego is low / Light years ahead of where the paper u...
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