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June 7, 2020 March 4, 2020

Fed Flinch Makes High Yields More Attractive

The last time we saw an emergency rate cut of this size between scheduled Fed meetings was the 2008 Lehman Brothers crash, 12 years ago. We are not convinced that the global economy has gotten brittle enough to justify a full 0.50 percent cut, but we aren't running...
March 1, 2020 January 29, 2020 January 28, 2020

Earnings Previews: Apple, Equity Residential

More people have died in China, spooking investors around the world. Our stocks are down just less than 1.5% this week, holding up a little better than the market as a whole. Maybe big earnings in the next few days will turn the mood around.   However, because the...