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July 19, 2020 May 10, 2020 April 12, 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 3, 2020