With the exception of writing about interest rates. I do make a concerted effort to have content on my blog be fresh and try to avoid repetition. With that being said, however, there is only so much one can write about that is novel and insightful.
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Renter Nation
Here is my latest video discussing the transition of the United States from a society and economy that was completely homeownership centric to one that has become much more of a Renter Nation. We at CWS believe this is a trend that has some very powerful economic,
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Last week we had our annual investor meeting. It was the first time we met in person since 2019. It was so nice to be together again. Despite not communicating the rosiest of messages, it was an evening that had great positive energy.
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As this chart shows, the yield continues to invert with 3-month Treasury Bill yields substantially higher than 10-year Treasury Note yields.
As I wrote about previously, Fed Chairman Jay Powell discounted traditional yield curve indicators such as the differential between 10s and 3-month T Bills and 10s and 2-year Treasury yields.
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In the short run, the Fed chose to keep up the inflation fight despite deteriorating financial stability emanating from a wounded banking sector. There is now a lot of market data corroborating that the Fed will have no choice but to start cutting rates soon.
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I’m going to breeze through a number of tweets and charts as I’m headed to watch the semi-finals and finals of the tennis matches at Indian Wells. The weather is going to be outstanding, and the matches have a similar promise.
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Like many others, I have been looking for where cracks in the financial system might appear catalyzed by the aggressive Federal Reserve rate hiking policy and balance sheet contraction. And while the housing market has been an obvious sacrificial lamb via much higher mortgage rates,
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Gary Carmell
Posted in Economy, News, Personal, Travel, Trends, Uncategorized, Wealth
3 Comments ↓
This is one of those weeks where I don’t have anything pressing I feel I need to convey or work through to gain clarity so I thought I would share some random thoughts related to the coronavirus, surveying data, economic reports, and health tip.
Coronavirus vs.…
With the renewed runup in interest rates, I thought it would be appropriate to revisit the homeownership market via a frenzy of charts. Of course, all real estate is local, but these overall trends are pretty powerful, so it would be unusual for most markets to be immune to them.
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I couldn’t stay away from interest rates for too long. Last week was very fascinating. There was a lot of news that should have been quite bearish for long-term bonds but instead, yields moved down by about 5 basis points for the week for the 10-year Treasury note.
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