The two-year has broken through to the other side

Have we finally begun seeing the normalization of interest rates in U.S. Treasuries? Although we’ve seen sudden rises in interest rates before, we haven’t seen a precipitous rise like we’ve seen in the last month. Although we often focus on the ten-year Treasury as the barometer of interest rates, the two-year Treasury is our focus at this point.…

Coaster brakes

Back in September, the U.S. Federal Reserve announced that their massive bond-buying program known as Quantitative Easing (QE) would begin to be reversed on October 1st, 2017. Given this momentous occasion (at least for bond nerds like us), we thought it would be useful to summarize, in laymen’s terms, the…

The “MAGA” saga

The defining slogan of Donald Trump’s 2016 Presidential campaign was “Make America Great Again” (MAGA).  Presumably he won the election because millions of discouraged voters, particularly those in the Rust Belt, bought into the idea that Mr. Trump could deliver on his MAGA promise. But can he? Does he have…

Manufacturing: Growth in the age of automation

The Pittsburgh Post-Gazette recently published an op-ed written by Fort Pitt Chief Investment Officer, Charlie Smith. It examines the economic growth outlook for the U.S. in light of the automation wave. In today’s world, manufacturing competition is strong, so how does the U.S. keep up? Restrictive tariffs and trade barriers…

Charlie’s month-end reading list

It's time again to check out some of the articles we’re reading at Fort Pitt. Here are our favorites from various publications: The first piece, "ObamaCare 2.0" by Wall Street Journal reporter Holman Jenkins, examines the failure of the Affordable Care Act, as well as the (recently rejected) Republican alternative.…

Charlie’s month-end reading list

It’s time to share some new and interesting articles circulating at Fort Pitt. Check out some of our favorites: The first piece, "How we'll know if Trump is making America great again" by Bloomberg reporter Scott Lanman highlights key indicators for evaluating Donald Trump’s economic stewardship. The author puts low…

The 2% solution

The US economy can’t get out of its own way. Seven years of sub 3 percent economic growth have discouraged millions of middle and working-class families and deferred the dreams of the millennial generation. This (seemingly endless) saga of lingering debt, stagnant wages and jarring income  inequality has flummoxed economic…