The 10-year Treasury yield hit 3% level: Our take on what that means

For those that follow interest rates and the underpinnings of the economy for a living, a 3 percent 10-year Treasury rate is something that should be noted. While the media may be positioning this as front page news on nearly every financial news website you check today, I don’t believe it is the watershed moment they’d like you to believe. However, it is a technical[...] Continue reading
25 April, 2018

The stock market sees its shadow

Commentators often call a decline in stock prices after a sustained rise a “correction,” as if the previous rise was somehow an error. Normally, we refrain from such nomenclature, because no one knows what drives share prices in the short run. But in the case of recent declines in U.S. stock prices, we think it applies. First, the numbers: The S&P 500 has dropped[...] Continue reading
7 March, 2018

The stock market sees its shadow

Commentators often call a decline in stock prices after a sustained rise a “correction," as if the previous rise was somehow in error. Normally, we refrain from such nomenclature, because no one knows what drives share prices in the short run. But in the case of recent declines in U.S. stock prices, we think it applies. First, the numbers: The S&P 500 has dropped[...] Continue reading
9 February, 2018

Some debt is not like the other

With all the talk lately concerning the U.S. debt and how it will grow due to the new tax plan, we thought it would be a good idea to address what it means. First and foremost, we must differentiate between individual/corporate debt and the debt of a sovereign nation such as the U.S. Individual and corporate debt must be managed in a fiscally prudent manner or face[...] Continue reading
9 February, 2018

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. The[...] Continue reading
12 January, 2018

Join Our Newsletter

Receive updates from our blog, retirement plan industry events & news, media appearances, and the latest on Fort Pitt events.