One aspect of the equity market advance over the last few years is the advance has been driven by a small number of stocks. One group of stocks is referred to…
What is Driving Longer Term Interest Rates Higher?
Just as the Fed began reducing the Fed Funds rate in September last year, longer term interest rates as measured by the 10-Year U.S. Treasury began moving…
Winter 2024 Investor Letter: Some Uncertainty in the Rearview Mirror
With the fourth quarter behind investors, some of the uncertainty that served as a potential headwind for the market is now in the rearview mirror. One of the…
