I really hope one day I get to write about this and how historically toppy such nonsense from a formerly-esteemed office turned out to be………
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
May the 4th Be With You
His Majesty’s Presence
I love America. The first words of The Godfather, and three words also deep within my heart. In spite of my distaste for many of its inhabitants (present company excluded), the ideals of this nation are dear to me, and, as on every 4th of July, I read the entire Declaration of Independence with a lump in my throat.
I, too, would like to share with you this magnificent clip from John Adams, in which Paul Giamatti’s character meets King George to try to mend the obvious rift between the newborn U.S. and Britain. It is an extraordinary scene, and I’ve read that this is one of the very few instances where every single word was written down, and those words are precisely presented here:
Can Bonds Rally To New All-Time Highs?
Since the Fed increased rates in December, the bond market has been rallying. Many have told me that the Fed controls all markets. Many have told me that you cannot fight the Fed. Many have told me that the Fed controls the bond market.
My question is if anyone has told the bond market this?
The Fed has now increased rates 3 times since December of 2016. So, if the Fed truly controls the bond market, and if the Fed truly controls the direction of interest rates in general, doesn’t that mean that overall rates should be rising?
Well, the bond market does not think so. Since December of 2016, the bond market has been rallying, as can be seen in the attached chart below of TLT. Yet, the Fed has raised interest rates 3 times during this rally.
