May 22 was not a kind day for income investors. It would appear that this was the day that income investors collectively realized that the Fed’s QE infinity really wouldn’t go on…well…for infinity. Fears that market yields would rise became a self-fulfilling prophecy. The 10-year Treasury yield, which had reached a new low just above 1.6%...Read More
If you are to believe U.S. politicians and talk radio hosts, China’s renminbi is managed by a sinister cabal of James Bond villains who intentionally suppress the value of the currency to give their manufacturers an advantage and to hollow-out U.S. manufacturing. While that view of China’s ruling Communist Party isn’t completely fantastical, the truth...Read More
“Sell in May” would have been terrible advice for stock investors in 2013. The S&P 500 tacked on about 4% in the month, even if the last week and a half was a little rough. But for investors in REIT and MLP shares—which up until this month were two of the best-performing asset classes—have suffered something...Read More
Great Recession? What Great Recession? After flatlining for five years, restaurant and bar sales hit new all-time highs earlier this month (see chart). It would seem that the scrimping and ramen noodle eating that became so common after the 2008 meltdown is now a distant memory. Well, sort of. There are a couple things to keep...Read More
