A stress test is exactly that: a test. It is a mix of assumptions about adverse events and their theoretical outcomes. Ironically, the Fed released its 2023 bank stress test scenarios just weeks before the latest banking crisis erupted.
Read moreThe last major recession began in 2007. Since then, central banks have done everything in their power to avoid such an event. But then, inflation.
Read moreUp until February, you would have done well to be overweight banks. “Banks do well in a rising interest rate environment” was the simple thesis. And that’s true if the banks have competent risk management.
Read moreMy guest this week, Barry Habib of MBS Highway, breaks down in detail where SVB got it wrong and how mortgage-backed securities worked against the bank.
Read more“Dr. Ed” has been in the markets for over 40 years. He was an economist at the Federal Reserve Bank of New York before becoming chief economist at EF Hutton and then a chief investment strategist at Prudential Equity Group and Deutsche Bank’s US equity division.
Read moreIn this week’s Global Macro Update discussion, Sam Rines notes that the government no longer sets the minimum wage. Walmart does. When Walmart moved its nationwide minimum hiring rate to $14/hour, nearly all other employers had to follow suit.
Read moreWhat does a new normal look like? That’s the topic I covered with Bruce Mehlman in this week’s Global Macro Update interview (link at the bottom of this letter).
Read moreThis week, we checked in on the fixed-income market with an asset manager who controls $40 billion in capital.
Read moreThis week, I talked to Peter Boockvar, CIO of Bleakley Financial Group, an $8 billion wealth management firm, and editor of The Boock Report.
Read moreThis week, I talked to Andy Greenberg, senior writer at WIRED magazine and author of the books Sandworm and Tracers in the Dark. I read both and had a hard time putting them down.
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Dig deep with Ed D’Agostino as he interviews leading experts on the most urgent stories you need to know about. Learn how your portfolio could be impacted and what's ahead for the markets... Delivered weekly on Fridays.
