Quantamental Perspective

CNBC reports that mortgage refi’s hit an 18-year low this month. I think it is safe to say that the end of the 35-year refinancing bubble is officially over, save for even more extreme Central Bank action during the next downturn. The ultimate implications of this event… Read More

Despite a respite in global equity prices month to date, last week saw some major breakdowns in the uber-important credit markets which likely confirms more downside to come in the current correction. Globally, it was a bloodbath in high yield with risk premiums achieving year… Read More

Understanding asymmetric points to buy and sell risk isn’t difficult if you have a common-sense market cycle framework. There are really only a few factors that need to go into one’s decision matrix as to how to position a portfolio between the risk-free –> risky asset… Read More

Gosh. On some days it feels exactly like 2008. It’s not, of course, but everything about the current environment feels oh, so late cycle. Until this week, crude oil was the commodity sector’s saving grace. Indeed, as the largest component of the S&P GSCI Index,… Read More

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