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July 1, 2022 We said it, the Treasury Secretary said it, and even the Fed Chair has said it, the Fed is behind inflation and needs to do historic interest rate increases to catch up to inflation. But given the potential of another 75-bps increase, the downturn in some commodities and

June 17, 2022 Friday the Bureau of Labor Statistics reported the May inflation numbers and they didn’t show any improvement. We have been in this above 4% inflation environment for over a year, and this latest print of 8.6% is the highest since December 1981. So it’s a good question

June 10, 2022 Earnings season and investor days always make for great sound bites. No one is better at this than Jamie Dimon at JP Morgan. His wonderful headline: “You know I said there’s storm clouds, but I’m going to change it… it’s a hurricane” Jammie Dimon, JP Morgan Analyst Day But

May 27, 2022 What a difference a week makes. Markets shrugged off the higher rate fears, shook off the recession worries and got down to buying. From last Thursday, May 19th through yesterday May 26th, many Bloomberg fixed income indices rallied strongly. Led by the High Yield Index up 2.80%,

May 20, 2022 It’s been a record year in fixed income. Just not the kind of record we want to be setting. But with all the increases in rates, worries about recession and the volatility brought about by both, we believe there is good value in some areas of fixed income. This

April 29, 2022 As we mentioned last week, over the next year, we think there are three scenarios for the economy and the fixed income market. All three scenarios hinge on the trajectory of inflation. Inflation is either going to peak and cool off, or it’s not peaking or cooling off. If it’s

April 22, 2022 It’s been a dreary time in bond land. It seems every day the market just grinds continually lower, wearing on minds, emotions, and portfolios. This was supposed to be the capital preservation part of the portfolio, right? And didn’t the Fed just start raising rates? If we believe the futures market,

April 1, 2022 There are many advantages to investing in bonds, but one of my favorites is the ability to forecast the future. I’m not talking about if economy is going into a recession or if the Bengals are going to win the Superbowl, I’m saying given a set of

Written by Peter Baden, CFA, Chief Investment Officer https://soundcloud.com/fmacceleration/genoa-asset-management-fixed-income-sector-review?utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing In case the market didn’t hear him at his press conference last Wednesday, Jerome Powell, the Acting Federal Reserve Chairman, gave a very clear speech on Monday at the 38th annual NABE Economic Policy Conference. One early quote: My colleagues and I are

Written by Peter Baden, CFA, Chief Investment Officer https://soundcloud.com/fmacceleration/genoa-asset-management-are-we-inverted-yet?utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing The much anticipated day came and the Fed, once again, did not disappoint. Wednesday, March 16th is the start of the next interest rate cycle. By raising the Overnight Fed Funds rate by 25 basis points, to a range of 0.25-0.5% the Fed is