On the eve of what is likely to be the end of this cycle of Fed tightening (even if the Fed hikes rates 25 bps tomorrow, they will almost su...

Last week's June CPI news surprised the market, but it didn't surprise me. The demise of inflation is playing out almost exactly as ...

Since my last post (6/28), 10-yr Treasury yields have jumped 36 bps, while 1-yr yields rose by only 8 bps. This was driven by some stronger-...