US Keeps Quarterly Debt Sales Steady Ahead of Debt-Limit Endgame
The US Treasury held steady its quarterly sales of longer-term debt, matching widespread expectations among bond dealers, given the standoff in Washington over expanding the government’s borrowing authority.
The More Powell Spoke, the More Stock and Bond Markets Rallied
Behind closed doors, Federal Reserve policy makers worry rallying markets are impeding their efforts to control inflation. But every time Jerome Powell goes out in public he gives them more room to run.
Moving Averages: S&P Closes Month Up 6.18%, Best January Finish Since 2019
Valid until the market close on February 28, 2023.
The S&P 500 closed January with a monthly gain of 6.18%, it's highest since 2019, after a loss of 5.9% in December. At this point, after close on the last day of the month, one of five S&P 500 strategies are signaling "cash" — Invesco DB Commodity Index Tracking (DBC) — down from from last month's quadruple "cash" signal.
US Budget Season Implications for the Muni Market
A slowdown in US economic activity this year is likely to impact most states, which could face budget deficits, according to Jennifer Johnston, Franklin Templeton Fixed Income’s Director of Municipal Bonds.
The Fiction of Safe Withdrawal Rates
RIAs will be more financially successful, will retain and attract more investment assets, and will produce superior financial results for their retiree clients when they embrace new thinking that begins with the acknowledgment that, in practice, the safe withdrawal rate is a fiction.