For many, any discussion about crude oil seems irrelevant, “so 1970s”: gas station lines, oil cartels, J.R. Ewing. Today we live in an era of wind and solar, electric-powered cars, George Jetson, right? Not exactly. By the way, and no offense to the “Millennials” and younger, how do we produce the vast majority of electricity…
Our inspiration for this piece is a Wall Street Journal article, entitled “Stocks for Income, Bonds for Speculation,” published last Thursday. It seems upside down, backwards, or perhaps wrong, but this is the state of most world stock and bond markets as we write this. Bond yields have been on the decline worldwide. Last week…
During May the S&P 500 declined 6.35% on a total return basis, or after adding back in all dividends, and the 10-year U.S. Treasury note yield fell from approximately 2.5% to less than 2.1%, after yielding over 3.25% during November. This collapse in bond yields has occurred due to the beliefs that corporate profits have…