Asset Allocation Reports
Asset Allocation Bi-Weekly – The Path of Monetary Policy (January 10, 2022)
by the Asset Allocation Committee | PDF Our expectation of no policy rate hikes this year is an out-of-consensus call in our 2022 Outlook: The Year of Fat Tails. There are a couple of factors that suggest rate hikes this year. First, financial markets have factored in rate hikes. Fed funds futures suggest a greater… Read More »
Asset Allocation Weekly – #65 “What’s Causing the Yield Curve to Flatten?” (Posted 12/17/21)
Listen »Asset Allocation Weekly – What’s Causing the Yield Curve to Flatten? (December 17, 2021)
by the Asset Allocation Committee | PDF A note to readers: The Asset Allocation Weekly will go on holiday hiatus following today’s report and return as a bi-weekly publication, now on Mondays, beginning January 10, 2022. From all of us at Confluence Investment Management, we wish you a Merry Christmas and Happy New Year! See… Read More »
Asset Allocation Weekly – The Omicron Problem (December 10, 2021)
by the Asset Allocation Committee | PDF Over the Thanksgiving holiday, news broke that a new variant of COVID-19 had been isolated in South Africa. This new variant has an usually high number of mutations, which increases the likelihood that current immunity will be compromised. In other words, prior infection or inoculation will probably be… Read More »
Asset Allocation Weekly – An Update on Gold (December 3, 2021)
by the Asset Allocation Committee | PDF Gold moved steadily higher from the late summer of 2018 into August 2020. Prices then declined toward 1,700 and have since traced out a trading range between 1,700 and 1,900. In this report, we will update our views on the metal. (Source: Barchart.com) We have been holding gold… Read More »
Asset Allocation Weekly – The Composition of the FOMC (November 19, 2021)
by the Asset Allocation Committee | PDF (NB: Due to the Thanksgiving holiday, the next report will be published on December 3.) The FOMC now has at least three vacant governor positions and two regional bank president positions. There is one vacancy that remains from the Trump administration. Richard Clarida’s vice-chair position expires in January. … Read More »