Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.
In this special holiday edition, Michael explains how an evening at home went awry: how a discussion about China and Hong Kong morphed into a chart war about Trump, Hoover, Taft, Rachel Maddow and Anderson Cooper.
The Armageddonists and the price of fame.
Global trade tensions may continue into 2020, weighing on global growth and acting as a headwind for further equity market gains.
With little room for the unemployment rate to fall lower, many economists are growing increasingly concerned with the availability of labor supply and, the prospects for near-term economic growth.
EM should continue to provide a substantial economic growth alpha relative to developed markets due to better demographics and a productivity catch-up.
Armageddonists and the portfolio cost of fear, 2010-2019
This greater economic stability should bolster international earnings expectations, halting the decline seen over the past 18 months.