pension funds

Math Is Money: Tracking Through Swap Spread Possibilities

By Jeffrey P. Snider|2015-11-11T18:27:39-05:00November 11th, 2015|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

As banks have trickled out their third quarter balance sheet filings, we gain more insight into the events of that quarter as well as some additional color as to the ongoing drama of the current one. Perhaps the most startling shift in an otherwise quite busy and at times despondent period was the universal compression of swap spreads into negative [...]

Who Owns The Market?

By Jeffrey P. Snider|2013-10-03T10:39:39-04:00October 3rd, 2013|Markets|

Before 1950, if you asked who owned stocks, the answer was very straightforward: wealthy individuals. Ninety percent of all equities were owned by the household sector, concentrated in the wealthiest segments. Most individuals had little savings to speak of, so stocks really were a plaything of the rich. All data below is taken from the Federal Reserve’s Financial Accounts of [...]

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