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 "The forecasting power of the marketplace is rooted in the 'wisdom of crowds.' It's been recognized since early antiquity that inflation results from a fall in the value of a currency relative to precious metal." Synopsis – 6/21 |
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~ R. David Ranson, President and Director of Research HCWE & Co. |
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 Interest-Rate Outlook |
| How steep can the yield curve get? |
| The classic cause of inflation, to which economists within and outside the Fed are not paying attention, is currency depreciation. Bond yields may rise by another half point over the next couple of years. |
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Tactical Asset Selector |
| Beware: Advancing commodity prices are now driven by inflation, not growth |
| A commodity-market boom is an ambiguous signal for the stock market. If economic growth is responsible, it's favorable for stocks. If inflation is responsible, not so much. The current advance in commodities falls within the second category. |
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Fixed-Income Barometer |
| "Market forecasts" for the coming twelve months as of July 1, 2021 |
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International Barometer |
| "Market forecasts" for the coming twelve months as of July 1, 2021 |
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Synopsis |
| Briefing Points on the Global Market Outlook, June 2021 |
| The forecasting power of the marketplace is rooted in the 'wisdom of crowds.' It's been recognized since early antiquity that inflation results from a fall in the value of a currency relative to precious metal. |
