Macroeconomics

Macro Wrap-Up: Some Unscientific Thoughts about Retail Sales and Markets

There was a relatively big reaction to seemingly unremarkable data this week. What’s that telling us?

Macroeconomics

Macro Wrap-Up: Stop Thinking It's Macro – It's Value

Perhaps someday we’ll have a clearer macro explanation for why value has underperformed, but it shouldn’t be worrying if we don’t.

Macroeconomics

Macro Wrap-Up: The Yield Curve Is a Very Interesting Topic

The current yield curve is saying that monetary policy is tightening, but isn’t too tight yet. It’s flashing an orange warning but isn’t red.