Author Archives: Administrator
Steven J Cohen CFA Newsletter Q3 2022
Economy & Capital Markets: The US Federal Reserve Bank identifies 0.5% as the long run REAL interest rate. This implies that production (or tax revenue) expansion needed to payback a loan and interest is also expected to be 0.5%. Given the exponential technological advances and still positive demographic growth, there must be many areas where …
Kings Portfolio Tear Sheet 2022 Q2
Steven J Cohen CFA Newsletter Q2 2022
Economy & Capital Markets: On June 15h the effect Federal Funds Rate was raised to an average of 1 5/8ths %, with its projection for the year-end raised to 3.4%. US 10 year bond yields are now hovering around 3% after the bond price had fallen 17% from its highs, whilst the S&P 500 has …
Kings Portfolio Tear Sheet 2022 Q1
Steven J Cohen CFA Newsletter Q1 2022
Economy & Capital Markets: On March 16th the Fed raised: the effect Federal Funds Rate to an average of 3/8th %, with a projection for the year-end of 1.9% and, 2.8% by end 2023. The long end of the bond market sold off in response. On 24th February, Russia launched an large-scale invasion of Ukraine, …
Steven J Cohen CFA Newsletter Q4 2021
Economy & Capital Markets: On December 15th the Fed indicated that: Treasury and mortgage bond purchases are to end in mid-March 2022, and its benchmark interest rate will rise to 0.9% by the end of 2022 and then onto 1.6% by the end of 2023. Both the stock market and treasury yields maintained their range. …
Kings Portfolio Tear Sheet 2021 Q4
Kings’ Portfolio Tear Sheet 2021 Q3
Newsletter Q3 2021
Economy & Capital Markets: In September the US Fed, revised expectations of 2021 growth down to 5.9% and inflation up to 4.2% whilst, indicating the Federal Funds rate will rise to 0.3% in 2022 and then to 1% in 2023. The Peoples Bank of China views: contact-based consumption constrained, problems for small businesses and manufacturing …