Inflation is rising because government spending is rising, exacerbating an already severely imbalanced labor market. The demand for labor enforces salary bargaining power, so wages are rising; this is the source of structural inflation, which is becoming systemically embedded into the economy.
Inflation is rising because government spending is rising… Read More »
75% of the Perry Capital Portfolio remains AAA-rated, very short maturity, and very liquid securities.
I remain underweight in the equity market because the valuation metrics of risk assets are not discounting for
persistent inflation, higher funding rates, and a slowing economy to the degree necessary to be attractive.
“Never in the field of human conflict was so much owed by so many…” Read More »
75% of the Perry Capital Portfolio remains in AAA-rated, very short maturity, and very liquid securities.
I remain extremely underweight the equity market.
“You cannot escape the responsibility of tomorrow by evading it today.” Read More »