Yellen’s Inheritance: Monetary Policy in Flux

Joseph G. Carson (pictured) and Darren Williams Evolving economic challenges are transforming central banking around the world. The new monetary-policy doctrine is likely to put greater emphasis on asset-price developments. But, without a true monetary anchor, central banks could still risk a repeat of the recent boom/bust cycle.

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Municipals: A Glimpse of What’s to Come?

Federal Reserve Chairman Bernanke reiterated today that a healthier economy would prompt the Fed to end its unprecedented bond-buying program, which has kept yields artificially low. Speculation on this question over the last several weeks has caused a sharp bond sell-off and rising yields. But we don’t see this as the start of a rout [...]

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Today’s Good News Isn’t Bad for US Stocks

Believe it or not, recent US housing market gains, the slight reduction in jobless rates and other signs of a revival in US economic growth are making some investors bearish about US stocks.  We think their fears are misplaced.

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