US Priced For Deflation! Riding The Tiger? There was a day in October when central banks needed an urgent discussion. The S&P 500 had just fallen almost 10% in just

The Cycle Dynamics portfolio bridges a gap in investment management between the All Weather approach and trend following systems.  A quick review of the All Weather and trend following methodologies

As the investment outlook becomes increasingly uncertain, it is worth testing the limits of portfolio construction to see how much of this risk could be automatically handled at the allocation stage. Can a

It turns out that QE did not really end last month. Only officially. It is more than likely that the big banks are now operating a “shadow QE”. So much for

The ramifications of last week’s Halloween raid by the Bank of Japan have only just begun. Japan is leading the grand monetary experiment and this was a new acceleration in central bank

Over the last month Junk bonds have begun to underperform Treasuries: https://finance.yahoo.com/q/bc?s=HYG&t=1m&l=on&z=l&q=l&c=ief Many corporations have been abusing their balance sheets in recent years, and will soon have to rollover a mountain of

This chart shows clearly how the Federal Reserve has driven US equity markets to an altered state: https://www.zerohedge.com/news/2014-06-06/whats-wrong-picture No question the relationship between equities and bonds has materially changed over

This chart below shows that the Fed’s policies since 2007 have been a complete failure as regards the broad economy. There never has been a real recovery and the Fed