Mirador expects valuations to continue declining mainly driven by an aggressive central bank tightening cycle which includes a terminal Fed Funds rate of 3.5% and trillions of dollars taken out of the economy.
Read More
The Federal Reserve AKA “The Fed”, which is America’s Central Bank, is in the beginning innings of a rate hike cycle intended to curb spending, which would reduce inflationary pressure.
Read More
SMBs still have access to loans and continue to maintain earnings but are having difficulty filling new roles.
Read More
Most leading economic indicators showing yields may be overdone. No material change in 2023 rate cut expectations.
Read More
The Fed has already started to tighten financial conditions by increasing interest rates, and has shifted its sentiment on monetary policy from “tactical” to “expeditious”.
Read More
Equity Risk Premiums continue to be very unattractive relative to historical correlating returns.
Read More
SMB employment hits pre-pandemic levels in both goods and services jobs.
Read More
Bond and equity volatility telling completely different stories. Historically, equity markets “catch up” with bond market signals.
Read More
10Y Treasury vs. 2Y Treasury near inversion (key sign of recession)
Read More
VVIX and long-term yields showing optimism.
Read More
Russia invades Ukraine which puts the Fed in a tight spot for policymaking as PCE rises again in January.
Read More