Perspectives Contributor:

Jess B. Yawitz, Ph.D.

Progress

As we have been saying, the seasonal adjustment process for initial jobless claims has been wholly inappropriate given the scale of job losses during...

A 10 Million Job Surprise

The May jobs report produced the biggest surprise we have ever seen from an economic data release. Nonfarm payroll employment increased by 2.5 million...

A Recession Unlike Any Other

The longest expansion in U.S. economic history ended in February. March ushered in a recession that will be unlike any other we have seen...

Coronavirus Fear Shocks Global Markets

Coronavirus has sent shockwaves throughout global financial markets. Since mid-February major global equity indices are down by 10-20%, investment grade US dollar credit spreads...

Go Long!

The Treasury Department is considering issuing an ultra-long bond with a maturity greater than 30 years. The idea was first raised in post-election interviews...

Make Funded Status Great Again (Again)

The ongoing equity rally and the rise in Treasury yields prompted us to revisit this analysis. Between yesterday’s close (December 1) and November 10,...

Make Funded Status Great Again

It has been an interesting week. Regardless of your political leanings, Tuesday’s election seems to have already produced another unlikely winner: defined benefit plan...

There’s Beta in My Alpha! (Part 2)

I received some feedback asking whether the high correlation of managers both to beta and to each other applies to “Aggregate” managers as well....

There’s Beta in My Alpha!

When I was a kid, being called different never felt like a good thing. Fortunately, with age I have come to realize that sometimes...