Perspectives Contributor:

Stephen J. Douglass

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...

Treasury Yields: How Low Can They Go?

This has been a frequent question from clients in the past week as the spike in cross-asset volatility sent Treasury yields plunging to record...

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...

SOFR, So Good

The LIBOR transition continues. A global effort has been underway since 2013 to reduce dependency on LIBOR, the benchmark interest rate discredited by a...

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...