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Interest rates up, stock market down



On a day-to-day basis, when interest rates are up, that’s a good sign for markets. It means less demand for safe-haven assets because investors feel confident enough to take on riskier ones. But, when interest rates move up quickly, markets get scared. That’s exactly what happened last week.…

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Short and Sharp: US fiscal stimulus – when too much of a good thing becomes a bad thing



As issuer of the world’s dominant reserve currency, the United States can run up its debt without breaking a sweat…  to a point. An ill-timed tax reform package and fiscal stimulus will eventually trigger the type of negative bond market response that typically accompanies a fiscal expansion.…

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