The Fed views inflation through rose-colored glasses
On Wednesday's Breakfast with Benjamin menu: The Fed dons rose-colored glasses. Plus: Junk bond yields get scary low, commodity hedge funds fall out of favor, what you need to know about stock buyback ETFs, and the inequality mob is driving the rich to hoard cash
- As the cost of everything goes up the Fed dons its rose-colored glasses and looks the other way. Inflation? We don’t see no stinking inflation
- Junk bond yields continue to fall, shrinking the spread between Treasury yields to the lowest point since 2007. Risky is getting riskier. Not a good place to be for investors
- Commodity hedge funds are losing favor at the same time that commodity prices are rising. Systematic strategies take the biggest hit. Performance is down and the number of new launches hits an 8-year low
- Stock buyback ETFs are living large in the shadow of their better-known cousin, dividend-focused ETFs. Some pros and cons related to the strategy. Buyback ETFs saw assets quadruple to $3.3 billion in the first quarter
- The latest turn of events on the inequality bandwagon has forced those super-duper rich folks to start hoarding cash to prevent anybody from getting their feelings hurt. Inconspicuous consumption
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