Musings on Markets

JANUARY 27, 2021

Federal Reserve Database (FRED) Note that the ups and downs of oil and copper not only follow the same time pattern, but closely resemble what stocks were doing over the same periods, but the changes are more exaggerated (up and down) with oil than with copper. against developed market currencies.

Start-ups 52

Start-ups Marketability Equity Treasury 52

Musings on Markets

JANUARY 9, 2021

I spent the first week of 2021 in the same way that I have spent the first week of every year since 1995, collecting data on publicly traded companies and analyzing how they navigated the cross currents of the prior year, both in operating and market value terms. So, why bother?

Risk Premium 52

Risk Premium Market Capitalization Equity Start-ups 52

Musings on Markets

JANUARY 20, 2021

Source: BofA ML Spreads on Federal Reserve (FRED) The default spreads at the end of 2020 are at the low end of the historical spectrum, and the contrast with the 2008 crisis is stark, since default spread surged in the last quarter of 2008 and did not come back down to pre-crisis levels until almost two years later.

Risk Premium 52

Risk Premium Risk-free Rate Equity Dividends 52