June 2021 Recap & Outlook image
Clients & Friends, June was a relatively muted month so we'll keep this month's update short and sweet. Some trends have persisted such as housing prices which continue to climb while inventory levels are at historical lows. The hottest debate now is whether inflation will be persistent or transitory. Battle lines are being drawn and portfolios are being adjusted. But even the Google searches for transitory may prove transitory ?.? According to this survey by BofA, the transitory gang has more members. A key moment was when Jerome Powell made hawkish comments on the 16th on discussing scaling back mortgage bond purchases and rate hikes in 2023, which is sooner than expected. Long term bond yields spiked ...
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