RockCreek News

(In) Digestion?

Nearly two weeks after the Fed acknowledged that inflation was higher and growth stronger than they had expected, markets continue to digest the news. So far, so good. After an initial sharp reaction, both equity and bond markets seem almost

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Worlds Apart

In the US, Covid-19 concerns seem to be disappearing in the rear view mirror – the talk is of reopening, rehiring, recovery. Contrast that with Asia, where vaccination rates are low, Covid-19 fears have driven renewed lockdowns in countries from Japan to

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Throw Out the Models?

It is common practice to look at the past to help forecast the future. Economists do it. Market analysts do it. But right now, the first answer that many are giving to questions about prospects for the economy is: I

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The Expectations Game

Markets look ahead. So do economic forecasters. What the last two weeks have shown is how easily expectations can turn and how this affects reality, or at least the reality of pricing in financial markets. As April inflation data for

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