Weekly Update, Dec 3, 2017

Jeff Miller’s weekly summary

  • Oddly, he published one of the simpliest characterisations of the recent tax law work
    • The 10yr note rates while up 0.02% the range during the week was far greater and provided some opportunities to take small positions – e.g., VGIT
    • He quoted another writer with the following:
      • “The Dallas Fed reported its inflation measure, the 12mo Trimmed Mean PCE, at 1.60%. Inflation has fallen steadily from 1.94% reported in Jan 2017. Falling inflation is the result of a slower pace of discretionary government spending as noted in my earlier commentary on the differences in Real GDP vs. Real Private GDP. The lower the inflation the more valuable earnings become.”

Other commentary

Leave a Reply

Your email address will not be published. Required fields are marked *