Calafia Beach Pundit

Than a yr they have been trading at very low levels to get more.

Calafia beach pundit. So far my guess that last thursday marked the worst of the crash seems to be holding up. I don t believe conditions in the market change very often. It isn t priced to either a boom or a bust more of the same. This site is not intended to provide trading or timing advice.

Calafia beach pundit edit profile scott grannis was chief economist from 1989 to 2007 at western asset management company a pasadena based manager of fixed income funds for institutional. Stocks made new lows today but fear is receding. I urge everyone to read through this and consider the facts and the statistics. The city beach is open but not the state park beach.

This is an overwhelming summary of all the facts figures and charts that are needed to put the covid 19 crisis into perspective. This is one of the first anti newsom salvos to be fired at the beach. I now enjoy keeping up on markets from my condo overlooking calafia beach san clemente. Swap spreads are a great coincident sign of financial market health insurance and a similarly great leading indication of the health of the economy.

Note also the words written in the sand to the left of the trucks. Calafia beach pundit edit profile scott grannis was chief economist from 1989 to 2007 at western asset management company a pasadena based manager of fixed income funds for institutional. Here s an instant upgrade of some key signals that i track regularly. All continues steadily to the point in an optimistic path.

My reading of the economic and financial tea leaves would be that the economy is growing at a sub par speed about 2 in the same way it offers for days gone by 8 years. I think the marketplace needs the same thing approximately. The vix has peaked but stocks have yet to bottom which calls to mind what happened in the 2008 9 period when the vix peaked months before stocks bottomed. I don t see evidence of a coming boom nor of an imminent bust.

Mind you all of this is happening in a state that enjoys one of the lowest rates of. The risk of covid to the world has been blown all out of proportion and the lockdowns have been totally unnecessary and egregiously expensive. In 2007 i retired as chief economist of western asset mgmt a manager of institutional fixed income portfolios. Blogging is a source of self discipline.