This is the fourth in what will be a long running series of Gold Coast Wealth Management’s commentary on the financial markets. These commentaries will not have a formal schedule and will be written when events or market related topics strike us as important.
At Gold Coast Wealth Management there is a feeling of nostalgia in the air; it feels like 1994 all over again, and instead of searching New York City for cheap happy hours with free food, we are transported to Europe. Travelling with us is an old group of friends that we have not seen since 1994…the Bond Vigilantes. Boy did we miss them. They are the kind of friends that usually make an event or party more interesting. They were supposed to meet us a few years back, in the U.S., when the Fed started its money printing campaign but they were busy. Then just this past year when U.S. elected officials couldn’t get their act together to raise the debt ceiling and cut the deficit, we thought we would see our good friends make an appearance, but again they were busy focusing on other things. You may wonder why we still like our friends because they have not been very reliable recently; missing a few command performances that we thought necessitated an appearance. And we were beginning to think the same.
