Archive for December, 2011

December 2011

December 31, 2011  |   Monthly Commentary   |     |   0 Comment

As we commence the New Year, our thesis has not changed from that which we held 12 months ago; namely, U.S. interest rates are artificially low and the U.S. economy is performing better than general consensus believes. To fully clarify where we find ourselves at this stage of the economic cycle, we’ll first examine the trading dynamics witnessed in the just concluded fourth quarter, followed by a discussion of our current positioning and expectations for ...