The Macro Ratio

Market commentary and analysis.

Analytically IndefensibleHistory suggests the Fed target rate is nowhere near neutral. 
Monster RallyInvestors should be wary of a bull trap as market conditions are likely to worsen.
Getting Through WithdrawalThe case of Akorn in relation to Twitter v. Musk. 
Merger In ShamblesThe case of In Re IBP in relation to Twitter v. Musk. 
No ConfidenceThe American People understand the economy better than the Fed. 
Flip-Flop FedDeeper recession will test Fed's commitment to inflation, undermine real returns in rates.
The Hidden TaxInflation heightens the risk to American democracy.
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