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According to Bloomberg last week was the most volatile week in history.  In my view the greatest risk at hand is the liquidity issue morphing into a solvency issue.  I would like to use the $3.9 trillion municipal bond market as example of how trading...

Many times, I have commented about liquidity issues and how it relates to the repo market. As widely discussed the Fed is intervening into the “plumbing of the markets” on a daily basis since ...

It is often written the markets are a microcosm of the myopicy of current perspectives. The issue at hand is to recognize the next myopic dominating view. ...

In my view the averages are vastly over bought predicated upon speculation of a roll back of some onerous regulation—more specifically Dodd Frank which has crushed capital formation for the smaller companies, capital which is the lifeblood of capitalism and growth—and greater infrastructure spending....

The narrative is beginning to rise about liquidity issues within the fixed income market, the result of Dodd Frank. These new rules imposed in the wake of the financial crisis made it more expensive and more difficult for banks to hold corporate bonds on their...