2022-Lite

Published on February 13, 2025

Michael Contopoulos breaks down why CLOs offer attractive relative value, why short-duration positioning may help manage interest rate uncertainty, and the importance of an active approach for this year in particular.

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Forecasting Error Puts Fed On Wrong Side Again

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The Federal Reserve’s record of forecasting has frequently led it to respond too late to changes in economic and financial conditions. In the most recent FOMC meeting, the Federal Reserve changed its statement to support a pause in the current interest rate-cutting cycle.

Will US Export Restrictions Work?

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Perhaps US efforts to cut off China’s access to advanced semiconductors will be more successful than analogous restrictions on tech exports to France in the 1960s. But we now have at least one data point – DeepSeek – that suggests otherwise.