“If the policy is in error, expect a policy error.” – Tad Rivelle, CIO – TCW

On several occasions in the past, we have articulated our belief that the U.S. equity and bond market valuations are stretched. We have also argued that Zero Interest Rate Policies (ZIRP), practiced by the U.S. Federal Reserve (Fed) and other global central banks since the credit crisis, have led to investors chasing higher yields and […]