New Century Advisors’ market commentaries offer a unique and insightful perspective on capital markets topics.

August 2023: Historic Opportunity Created by Short Duration Bond Yields

  • We see opportunity as US Treasury yields are highest in over 10 years; we also see value in spread sectors.

May 2023: Debt Ceiling Scenarios

  • We see the risks to the negotiations skewed toward a relatively benign outcome, but believe that the upside/downside to risk/markets is skewed negatively. See our views in this article on various debt ceiling scenarios and how we're positioned.

October 2022: Short Maturity Bonds - The Glass is More Than Half Full

  • Given the current market and economic backdrop, which can fairly be characterized by uncertainty, geopolitical instability and rising recession odds, short duration bonds offer a wealth of opportunities.

September 2021: The Transitory Debate Continues

  • Our take on the latest CPI print, in pictures.

March 2021: What Exactly is Priced into TIPS?

  • Given the importance that the inflation outlook has on the monetary policy outlook and on financial markets more broadly, it’s important to understand exactly what TIPS prices are telling us.

February 2021: Copper is a Green Metal, not the Red Metal

  • Public demand for products and services that help reverse climate change is unquestionably admirable, and perhaps a defining social movement for the next few decades. For corporations, there will be many challenges, especially as green pledges come face-to-face with the realities of their supply chains, including for commodities like copper.

February 2021: Inflation: When Should We Worry?

  • Thanks in part to an expected recovery in inflation, the Fed will grapple with the decision of when to taper their asset purchases – possibly as soon as later this year.

January 2021:  SPAC-Mania is Here! Are There Implications for the Broader Markets?

  • SPAC Formation has Exploded - How Important is this Trend?

December 2020: Opportunities in Credit - Looking Through All-Time Tights

  • Compelling Opportunities Remain in Certain Sectors and Fallen Angels

Archived commentaries:

March 2019: Auto Loan Myth, Index Changes & M&A Fallout: Market Notes

February 2019: Value, Inflation, Australia: Market Notes

January 2019: Looming Fed Pause & Other Market Notes

July 2018: The US Agg - More Risk / Less Diversity

May 2018: Why Does my TIPS ETF Have a Negative Return?

January 2018: Tax Reform Impact on the Credit Markets

November 2017: Flatter Curve Ahead

November 2017: Powell New Fed Chair

October 2017: CPI - Hurricane Headline vs. Calm Core

September 2017: Inflation Gets Back on Track

September 2017: Fed Slims Down 

August 2017 Inflation Dashboard - Global Inflation: Improvement

July 2017 Inflation Dashboard: Fronts Collide

June 2017 Inflation Dashboard: Patience Challenged as Risks Mount

May 2017 Inflation Dashboard: Fundamentals Call for Patience 

Looking for the Fat Pitch 

April 2017 Inflation Dashboard: Fundamentals vs. Technicals

January 2017: New Perspectives: Overdone?

March 2017 New Perspectives:  Taking Advantage of Oil’s (Not-So) Surprising Downtrade