Entrepreneur
A three-month bill pays 3.92 percent and a thirty-year bond pays 5.27. The gap is the price of thirty years of trust, and this week the market, the Treasury, and gold all said it is not enough. … readThe Price of Thirty Years
The Federal Reserve cools an economy by making doing nothing pay, raising the hurdle rate every investment must clear. Four years and $8 trillion later, the money is still parked. … readWhy the Cars Never Left
A cap rate is not a property statistic. It is a price set against Treasury yields, and when the spread between them collapses, trillions of dollars migrate out of real estate and values fall on income that never changed. … readWhen the Bill Beats the Building