Current Outlook 1) Stock Market – The market is experiencing the honeymoon phase of completing an election. Next will come the performance phase. 2) Bonds – Bond yields priced in the second rate cut in four years. Long-term yields are rising, “steepening” the yield curve. 3) Housing – Housing supply remains tight. It should increase if long-term rates pull back. 4) Gold – Gold is declining into an intermediate cycle low that is not yet … read more Newsletter #494—Putting the P Ahead of the E