Tom is a Head of Fixed Income and a Portfolio Manager at Brown Advisory, overseeing more than $6 billion in bond portfolios in both mutual funds and separate accounts. He has spent over 20 years in the fixed income business, concentrating on macroeconomic analysis. Prior to joining Brown Advisory, Tom was a managing director at Cavanaugh Capital Management. He served as a portfolio manager and was responsible for trading, analysis and management of taxable fixed income portfolios.
You can reach Tom on twitter @tdgraff
Recent Articles By The Author
Here are my takeaways from the Fed meeting and why the chair is struggling with messaging as we're getting closer to seeing Quantitative Easing purchase tapering.
The market's 'narrative' around falling yields isn't internally consistent, suggesting we have several competing narratives playing out at once. Here's what they are and how to position.
Here's my take on the scorching CPI report as the Fed sits on the hot seat on Capitol Hill.
Here's my read on why we're seeing the hawkish shift.
Here's what the numbers mean and how the market will likely evolve from here.
However you slice it, total labor supply doesn't seem to be in recovery mode.
While it remains highly uncertain when interest rates will actually lift off, this FOMC meeting shows we're probably getting closer.
When a trade veers from what you expect, it's crucial to find out whether you have a bad thesis or it just hasn't played out yet. Here's my take.
Powell can no longer assume there will be many months of strong labor gains before wage pressure becomes a serious challenge.