Here are our eleven investment themes for 2011. Each of these is either specifically or generally embedded in our investment strategies.
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Eleven Themes for 2011
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Arthur awoke to the sound of argument and went to the bridge. Ford was waving his arms about. "You're crazy Zaphod," he was saying, "Magrathea is a myth a fairy story, it's what parents tell their kids about at night if they want them to grow up to be economists, it's..." "”Douglas Adams, The Hitchhiker's Guide to the Galaxy, Chapter 16.
The weakness in US Treasuries over the past few days has also resulted in big weakness in MBS and muni's. Muni's have also been under pressure because the tax proposal agreed on in DC didn't include any extension of the Build America Bond program and the belief that we would see a flood of tax exempt issuance in 2011 to replace the BAB's. MUB, the main muni ETF, is bouncing off its lows after this headline just hit the DJ tape, "Senate Democrats seek to add Build America Bonds to tax deal." ...
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