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Michael Lebowitz

  • Analysis & Comment

Michael Lebowitz's Comment & Analysis
A complete archive of Michael Lebowitz's articles, including current analysis & comment - Page 5

The Deficit Crisis Is Really a Recession Problem
By Michael Lebowitz - Jun 06, 2025
The graph below provides a clearer understanding of the US fiscal deficit. First, focus on the red line below, graphing the ratio of federal debt to GDP. Note that it is at the same level today as it...
Digital Money was the title of TBAC’s April 30, 2025, presentation to the U.S. Treasury Department, and an important topic worth discussing. TBAC, short for the Treasury Borrowing Advisory Committee,...
Some bearish bond investors in Japan and the US appear to believe that a paradigm shift is underway in the sovereign bond markets. To wit, consider the following statement from Jim Bianco on...
As retirement approaches—or begins—investors often find themselves at a crossroads: How can you preserve the wealth you’ve accumulated while still ensuring it continues to grow? Striking the right...
On Wednesday afternoon, the judges from the US Court of International Trade struck down some of President Trump’s tariffs. Notably, the judge’s actions included an injunction on the “Liberation Day”...
Consumers Are Not as Gloomy as Recession Calls Imply
By Michael Lebowitz - May 29, 2025
The Conference Board’s consumer confidence index surged from 85.7 to 98.0. Such was the largest one-month increase since 2009! Clearly, progress on trade deals and the delay in implementing tariffs...
Narratives Vs. Fundamentals: Battle in the Bond Market
By Michael Lebowitz - May 28, 2025
On January 8, 2025, we answered many of your questions with an article entitled Why Are Bond Yields Rising? Since then, bond yields initially fell but have recently risen back to early January...
How to Achieve Financial Independence and Retire Early
By Michael Lebowitz - May 24, 2025
The FIRE movement—short for Financial Independence, Retire Early—has gained popularity among those who want more control over their time and financial future. Unlike traditional retirement models,...
When building a strong and diversified portfolio, most investors focus heavily on stocks. But bonds play an equally important role—especially when it comes to managing risk and providing consistent...
Why Are Yields Surging in Japan?
By Michael Lebowitz - May 23, 2025
The short answer is that the Bank of Japan (BoJ) is letting the market set yields. For years, the BoJ has run an extremely loose monetary policy, including capping yields at extremely low levels and...