The Buffalo AKG Art Museum ribbon cutting will be June 12th.

No one, including me, thought the Bills would trade up in the draft for a tight end. But once the receivers were off the board this move is brilliant. Bills need a midfield threat.

Turns out the unannounced IRS visitor made a clerical error. Does not induce confidence in the system.

An IRS agent showed up, unannounced, at my company’s Tampa office today for no legitimate reason.

Neil Howe, perhaps the leading demographer in America (he foretold the GFC a decade before it happened) has a new book coming out July 18th titled “The Fourth Turning Is Here”. I could not agree more with his thesis. The Big Reset is nigh.

The NFIB Small Business Credit Conditions Index is plummeting (not surprisingly given recent bank failures) and it is now in the same place it was in late 2007/early 2008.

Deputy Secretary of Defense Kathleen Hicks: “It is absolutely the case that the United States military should be able to pass an audit and we’ve got to be on that pathway to get there.” The “pathway” is obvious, Deputy Secretary: Transparency.

Flying home today I learned a friend killed himself Praying he’s found peace

So many artists I meet cite Robert Rauschenberg as a major influence. Yet almost nobody outside the artist community even know who his is.

Sacramento is trying to claim the right to retroactively tax former residents. It’s a mad, mad, mad mad world.

UST 2 Year versus 10 Year is now inverted 40 basis points. Was 107 basis points just a few weeks ago. All UST Yields two years and out are well below the Fed Funds rate. Red alert recession signals.

I predict the Federal Reserve will be cutting rates substantially soon. I am wrong about 30% of the time so factor that into any decision making.

Seems obvious the US Treasury Yield Curve will not stay how it is now for long. Curve was deeply inverted, curve is rapidly de -inverting. Saw a financial media TV crawler today that called the Fed “defiant”.

Societe Generale stock has a chart pattern very similar to Credit Suisse since the Global Financial Crisis.

The February 1st Powell presser had the Chairman feeling it. Relaxed and confident. Used the word “disinflation” multiple times. I suspect the questions will be tougher this time. And the vibe in the room more tense.

Ten Year UST Yields peaked 5 months ago. They are lower today (not by much) than they were 9 months ago.

Yields one year and in are around 4.5%. Yields two years and out are a hundred basis points lower. Risk manage accordingly.

The ten year Treasury yield is below 3.37%.

I receive several “direct messages” from Twitter every day. I read none of them.

If Ten Year Treasury Yields drop below 3.37% they will go much lower. “May you live in interesting times.”

Looking at the charts, it seems UST yields have not bottomed. Uh oh.

Fast moving situation: Goldman readies claims trading for wiped out Credit Suisse Debt.” Hmmm. Maybe the “Angry Distressed Debt Traders” (good name for a band!) are calling in some chits.

Members of my investment team met with a very significant asset allocator last Wednesday, who reported that ALL of their “distressed debt” managers opined that Credit Suisse’s bonds were “money good”, meaning would return par. Only off by 100 points. To quote Rick Perry: “Oops.”

Bloomberg reports the gunslingers who foolishly kept holding Credit Suisse’s bail-in bonds are angry they are being wiped out. Seriously? Put on your big boy pants and look in the mirror. That’s where the “blame” lies. Learn how to manage risk!