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Michael Ashton

Michael Ashton

E-PIPHANY

Contributor since: 26 Feb 2010

  • The Challenge Of Reducing The Trade Deficit

    Published 27 March 2018 | viewed 598 times

    The market gyrations of late are interesting. Higher volatility not only implies that lower prices are appropriate in theory but it also tends to happen in practice:…

  • What's Wrong With the Long Run?

    Published 06 June 2017 | viewed 0 times

    In my last article, I talked about the importance of getting clients to focus on their progress towards a long-term goal rather than on near-term…

  • How the BLS Methodology for Wireless Plans Exaggerated a Small Effect

    Published 23 May 2017 | viewed 0 times

    NOTE: The following article appeared in our quarterly inflation outlook, distributed one week ago to clients. We thought it might be interesting to a more…

  • Pre-Existing Conditions and Fire Insurance

    Published 04 May 2017 | viewed 0 times

    When it comes to health care, I continue to be amazed at the utter nonsense that gets tossed about when the discussion comes to insuring…

  • Tariffs are Good for Inflation

    Published 26 April 2017 | viewed 0 times

    The news of the day today - at least, from the standpoint of someone interested in inflation and inflation markets - was President Trump's announcement…

  • Book Review: The Mandibles (related to inflation)

    Published 08 April 2017 | viewed 0 times

    For something a little different, I wanted to write a book review today. But this is not as far removed as it seems, from my…

  • Is This Bubble Smaller Than We Thought?

    Published 04 April 2017 | viewed 0 times

    I haven't written in a few weeks. It has been, generally, a fairly boring few weeks in terms of market action, with inflation breakevens oscillating…

  • Profits and Health Care: A Beneficial Connection

    Published 17 March 2017 | viewed 0 times

    I usually try to avoid political commentary in this space, because it has become so personal to so many people. If I point out that…

  • Summary of My Post-CPI Tweets

    Published 15 March 2017 | viewed 0 times

    Below is a summary of my post-CPI tweets. You can (and should!) follow me @inflation_guy or sign up for email updates to my occasional articles…

  • Good Models and Bad Models

    Published 13 March 2017 | viewed 0 times

    I have recently begun to spend a fair amount of time explaining the difference between a "good model" and a "bad model;" it seemed to…

  • That Smell in the Fed's Elevator

    Published 07 March 2017 | viewed 0 times

    A new paper that was presented last week at the 2017 U.S. Monetary Policy Forum has garnered, rightly, a lot of attention. The paper, entitled…

  • A Short Remark About an Ominous Count

    Published 01 March 2017 | viewed 0 times

    This will be a very short remark, partly because I am certain that someone else must have observed this already. The Dow Jones Industrial Average…

  • Summary of My Post-CPI Tweets

    Published 15 February 2017 | viewed 0 times

    Below is a summary of my post-CPI tweets. You can (and should!) follow me @inflation_guy or sign up for email updates to my occasional articles…

  • Pension Fund Perils: Why Conventional Pairing of LDI with De-risking Glide Paths Produces Inferior Outcomes

    Published 09 February 2017 | viewed 0 times

    Milla Krasnopolsky, CFA and Michael Ashton, CFA[1] Combined use of traditional Liability Driven Investment (LDI) and funded status responsive de-risking strategies should be decoupled or…

  • Entering the RINF Cycle

    Published 06 February 2017 | viewed 0 times

    Because I write a lot about inflation - we all have our spheres of expertise, and this is mine - I am often asked about…

  • The Fed Needs More Inflation Nerds

    Published 30 January 2017 | viewed 0 times

    Earlier today I was on Bloomberg<GO> when the PCE inflation figures were released. As usual, it was an enjoyable time even if Alix Steel did…

  • Summary of My Post-CPI Tweets

    Published 18 January 2017 | viewed 0 times

    Below is a summary of my post-CPI tweets. You can (and should!) follow me @inflation_guy or sign up for email updates to my occasional articles…

  • The Yield Curve is Critical of Fed Credibility

    Published 05 January 2017 | viewed 0 times

    I was planning to write an article today about the shape of the yield curve. Since the Global Financial Crisis, the Treasury curve has been…

  • A (Very) Long History of Real Interest Rates

    Published 23 December 2016 | viewed 0 times

    One of the problems that inflation folks have is that the historical data series for many of the assets we use in our craft are…

  • Add Another Uncomfortable First for Stocks

    Published 15 December 2016 | viewed 0 times

    It hasn't happened yet, but it is about to. Not since just before the financial crisis has the expected 10-year real return from stocks been…