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Thru the Cycle

John Lonski

John Lonski's take on the financial markets.

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Substack
PricingOnly free issuesPublishesTwice weekly
Issues238Founded3 years agoLast Issue5 days ago
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Latest Issues

Closed Strait of Hormuz Helps Send Mortgage Yield Up from Four-year Low to One-year High

Closed Strait of Hormuz blocks recovery by US home sales …

The jump in Treasury bond yields following the Iran conflict has made matters worse for the US’ flat housing market.

Just prior to the start of the Iran conflict, the FHLMC’s 30-y...

5 days ago
5
1

GDPNow Says GDP Wow!

Real private-sector spending growth may top 4% in Q3 2026 …

According to the Atlanta Fed’s forecasting model, core real GDP, or real spending on final products by households and businesses, is projected to expand by 4.6% annualized from th...

7 days ago
2

Foreign Policy May Now Matter More Than Fed Policy

July’s surveys of US manufacturing and services were hot …

July’s expenditures may have been rapid enough to prevent any meaningful decline in inflation risks. July’s ISM index for US manufacturing activity jumped up to 55.6 points for its...

9 days ago
4

Fed Cut Rates Despite How Treasury Yield Curves of 1992 and 2002 Strongly Warned of Rate Hikes

Higher Bond Yields and Lower Share Prices Lessen Inflation Risks

Who needs a Fed rate hike if fixed rate borrowing costs rise and equity shares drop. Nevertheless, something much deeper than July 29’s -$1.13 trillion drop in the market val...

13 days ago
6

Hostilities Off, Risk On … Hostilities On, Risk Off

Right now, a convincing re-opening of the Strait of Hormuz would do more to rein in price inflation than would a Fed rate hike.

Apparently, the experts and their leaders failed to foresee Iran’s ability to effectively close of the Strait o...

14 days ago
4

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  • John Lonski

    financial economist. data sleuth.

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