{"id":91473,"date":"2023-08-21T15:37:31","date_gmt":"2023-08-21T15:37:31","guid":{"rendered":"https:\/\/funds.palos.ca\/issue-28-whats-going-on-is-productivity\/"},"modified":"2023-08-21T16:09:58","modified_gmt":"2023-08-21T16:09:58","slug":"issue-28-whats-going-on-is-productivity","status":"publish","type":"post","link":"https:\/\/funds.palos.ca\/fr\/issue-28-whats-going-on-is-productivity\/","title":{"rendered":"Issue 28 &#8211; What\u2019s Going On Is Productivity"},"content":{"rendered":"<p>The yield on the 5-year U.S. Treasury note, the true approximation of the neutral rate, settled at 4.40% on Friday, marking the highest close since June 2008. The neutral rate is elusive but determinant in estimating whether the Fed\u2019s policy rate is too high or too low to keep the economy in an acceptable equilibrium, that&rsquo;s neither hot nor cold. I prefer a market-based estimate of the neutral rate over academic ones because the former tends to incorporate perceptions of demographics, inflation and productivity quicker and perhaps more accurately than the later.<\/p>\n<p>Follow us on: <a href=\"https:\/\/www.linkedin.com\/company\/palos-management-inc.\/\"><strong>LinkedIn<\/strong><\/a><\/p>\n<p><span style=\"color: #000000;\">By Hubert Marleau<\/span><\/p>\n<p><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/funds.palos.ca\/wp-content\/uploads\/2023\/08\/Macro_View_082123.pdf\">Continue Reading in PDF<\/a><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The yield on the 5-year U.S. Treasury note, the true approximation of the neutral rate, settled at 4.40% on Friday, marking the highest close since June 2008. The neutral rate is elusive but determinant in estimating whether the Fed\u2019s policy rate is too high or too low to keep the economy in an acceptable equilibrium, &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/funds.palos.ca\/fr\/issue-28-whats-going-on-is-productivity\/\"> <span class=\"screen-reader-text\">Issue 28 &#8211; What\u2019s Going On Is Productivity<\/span> Lire la suite\u00a0\u00bb<\/a><\/p>\n","protected":false},"author":1,"featured_media":91465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[],"_links":{"self":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts\/91473"}],"collection":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/comments?post=91473"}],"version-history":[{"count":0,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts\/91473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/media\/91465"}],"wp:attachment":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/media?parent=91473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/categories?post=91473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/tags?post=91473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}