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Brochure Supplement Dominick Savo
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Brochure Supplement Joe Estes
Brochure Supplement Jonathan Ezra
Statement Of Financial Strength
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Own Your Practice
Letter to Clients
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contact us
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Fixed Income Portfolio (FIP)
FIP Program
Services, Fees and Compensation
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Sample Portfolio
Back Dated Performance Reports
Quarterly Performance Reports
Total Asset Market (TAM)
TAM sm Program
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Sample Portfolio
Back Dated Performance Reports
Quarterly Performance Reports
Municipal Bonds
Taxable Bonds
Par, Premium, and Discount Bonds
Rating and Analyzing Bonds
Refunding & Pre-refunding
Bond Yields
Yield Curve
Secured Bonds
Mortgage Bonds
Unsecured Bonds
Debentures
Subordinated Debentures
Zero-Coupon Bonds
Convertible Bonds
High Yield Dividend Stocks
Independent Money Managers
Fees & Compensation
Corporate Cash Management
Fees & Compensation
Estate Planning
Financial Planning
Client Service Approach
Client's Responsibilities
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Implementation
Legal Services
Termination
Professional Alliance Network
Client Service Approach
Client's Responsibilities
Fees
Implementation
Legal Services
Termination
MUNICIPAL BONDS
Municipal Bond Presentation
About Us
The Management
Global Asset Allocation Products
FIP Program
Classifying Municipal Bonds
Revenue Bonds
Credit Factors Affecting General Obligation Bonds
Credit Factors Affecting the Quality of Local Municipal Bonds
Analyzing the Credit Quality of General Obligation Bonds
Analyzing the Credit Quality of Revenue Municipal Bonds
What We Normally Buy
What We Normally Don’t Buy
Municipal Bonds – Unique Asset Class
Default Rates
Yield Difference
Turnkey Operation Platform
Advantages of Our Bid Wanted System
Advantages of Our Clearing System
Preferred Custodian Settlement
Advantages of Same-Day Allocation
TSL’s Turnkey Operation Platform
Classifying Municipal Bonds
Revenue Municipal Bonds
Types of Revenue Municipal Bonds
Industrial Development Revenue Bonds
Lease-back Bonds
Special Tax Bonds
NHA/PHA Bonds
Moral Obligation Bonds
Municipal Notes
TANs/RANs
BANs
CLNs/GANs
Variable Rate Bonds/Notes
Build America Bonds
Double-Barreled Bonds
Bond Index Components
Open-end-Closed-end-Indenture
Sinking Fund
Bond Contracts
Bond Indenture
Official Statement
Bond Issuance Process
Analyzing GO Bonds
Analyzing Revenue Bonds
Debt Ratios
General Price Analysis of Municipal Bonds
Liquidity
Interest Rate Risk
Credit Risk
Coupon Risk
Maturity Risk
Municipal Bond Insurance
Municipal Bonds Unique Asset Class
Default Rates
What We Buy Currently
What We Normally Don’t Buy
Turnkey Operation Platform
Advantages of Our Bid Wanted System
Advantages of Our Clearing System
Preferred Custodian Settlement
Advantages of Same Day Allocation
Traditional Broker/Dealer Execution Flow
TSL's Turnkey Operation Platform
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Investing During Uncertain Times
Read FULL Seminar Here
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Russian Invasion And The Hawkish Fed: A Killer Combo For Gold?
↗
April 07, 2022
While the Russia-Ukraine conflict keeps the PMs’ hopes alive for now, their medium-term fundamentals are growing more bearish by the day.
Via
Talk Markets
Nomura: "Shock Tightening" In Financial Conditions Is Allowing "Macro Truths" To Override Technicals
↗
April 06, 2022
The recent rally in stocks is, macro-wise, incoherent with what has been happening in financial conditions.
Via
Talk Markets
Stocks Drop On January 5 As Fed’s Grip Grows Tighter
↗
April 05, 2022
The S&P 500 fell by roughly 1.25%, while the Nasdaq finished down over 2%. Today’s drop quickly erased yesterday’s advance.
Via
Talk Markets
Weekly Market Pulse: What Now?
↗
April 04, 2022
The yield curve inverted last week. Well, the part everyone watches, the 10 year/2 year Treasury yield spread, inverted, closing the week a solid 7 basis points in the negative.
Via
Talk Markets
The Logical-Invest Newsletter For April 2022
↗
April 03, 2022
Most of our strategies were positive as the market rebounded from last month’s selloff. Let's take a closer look at how our portfolio performed.
Via
Talk Markets
Inflation Outlook
↗
February 23, 2022
US inflation remains elevated and appears on track to remain so for the immediate future.
Via
Talk Markets
Inflation Thoughts
↗
February 19, 2022
The first part of this letter is going to be a general discussion around the concept of inflation and the second part will get into what you really want to know, which is the likely path of inflation...
Via
Talk Markets
Inflation Expectations And Forecasts
↗
April 02, 2022
Taken literally, average expected inflation over the next five years is coming down. Except for short-term, the surveys indicate a deceleration in inflation relative to today’s levels.
Via
Talk Markets
Weekly Market Pulse: The Cure For High Prices
↗
March 28, 2022
There’s an old Wall Street maxim that the cure for high commodity prices is high commodity prices. As prices rise two things will generally limit the scope of the increase.
Via
Talk Markets
9 Monster Stock Market Predictions For The Week Of March 28
↗
March 27, 2022
It will be a critical week for stocks after weeks of gains. The S&P 500 finished Friday in an exciting spot and at more than one inflection point. It may mark the start of a bigger run higher to the...
Via
Talk Markets
Government Solutions Worsen Every Problem Government Creates
↗
March 25, 2022
Stocks are going up and down while gold is just going up. Bond prices are a function of government intervention and nothing else.
Via
Talk Markets
Where Treasury & TIPS Yields May Be Headed?
↗
March 23, 2022
The March FOMC meeting confirmed one very important issue for the money and bond markets: rates are going to continue to go up.
Via
Talk Markets
Weekly Market Pulse: All Clear?
↗
March 21, 2022
Stocks staged a furious rebound last week based on…well, I’m not exactly sure what it was based on other than the relief that oil prices didn’t continue to go straight up.
Via
Talk Markets
Risk-On Sentiment Resumed For Most Markets Last Week
↗
March 21, 2022
Most markets around the world staged a strong rebound last week, led by stocks in foreign developed markets ex-US.
Via
Talk Markets
US Bond Market Under Pressure As Fed Raises Interest Rates
↗
March 17, 2022
The Federal Reserve on Wednesday raised its target interest rate by ¼ point, the first hike since 2018.
Via
Talk Markets
Inflation-Protected Treasuries Rose As Global Markets Fell
↗
March 14, 2022
In another week of widespread selling of the major asset classes, US inflation-indexed Treasuries continued to rise.
Via
Talk Markets
Consumers And Markets Both Agree, It’s Not Consumer Price Inflation
↗
March 12, 2022
Throw some Eastern European geopolitics into the mix, and surely consumers have been shoved over to the dark side of inflation.
Via
Talk Markets
Recession? The Term Spread Over The Past Four Recessions
↗
March 08, 2022
The evolution of the 10yr-3mo and 10yr-2yr term spread in the months preceding the last four recessions.
Via
Talk Markets
Commodities Continue To Soar As Ukraine War Rages
↗
March 07, 2022
Commodities remained the best-performing asset class by far last week for the major asset classes.
Via
Talk Markets
Gold: Understanding What’s Driving Prices Higher
↗
March 07, 2022
The Russian/Ukraine crisis has been boosting inflation expectations. Remember, if oil prices are high then that increases inflation expectations.
Via
Talk Markets
Will Oil’s Spike Cause A Recession And Bear Market?
↗
March 05, 2022
Learning from past supply disruptions. Also: Are bull/bear charts starting to roll over in the bear's favor?
Via
Talk Markets
February 2022 Performance Review - Major Asset Classes
↗
March 01, 2022
Most markets around the world continued to slide in February, marking the second month of widespread losses in 2022 for the major asset classes.
Via
Talk Markets
SOTU x 2
↗
March 01, 2022
Both the State of the Ukraine and the State of the Union will hold the attention of markets today, the first day of March 2022.
Via
Talk Markets
Stocks Drop On February 28 But The Real Risk Doesn’t Come Until Wednesday
↗
February 28, 2022
Stocks finished the day lower, with the S&P 500 falling around 24 bps, certainly not the disaster that many analysts envisioned given the sanction the US and Europe put on Russia.
Via
Talk Markets
Markets Tested Risk-On Sentiment Last Week As War Rages Today
↗
February 28, 2022
Markets tried to look through Russia’s invasion of Ukraine last week, but as the brutal reality of war becomes clearer, and economic blowback spreads across the global economy, sentiment will come...
Via
Talk Markets
The Stock Market Rally Is Not Likely To Last
↗
February 25, 2022
Stocks have ripped higher since February 24 as real rates plunged sparking a massive short-covering rally. But it does not change the overarching problem, the Fed.
Via
Talk Markets
Real Yields Plunge On February 24, Sparking A Massive Short Covering Event
↗
February 24, 2022
Days like today are impossible to understand, and the only thing one can do is try and put the pieces together.
Via
Talk Markets
Foreign Inflation-Indexed Bonds Led Global Markets Last Week
↗
February 21, 2022
In a mixed week for performances of the major asset classes, inflation-indexed government bonds ex-US posted the strongest gain.
Via
Talk Markets
Russian Crisis To Bring Another Leg Down In Stocks?
↗
February 19, 2022
Stocks are retesting the Jan. 24 lows. Are there any signs pointing to a successful retest? What are the latest developments on inflation?
Via
Talk Markets
Federal Reserve’s Own Inflation Expectations Surveys More Agree With EuroDollar Futures Inversion Than Rate Hikes
↗
February 15, 2022
The FOMC is going to hike rates maybe even aggressively. There’s not much dispute on this assumption.
Via
Talk Markets
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