Superlatives are easy to use but difficult to defend, so Atlas won’t use one here. We are willing, however, to use a technical phrase when describing 2022: it sucked. Right out of the gate, the market peaked on the first trading day of the year and then trended lower for the remainder. A similar pattern developed in the bond market. Providing the other bookend for
Well, here we are, January 1st, 2021 is less than 24 hours away. Each year, January ushers in feelings of optimism and new starts. It all happens for a good reason: Janus. Janus is the god of (among other things) time, transitions, and beginnings in ancient Roman religion.
One hundred years ago our global economy was entering the Roaring Twenties. After a rough start, it was a period marked by economic prosperity in the West. America was leading the way in finance. Metropolitan regions were experiencing extraordinary growth. Even Judy Garland wondered how they were going to keep ret