Stone McCarthy Research Associates (SMRA) has been providing independent economic research and analysis to fixed-income institutional market participants since 1989. Our readers include portfolio managers, traders, salespeople, and researchers. Our clients range the financial industry from central banks to investment banks, from the world's largest commercial banks to small community banks, from hedge funds to pension funds. Our research is designed to make you better informed and more productive. We provide forecasts and analysis for the major economic data, and a daily tally of upcoming market events. Whether if it's the monthly employment report or an upcoming FOMC meeting: we take you inside the debate. We put market events into context: was last month's CPI a fluke or a beginning of a new trend? How is the Fed managing its balance sheet? When and how will the Fed start to exit the extraordinary accommodation of recent years? How will the Treasury finance the deficit? We also share with you our proprietary weekly fixed income SMR Portfolio Manager Survey, along with a 20-year history of how participants collectively managed duration, and credit allocation. Most recently SMRA was acquired by Oxford Economics, a global forecasting firm. We have developed a combined US macroeconomic offering giving you access to short- and long-term analysis and forecasts for US economic indicators, central bank activity, fiscal policy, and financial markets.