Professional Background
Eric is a career-long specialist in interest rates with 25 years of U.S. sovereign interest rate experience in U.S. Treasury bonds, repurchase agreements, and interest rate futures. He served 21 years at Kessler Investment Advisors, Inc. (KIA) under U.S. Treasury maverick and pioneer, Robert Kessler. He was president of KIA from 2012 to 2021. Over many years surrounding the Great Financial Crisis, he worked with Goldman Sachs in Hong Kong to offer a profitable leveraged 2-year U.S. Treasury/repurchase-agreement strategy to institutional investors in Asia.
Eric has been quoted in Barron’s, on CNBC, and ZeroHedge with several articles published on Advisor Perspectives. In 2024, he created the Lantern Daily Economic Index, a revolutionary daily index measuring the growth of the totality of the data. He also wrote the whitepaper “GDP of each Federal Reserve District” which found how uneven economic production is in each of the twelve Federal Reserve Districts.
Development of the LDEI Index
The Lantern Dynamic Equilibrium Index (LDEI) represents the culmination of Eric's research into Treasury market behavior. Developed over several years of rigorous backtesting and refinement, the LDEI synthesizes multiple market signals into a single, actionable indicator.
Unlike traditional market indicators that focus on single metrics, the LDEI incorporates yield curve dynamics, volatility patterns, and flow data to provide a comprehensive view of Treasury market conditions. The index has demonstrated predictive value for significant market moves, particularly during periods of policy uncertainty.
Investment Philosophy
Eric's approach to Treasury analysis emphasizes understanding the interplay between monetary policy, institutional positioning, and market technicals. He believes that the most valuable insights come from connecting these often-siloed perspectives.
"The Treasury market isn't just about rates - it's about understanding how institutional capital responds to policy signals. That's where the real alpha is."
This philosophy drives the daily analysis delivered to Lantern Capital subscribers, combining quantitative rigor with practical trading implications.