Chicago is truly “the Puerto Rico of The Plains.” Deep, deep in debt (declining population, rising expenditures). In a frantic move to raise their bond rating, Chicago is doing what the late David Bowie did back in 1997
BB King sang it best with “The Thrill Is Gone.” Now that hopes for tax reform are gone (probably for a year), the US Treasury 10Y-2Y curve slope remains below 80 basis points.
M2 Money Velocity (GDP/M2 Money Stock) actually rose in Q3 2017 to 1.4282. At least it rose above the all-time from Q2 of 1.428. As M2 Money growth continues to be >2x real GDP growth YoY. Yet momentum in the … Continue reading →
The SPX volatility index VIX is near an all-time low as The Federal Reserve attempts to raise their target rate and unwind their $4.46 trillion balance sheet. The question remains as to how further rate increases and balance sheet unwinding … Continue reading →
The US Treasury 10 year – 2 year curve slope flattens to 69 basis points. And the 30Y-5Y slope has flattened to 81 basis points. Winning!
Venezuelan President Nicolas Maduro announced his is going to seek debt relief.
Another jobs Friday and this one has some good news: The U-6 Underemployment Rate* fell to 7.9% in October.
The Trump/GOP tax plan has been released. 363297702-Trump-Tax-Plan Lowers individual tax rates for low- and middle-income Americans to Zero, 12%, 25%, and 35%
(Bloomberg) — Bank of England policy makers raised interest rates for the first time in a decade, yet expressed concern for Britain’s Brexit-dented economy by indicating that another increase isn’t imminent.
Now that the drama over The Fed Chair selection is over, we can focus of other earthly matters, like Greece sovereign debt restructuring.