US Treasury Secretary Steve “The Munchkin” Mnuchin said on Bloomberg News today that Treasury is still considering issuing ultra-long sovereign debt.
Today is a day of little economic news (other than serial bond defaulter Argentina seeing strong demand for its new 100 year sovereign bond issue).
The US Treasury yield curve (30Y-5Y) slope has flattened to the lowest level since December 2007, before The Great Recession.
Robert Shiller, the Nobel Laureate in economics from Yale University, has a cyclically-adjusted price-earnings ratio termed the CAPE ratio. And it just rose to the same level as Black Tuesday of 1929, the famous stock market crash.
Cry for Argentina. Argentina, which has defaulted on its debt seven times, is now faced with the worst fiscal gap since 2000. (Bloomberg) Argentina is planning to sell its first 100-year bond
The New York Fed’s President and CEO William (Bill) Dudley just uttered one of the silliest statements of all time at a business forum in Plattsburgh, New York.
Ah, Illinois. Once known as “The Land of Lincoln,” it is now known as “The Puerto Rico of the Plains.
How bad was the housing bubble of the 2000s? Real home prices remain 21.35% below their peak in 2006 during the housing bubble, according to the Bank for International Settlements.
The New York Federal Reserve’s NOWCAST model for GDP growth just downgraded Q2 GDP growth to 1.86%. The latest culprit? The rotten housing starts data from this morning. And we were so hopeful about 3%+ GDP growth in February. Alas, Congress is not going along with Trump’s economic agenda. GDP optimism seems to sink with […]
With the latest hike in their target interest rate, The Fed Funds Target Rate, Yellen and the FOMC have now completed 4 rate hikes since December 2015 (although my friend Chris Whalen claims there will be no more). One reason why Chris Whalen may be right is that The Fed is bucking the headwinds of […]