Cylces and support and resistance are all a mixed bag, but there are clear benchmarks to watch that will signal what comes next and how…
In today’s POMO, the Fed bought $1.6 billion in coupons, to offset shrinkage of its MBS portfolio in the normal process of mortgage prepayments.
Lest we forget, the Fed is still doing regular small POMO to replace MBS paydowns. But as we saw this week. It’s not enough.
The phrase. “It’s the economy, Stupid,” became famous in first Clinton campaign. And Wall Street has always wanted you to believe that indeed, it is the economy, Stupid.
But the game has changed radically in the past two weeks
The game has changed radically in the past two weeks, so it does not matter one iota what the economy is doing. It’s the debt,…
Gold has popped but the 13 week cycle down phase could have a few more weeks to run. Here’s what needs to happen.
Is the stock market at Irving Fisher’s famous “permanently high plateau?” Is that plateau a launchpad for even higher prices? Or is it perhaps a cliff?
Yes, it’s an emergency. No, it won’t be temporary. With a trillion or more a year in new Treasury supply coming to market as far…
I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that.
In accordance with the FOMC Directive issued September 18, 2019, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct an overnight repurchase agreement (repo) operation from 8:15 AM ET to 8:30 AM ET tomorrow, Fri…
