The Street has continued to retreat from previous estimates of bank earnings made just a few months ago.
The Federal Open Market Committee has now completely reversed its 2018 policy goals
Last week’s volatility in the market for fed funds gave a lot of equity managers an opportunity to brush up on their understanding of the workings of the short-term money markets.
We are filled with sadness watching members of the Sell Side trying to concoct a rationale for going long banks stocks in front of Q3 earnings.
After feasting for years on the “extraordinary” policy of the Federal Open Market Committee (aka “Financial Repression),” the banks are now getting squeezed in a deflationary vice.
China is ‘weaker’ than many in the West perceive, and that weakness in turn influences China’s actions. How does this play into what we are witnessing in the current trade war?
Central bankers have a dangerous “I am superman” complex.
New York – Happy summer. Much has changed in the markets since the last meeting of the Federal Open Market Committee several weeks ago. The target for short-term rates was cut a quarter point and, more important, the runoff of the Fed’s balance sheet ended, removing the tightening bias to US monetary policy. We had called loudly for the latter and discounted the former, most notably in a discussion on CNBC, so we view the FOMC action as the least that could be done given the political noise
Could it be that narratives in the mainstream media about China are not entirely accurate?
Noted financial author Nassim Nicholas Taleb has little patience for economists. With good reason.