Bond yields have tumbled, bringing the 10-year US Treasury rate within sight of its record low level.
No matter how much Fed officials keep insisting that inflation will (someday) rise toward 2% and stay there, the evidence right now gives them plenty of justification should they wish to change tune.
Profit growth from business expansion ain’t happenin’.
After having screwed everything up from August 2007 forward and left the world in this precarious state, central bankers have performed one further despicable disservice.
Gold is the ultimate hedge, but it is far from perfect.
Earlier this year, Chinese authorities reduced the VAT tax the government charges auto manufacturers. The results were immediate, and fleeting.
The Chicago Fed’s National Activity Index (NAI) fell to -0.36 in July. That’s down from a +0.10 in June. By itself, the change from positive to negative tells us very little, as does the absolute level below zero. What’s interesting to note about this one measure is the average but more so its rate of […]
After trading overnight in Asia, Japan’s government bond market is within a hair’s breadth of setting new record lows. The 10-year JGB is within a basis point and a fraction of one while the 5-year JGB has only 2 bps to reach. It otherwise seems at odds with the mainstream narrative at least where Japan’s […]
In January 2018, Bill Gross was at it again. Famous for being the longtime public face of PIMCO, he’d acquired as much notoriety for being the boy who cried bear.
Curiously short on star power, the Jackson Hole gathering this year has already taken an odd turn. It’s been practically subversive.
