Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
It’s interesting what the eurodollar futures curve has done today. Over the past several weeks, of course, the curve has collapsed though with much more focused buying at the front end of it. That’s understandable given the common scenario being priced in – that the Fed will reluctantly be forced into sizeable rate cuts very […]
Panic in the ‘save stocks at all costs’ world. Calls from the President on down demanding the Fed cuts rates on an emergency basis before even the March meeting. The G7 is […]
The first glimpse at China’s economy in its full virus effects was beyond ugly.
Last week, financial markets wiped out about a quarter of the market value of large US banks and nonbank companies.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Force cannot restore legitimacy, trust or confidence, nor can it magically erase the consequences of a still-unfolding national trauma.The Chinese authorities threatening to punish workers who refuse to return to work are getting a lesson in the limits…
Complacency came before the fall. All of 2019 market participants ignored the non existent earnings growth. Too strong was the now pavlovian reflex to chase easy central bank money. Too trusting in […]
Manias are accidents in the making. And after an agonizing week, markets crave for emergency central bank stimulus – yet another rash morning shot of the “Hair of the Dog.”