All things being equal…this rally has been terrible.
As empty streets and shelves attest, people taking charge of risk has dire economic consequences.How many cases of Covid-19 in your community will it take for you to decide not to frequent public places such as cafes, restaurants, theate…
New York | The rally in risk-free bonds is quickly rendering irrelevant the policy direction of the Federal Open Market Committee. We’ve talked in past…
How much pain are they willing or can they afford to take? The answer: Virtually none.
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.
As is usual whenever central bankers get creative, it doesn’t take them long to pat themselves on the back.
It’s another example of the difficulties in trying to evaluate and analyze non-economic factors. China’s virus outbreak is a nightmare for those unfortunately living through it, and Chinese officials aren’t doing themselves any favors. Trust is a sketchy enough concept. The WHO today says there is no pandemic, which, as Erik Townsend of MacroVoices points […]
The greater the excesses, speculative euphoria and moral hazard, the greater the reversal.A very convenient conviction is rising in the panicked financial netherworld that the Federal Reserve and its fellow dark lords will “save the market” from COVID-…
It’s not different this time. It’s worse. For weeks the bull machine was relentless, ignoring everything on the heels of massive central bank intervention. The warning signs kept mounting in charts getting […]
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.