Once again they took all the pain away. What looked like the beginning of a larger market correction, amid renewed reductions in global growth outlooks, was again aborted in its tracks by […]
Central bank monetary stimulus has succeeded in completely turning risk analysis on its head. In all the craziness, China fragilities are a positive.
We knew German Industrial Production for December 2019 was going to be ugly given what deStatis had reported for factory orders yesterday. In all likelihood, Germany’s industrial economy ended last year sinking and maybe too quickly. What was actually reported, however, exceeded every pessimistic guess and expectation – by a lot. IP absolutely plummeted in […]
In context of the week’s market gains Friday’s decline was minor, but context may matter.
President Trump mentioned the unemployment rate seven times during his third State of the Union address delivered on Tuesday. It was obvious why he did (though I had expected twice that number). His reelection largely stands on where enough people believe the economy stands. He was, after all, elected four years ago to fix what […]
When you’ve been lied to, you’ve been betrayed. Betrayal has consequences.Unsurprisingly, denying the pandemic is unstoppable and consequential is the order of the day: authorities everywhere are terrified these realities might leak through all th…
Are central banks, in their desperate quest to intervene big time pig time all the time to extend the business cycle at all costs, setting up bulls for a dive off of […]
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.
I wrote a few months ago that Germany’s factories have been the perfect example of the eurodollar squeeze. The disinflationary tendency that even central bankers can’t ignore once it shows up in the global economy as obvious headwinds. What made and still makes German industry noteworthy is the way it has unfolded and continues to […]
New highs again for tech as $NDX keeps relentlessly crawling higher,