The fight for containment is on and so is the effort at damage control. Chinese markets are set to open again tomorrow having been closed for days. As has become common practice […]
There was a lot of disquieting information contained within this week’s release of the GDP numbers. Imports, the inventory cycle, capex; even high-tech capex. A growing catalog of parts suggesting the economy is not just leaning the wrong way perhaps accelerating in that direction.
The Federal Reserve added the word “symmetric” to its inflation goal for a reason. Back in May 2018 when it was made official officials made quite a big deal out of it. It was for two reasons, actually, both of them intertwined in the way Economists believe the economic system is supposed to work; and […]
What if bears were right all along? What if it’s not different this time? What if this Fed liquidity inspired rally produced precisely the kind of exuberant final thrust we often see at […]
For Fintwit the big news last night was not that the Senate voted not to call witnesses (I don’t think anybody was surprised by that) nor that markets had dropped hard following […]
Welcome to The First Major Pandemic Scare for –after a most freakishly protracted boom – a highly integrated world. Here’s what it could mean.
I’ll discuss markets in more detail this weekend, but wanted to share something we’re watching. Obviously this week has been wild with steep rallies and also just as steep selloffs. On the […]
Dow 30,000 is “unsinkable,” just like the Titanic.A recent Barrons cover celebrating the euphoric inevitability of Dow 30,000 captured the mainstream zeitgeist perfectly: Corporate America is firing on all cylinders, the Federal Reserve’…
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.
Jay Powell says that three’s not a crowd, at least not for his rate cuts, but four would be. As usual, central bankers like him always hedge and say that “should conditions warrant” the FOMC will be more than happy to indulge (the NYSE). But what he means in his heart of hearts is that […]