25 Chinese warplanes few into Taiwan’s Air Defense Identification Zone (ADIZ), the largest incursion since the island first started reporting such activity in September 2020. The aircraft involved were 14 J-16 fighter jets, 4 J-10 fighter jets, 4 H-6K …
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.
CUSIP: 912810SU3Term and Type: 29-Year 10-Month BondSeries: Bonds of February 2051Reopening: YesInterest Rate: 1.875%High Yield: 2.320%Price: $90.454200Allotted at High: 54.85%Total Tendered: $62,863,089,400Total Accepted: $27,684,435,400Auction Date: …
It’s not so long ago that much of Europe was looking over to the UK in astonishment at how badly the government was handling the Covid-19 pandemic. As recently as January, the country had the highest death rate in the world. Thanks though to a swift an…
I’m a very lonely voice in equity markets right now. Technically nothing has really surprised me yet, not the $VIX crush to the February gap fill, not the move toward the 4156 […]
All the risks generated by gambling with trillions of borrowed and leveraged dollars didn’t actually vanish; they were transferred by the Fed to the entire system.
CUSIP: 91282CBL4Term and Type: 9-Year 10-Month NoteSeries: B-2031Reopening: YesInterest Rate: 1.125%High Yield: 1.680%Price: $94.985814Allotted at High: 19.14%Total Tendered: $95,405,599,100Total Accepted: $43,833,656,700Auction Date: 04/12/2021Issue D…
The ghost of 2013 indeed is hanging over this market. Nothing matters and the trend remains fully intact and new record market highs are made every month. November, December, January, February, March, […]
After falling to a pandemic low in the week ended March 20, initial jobless claims crept up again over the past two weeks, signalling that layoffs are still lingering despite many signs pointing towards a recovery. As states are gradually easing restri…
The answer to the question, “What should I do to my portfolio today (this week, this month)? is almost always nothing. Humans, and especially portfolio managers, have a hard time believing that doing nothing is the right response….to anything…or nothing. We are programmed to believe that success comes from doing things, not not doing things. […]