Energy produced by coal around the world has been rising globally over the last decade despite increased efforts for alternative sources like natural gas and renewable energies. New data shows that global coal power produced in 2020 is expected to fall…
Fed QE: $1.201B TIPS Purchase 2020-08-04
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.
The Fed and Treasury can guarantee all the loans they want. That doesn’t mean that anyone will want to borrow or any banks will want to lend:
The price action is a horror show.
Few appear willing to follow the probabilities of a future in which a vaccine cannot possibly be the “magic cure” everyone wants.Let’s attempt the impossible and set aside all preconceptions we might have about a vaccine for Covid-19, and think it thro…
If we could chart “inequality,” it would at this point be rising parabolically – following the trajectory of the Fed’s balance sheet. I had been assuming Fed holdings would at some point be getting a lot larger. It seemed clear inequality would only get worse. COVID dramatically accelerated both trends.
Is three weeks a new record? That’s about how long Jay Powell’s performance bought him across most major markets. It was May 17, a Sunday night, when he appeared on 60 Minutes and, pardon me again, lied his ass off. One right after another, starting with the most obvious falsehood that his gang at the […]
The self-sustaining recovery is a fantasy that’s evaporated.What looks like a powerful, can’t-lose rally to newbies is recognized as distribution by old hands. In low-volume markets (as in the past few months), insiders holding large pos…
Fed QE: $8.801B Coupon Purchase 2020-07-31