Financial Markets

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Why Are We Speculating About When The Fed Will Raise Rates When The Real Issue Is How – Revisited

The Wall Street Journal raised this issue today, so I am recycling a post I wrote back in March, which itself was a rehash of thoughts I had expressed before. This will be timely until it isn’t, which will be when the Fed actually does try to raise rates, and either proves my skepticism correct,…

Here’s Why ECB Balance Sheet Growth on New QE Can’t Be Called “Success”

ECB Balance Sheet - Click to enlarge

The ECB reported today that it “successfully” purchased €60 billion in bonds in March, meeting its goal under the new QE program. Mainstream finanshill media headlines repeated the “Success!” mantra. However, a closer look at the ECB’s balance sheet data suggests that perhaps that “success” was a hollow one. The balance sheet did expand by…

Here’s Who The Real Smart Money Is, and Why I Would Not Bet Against Them

The Real Smart Money - Click to enlarge

The issue of long and short positions on the ES- Emini S&P futures of large traders came up In the course of my Twitter conversations. When I researched it, I found something that absolutely amazed me. The Wall Street conventional wisdom about the Commitment of Traders (COTs) position reports is apparently wrong! Can you believe that!…