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 S&P has now broken through a long term uptrend line that dates from the 2014 peak. All intermediate and short cycles remain in gear…
Thanks to a little spreadsheet snafu this weekend, I’m way behind the 8ball, so here’s a barebones post to start the day.
Oh What a Tangled Web We Weave When First We Update a Spreadsheet from Fed Data I got into a bit of a pickle this…
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. […]
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.
While ebullient markets have briskly moved on, I’m not done with Archegos.
The lesson of China’s Cultural Revolution in my view is that once the lid blows off, everything that was linear (predictable) goes non-linear (unpredictable).