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.
Fed QE: $2.401B TIPS Purchase 2020-07-22
Stonks reporting season is rolling on. And so far, things are predictably gloomy:Yeeks! But wait, by sector:Seven out of eight sectors are reporting lower net profit margins than 5 year average, with Utilities being the only sector reporting above aver…
To hear it told nowadays, you’d think that gold’s amazing run began when Jay Powell started cranking out bank reserves. Those telling the story equate those bank reserves to effective money printing, so it conforms to the conventional myth about gold’s relationship to the money supply (whatever that is). Throw in a federal government, every […]
Fed QE and Treasury supply remain roughly in balance. The Fed is still funding most, if not all new issuance, either by direct purchase of…
What they don’t understand is inequality is America’s Monster Id: the more you try to suppress it, the more powerful it becomes.The word privilege is much bandied about now. I’ve been writing about privilege for many years, and ended up …
Yesterday was a clear breakout. This morning we have follow through. The 5 day cycle projection has risent from 3255 to 3285. Channel resistance on the daily chart, 3270. And if that’s cleared 3325. If 3265 holds, then we pull back to 3230 and wait.
Gold has broken through minor resistance and seems headed for its 13 week cycle projection before this move is exhausted. I’ve added a new mining pick to our list.
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 ES was weak overnight. Fool me once etc. Don’t even start to think about the downside unless they take out ES 3185.