Back in the middle of 2018, this kind of thing was at least straight forward and intuitive. If there was any confusion, it wasn’t related to the mechanics, rather most people just couldn’t handle the possibility this was real. Jay Powell said inflation, rate hikes, and accelerating growth. Absolutely hawkish across-the-board.And yet, all the way […]
Dicsucs.
Meanwhile, we have an apparently bullish setup in the 5 day cycle oscillators after a powerful NY 4 AM rally. Why then? Europe?
But if it doesn’t clear 3050, it don’t mean a thang.
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: $1.731 B Coupon Purchase 2020-06-25 NYFed treasury securities operations
Once you allow your economy to become dependent on extremes of debt, leverage, inequality, legalized looting, monopoly, pay-to-play politics and speculative asset bubbles, a depression is inevitable.
Where central banks are concerned, it’s not conspiracy theory so much as the term “off-balance sheet.” There’s a reason Enron kicked off that mass-migration into the footnotes. For monetary officials, there’s the choice to be like Montagu Norman and what he thought of good practice at central banks. Silence.For years, the Chinese have tried it […]
Germany’s ifo Institute published June survey results for business confidence, reflecting the latest changes arising from the graduate, but fast, ‘normalization’ of economic activities. There are some improvements in forward expectations, set against v…
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Fed QE: $1.201B TIPS Purchase 2020-06-24 NY Fed treasury securities operations
For awhile there, a few weeks anyway, the 30-year US Treasury long bond had become the star of the mainstream show. Showered with its 15 minutes of fame, everyone loved how, for once, it seemed to agree with Jay Powell and the preferred narrative about the effectiveness of his technocracy. The idiocy of this attention […]