US Commercial Bank data had been sending warning signals that all was not well for at least a year before the stock market crashed. I chronicled that in these reports.
The warning signals came to fruition in February and March.
But then the Fed stepped into the breach and went crazy. What the Fed did, and is still doing, went beyond “unprecedented.” It was nuts.
Perspective.
Dicsucs.
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: $1.000B TIPSPurchase 2020-06-09 NYFed treasury securities operations
Fed QE $1.750B Coupon Purchase 2020-06-09 NY Fed treasury securities operations
President Trump is mocking Warren Buffett for having sold his airline stocks, Druckenmiller crying on TV about having been humbled by the market while every Robinhood retail trader piling into ever more […]
Students in my course Applied Investment and Trading in TCD would be familiar with the market impact of the differential bid-ask spreads in intraday trading. For those who might have forgotten, and those who did not take my course, here is the reminder…
“You pass the Helmsley Palace, the shell of old New York transparently veiling the hideous erection of a real estate baron…” Jay MacInerney Bright Lights,…
Gold’s intermediate term outlook is back in a familiar stance. We’re not too worried about it. Of course, things can change.