Well, they’ve done it again. The Fed has once again managed to erase the larger market pain. This time it was not the standard correction that was erased, this time they erased […]
The line items of the Fed’s Pandemic Panic Emergency Programs get a lot of media and analyst attention these days. What a waste of time and energy. Let me explain why.
Sell in May and go away.
As the old models break down, opportunities for new models will arise.Unstable, unsustainable systems can lull observers into a comfy complacency as instability increases beneath a thin veneer of apparent stability.That’s the systemic story of the…
Updating charts for COVID19 for Russia:Noteworthy: Russia cases and death counts are now breaking out of the prior trend, both to the upside.
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: $2.100B Coupon Purchase 2020-06-03 NY Fed treasury securities operations
Updating my charts comparing EU27 to U.S. experiences in the pandemic:
Updating through June 2, 2020 ECDC data:Daily counts are accelerating on-trend with no trend inversion and close to historical peaks:Death counts are lagging daily counts, but persistent decline in counts over the previous weeks has now been arrested:W…
Time may not heal all wounds, after all. One thing it does do is clarify. There was a time not all that long ago when 20 million sounded absolutely enormous. How quaint today. At the end of March, initial jobless claims in the US were surpassing that unthinkable level leaving everyone to hope it wouldn’t […]