We just witnessed a global collapse in asset prices the likes we haven’t seen before. Not even in 2008 or 2000. All these prior beginnings of bear markets happened over time, relatively […]
It was as if global markets pulled elements from the 1994 bond market dislocation, 1997’s Asian Bubble collapses, the 1998 Russian/LTCM fiasco, and the 2008 market crash – and synthesized them for a week of ridiculous market instability and dysfunction…
Why is anyone surprised Christine Lagarde stepped in it? This is who she is, who she has been her entire career. The woman is a walking disaster, screwing up from one place only to be promoted into the next. Her Argentina debacle was merely the latest – before yesterday. In case you were distracted by […]
As fast as they have come down, they have gone up twice as fast overnight. Here’s what it means for today.
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.
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.
Dealers ended up taking in all of $78.4 billion, or about 16% of what was possible.
Nothing speaks of panic more than a gamble doubling down after a losing trade. And that’s what the Fe dis doing here. After seeing their emergency rate cut of 50bp going over […]
The Fed panicked today. It doesn’t know what to do because, as Jeff Snider pointed out, it has no clue what the disease is.
NO! It’s not the coronavirus, as the Fed claims, and litterally everyone believes. So the Fed’s prescription can’t work.
The Fed announced today that it would attempt to stuff $1.5 trillion in short term loans into Primary Dealer trading accounts over the next 3 weeks. OK, but will there be any takers?”
Rather than being confident about the effectiveness of their programs the central banks just don’t know what else to do. And it’s because they really don’t know what they are doing.