Where are the dealers? Policymakers at FRBNY would now like to know – even though it has been their one damn job for decades.
the takeaway from all of September should be the world’s two most important central banks each botching their “accommodations.”
Gold has popped but the 13 week cycle down phase could have a few more weeks to run. Here’s what needs to happen.
Last week’s volatility in the market for fed funds gave a lot of equity managers an opportunity to brush up on their understanding of the workings of the short-term money markets.
Is the stock market at Irving Fisher’s famous “permanently high plateau?” Is that plateau a launchpad for even higher prices? Or is it perhaps a cliff?
Yes, it’s an emergency. No, it won’t be temporary. With a trillion or more a year in new Treasury supply coming to market as far…
Technology, like natural selection, has no goal.When it comes to the impact of automation (robots, AI, etc.) on jobs, there are two schools of thought: one holds that technology has always created more and better jobs than it destroys, and this wi…
It’s a dirty job and someone has to do it. May as well be me and I’ll make the bear case here as difficult as it is. And I say difficult, because […]
Instability in the multi-trillion repurchase agreement marketplace generates intense interest. This crucial market for funding levered securities holdings is critical to the financial system’s “plumbing.”
It wasn’t one and done like Chairman Powell had initially indicated, this “midcycle adjustment” hits two. And that is it, at least if you believe the current calculations spit out by the Fed’s models.