In July we saw that the market was at a record overbought extreme versus liquidity. I warned then that the bullishness we saw earlier this…
After having screwed everything up from August 2007 forward and left the world in this precarious state, central bankers have performed one further despicable disservice.
Having destroyed discipline, central banks have no way out of the corner they’ve painted us into. It was such a wonderful fantasy:
Gold is the ultimate hedge, but it is far from perfect.
Where does it end, how low can yields go on this run or are there signs of imminent reversal.
Earlier this year, Chinese authorities reduced the VAT tax the government charges auto manufacturers. The results were immediate, and fleeting.
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.
The Chicago Fed’s National Activity Index (NAI) fell to -0.36 in July. That’s down from a +0.10 in June. By itself, the change from positive to negative tells us very little, as does the absolute level below zero. What’s interesting to note about this one measure is the average but more so its rate of […]
After trading overnight in Asia, Japan’s government bond market is within a hair’s breadth of setting new record lows. The 10-year JGB is within a basis point and a fraction of one while the 5-year JGB has only 2 bps to reach. It otherwise seems at odds with the mainstream narrative at least where Japan’s […]
Markets blow up on Friday on a series of tweets, markets jam higher on the pronouncement of dubious phone calls on Monday. The rapid back and forth has many heads spinning and […]
