New York | In this issue of The Institutional Risk Analyst, we ponder how the actions or inaction of policy makers can create systemic events. In the next issue, we’ll dive into Q2 2019 earnings for banks and non-banks. Of interest, the Q2 edition of The IRA Bank Book is now on sale at our online store. News last week that the leadership of Deutsche Bank AG (DB) is planning to cut one out of six jobs at the bank, this in an effort to regain financial health, drew some positive attention from
Gold has topped out, for now. The mining stocks and gold look poised for corrections, but the long term outlook remains bullish. Among our trading…
On Mount Everest the Death Zone is the altitude above 8,000 meters above which climbers cannot survive for an extended period of time without oxygen (speak: artificial help). In the Death Zone […]
The 10-12 month cycle “second wind” rally continues. It could run until the originally projected time window of late July through late September. The cycle…
Is the market’s 100% probability for a July rate cut justifiable in the event of market exuberance in response to improved prospects for a successful completion of trade negotiations?
Here is the moral decay of America’s ruling elites boiled down to a single word.There are many reasons why Imperial Rome declined, but two primary causes that get relatively little attention are moral decay and soaring wealth inequality. The two a…
The way I look at the global economy, there are basically five different zones. The first is the US and the second is Europe. China might be third on this list but often second if not first in terms of what’s driving marginal changes. In behind those is Japan, not what it once was but […]
With the Democratic Party staging the first of its national debates, The New York Times found time to embed a reporter amongst a group of Trump voters in the swing state of Michigan. Situated to watch the show, and given how the election of 2016 turned out, the Rust Belt is on the minds of […]
According to the BLS, inflation in the category of “New Vehicles” has been practically non-existent the past 21 years.Longtime readers know I’ve long turned a skeptical gaze at official calculations of inflation, offering real-world analyses such as&nb…
Primary Dealers continue to hold historically massive net long fixed income positions. They have purchased those positions using debt, resulting in huge increases in leverage.…