One good, one bad and by the end more the latter since the former simply bucked the trend, almost alone as an outlier (among outliers). The day started out with European deflationary pressures putting a spike on UST and related sovereign bond prices then quickly substantiated when ADP reported (830am EDT) its estimates for private payrolls during July (this was [...]
Stop me if you’ve heard this before: About US$275 billion (about SDR 193 billion) of the new allocation will go to emerging markets and developing countries, including low-income countries. This from the IMF’s July 30, 2021, statement gleefully announcing its governing body(ies) has(d) agreed to a general allocation of $650 billion in SDR’s, biggest in history, according to existing quotas. [...]
Go early and go fast. This was the message FOMC Governor Christopher Waller wanted to send to the CNBC audience watching his interview yesterday on that channel. He was referring to the possible taper of QE6. In Waller’s view, if the US economy lives up to its current hype in the form of two more blowout jobs numbers, those would [...]
There’s another foreign angle to the grave misconceptions about what overseas financial entities are doing, and are made to do, with specifically US Treasury assets (and overall US$ assets more broadly). The American public, anyway, has wrongly been led to believe that those outside the US must hate the US and its dollar; at least its recklessly spendthrift government. None [...]
It’s been a little too on-the-nose. Claiming only a minimum level of dramatic license here, what we have continuing toward an uneasy future is a case of life imitating art (which imitated real life). We’ve all heard of Shakespeare’s famed soothsayer cautioning the arrogant Roman Emperor Caesar to watch his back on March 15. How about the 18th?Beware the Ides [...]
92.0: What FRONTLINE got SO wrong about the Fed LIVE!———Ep 92.0 Summary———FRONTLINE critiques the Fed for showering #BigBanks, #BigBusiness and #WallStreet with easy money, which reached neither the real #economy nor the vast majority of Americans. Yes to the latter, but no-no-no-no to the former. We did a 95-minute review of this episode and explain why the Fed is not [...]
Germany’s flash July 2021 inflation estimate came in hot yesterday, boosted mostly by comparisons to July 2020’s VAT-free situation. That country’s CPI is a robust sounding 3.8% year-over-year this month, though only 3.1% in its flash HICP terms. Despite Deutschland’s oversized contribution and influence, Eurostat reports today how for Europe as a whole there was a whole lot of little [...]
Of course inflation numbers, the PCE Deflators for June 2021, but first in the same report as those the BEA also released its various data on income and spending. In the former category, income, we’ll find a big reason why this deviation for consumer prices most likely ends up as temporary. And before we can get to that, big benchmark [...]
91: Repo Market Collateral Rumble Moving the Needle———Ep 91.0 Summary———Early-morning action in the repo market shows a musical chairs-like collateral scramble; it has the Fed's attention. But the Fed is blasé about it (i.e. 'too much cash'). Yet these collateral scrambles resemble what we saw in March 2020. ———See It——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 91.0 Topics——— 01:41 [...]
Was the GDP report good or bad? Six percent sure sounds terrific, given it wasn’t all that long ago two and a half or three was perceived a home run. As with any of these things, the ultimate judgement depends on more than single numbers because everything is relative. The fact is the BEA calculated a headline quarterly change which [...]
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