Federal Reserve/Monetary Policy

Deflation Returns To Japan, Part 2

By |2020-11-20T19:23:16-05:00November 20th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Japan Finance Minister Taro Aso, who is also Deputy Prime Minister, caused a global stir of sorts back in early June when he appeared to express something like Japanese racial superiority at least with respect to how that country was handling the COVID pandemic. For a country with a population of more than 126 million, the case counts and mortality [...]

QQE To The Moon, *Deflation* Returns to Japan Anyway

By |2020-11-20T17:03:38-05:00November 20th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

If it shows up at the Federal Reserve, you can pretty much bet everything you own that it was tried out at the Bank of Japan first. And if it was the brilliant brainchild of someone at the BoJ, then you’re guaranteed it failed spectacularly. Which means, obviously, the “ideal” technocrats at the Fed intentionally copied something they knew had [...]

Eurodollar University’s Making Sense; Episode 35; Part 3: De-Globalization Gets A Huge Boost

By |2020-11-20T15:02:33-05:00November 20th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

———WHERE——— AlhambraTube: https://bit.ly/2Xp3royApple: https://apple.co/3czMcWN Deezer: https://bit.ly/3ndoVPE iHeart: https://ihr.fm/31jq7cI TuneIn: http://tun.in/pjT2Z Castro: https://bit.ly/30DMYza Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Pandora: https://pdora.co/2GQL3Qg Breaker: https://bit.ly/2CpHAFO Castbox: https://bit.ly/3fJR5xQ Podbean: https://bit.ly/2QpaDgh Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PlayerFM: https://bit.ly/3piLtjV PocketCast: https://pca.st/encarkdt SoundCloud: https://bit.ly/3l0yFfK ListenNotes: https://bit.ly/38xY7pb AmazonMusic: https://amzn.to/2UpEk2P PodcastAddict: https://bit.ly/2V39Xjr ———WHO——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiArt: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, target of CIA prank calls. Artwork by David Parkins. ———WHY——— 35.3 China's 5-Year Plan Abandons Globalization?!?Communists in Beijing have a better grasp of the world [...]

It Will Have To Be Our New Weekly Ritual

By |2020-11-19T19:48:11-05:00November 19th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It has become our new weekly ritual, though I dearly wish it was anything but. The Department of Labor’s Employment and Training Administration informs the country every Thursday just how many (or a reasonable approximation) of its citizens, formerly working, have filed for determination of unemployment insurance eligibility. Eight months after the initial eruption, we are nowhere near back to [...]

Speaking of Japan’s Attention

By |2020-11-18T19:44:17-05:00November 18th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Speaking of Japan, it’s not difficult to figure out why Japanese banks might seek some small pittance from diving back in the choppy waters of eurodollar redistribution. Conditions at home, particularly since the middle of last year (right when the big turn Tokyo dollars came up), have been, to put it mildly, way less than ideal. Politicians listening to central [...]

Redistributing A Shrinking Pie Is Nothing Like A Flood; Because There Was No Flood

By |2020-11-18T18:11:07-05:00November 18th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For the past couple months, the foreign official sector has been able to go back to buying (net) US Treasuries again. Not a lot, but it’s a change from the prior period when overseas central banks and governments would dependably dump tens of billions each month. Contrary to convention, this kind of buying corresponds to rising rates, the reflationary stuff. [...]

Eurodollar University’s Making Sense; Episode 35; Part 2: This Again

By |2020-11-18T15:30:39-05:00November 18th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

———WHERE———   AlhambraTube: https://bit.ly/2Xp3roy Apple: https://apple.co/3czMcWN   Deezer: https://bit.ly/3ndoVPE   iHeart: https://ihr.fm/31jq7cI   TuneIn: http://tun.in/pjT2Z   Castro: https://bit.ly/30DMYza   Google: https://bit.ly/3e2Z48M   Spotify: https://spoti.fi/3arP8mY   Pandora: https://pdora.co/2GQL3Qg   Breaker: https://bit.ly/2CpHAFO   Castbox: https://bit.ly/3fJR5xQ   Podbean: https://bit.ly/2QpaDgh   Stitcher: https://bit.ly/2C1M1GB   Overcast: https://bit.ly/2YyDsLa   PlayerFM: https://bit.ly/3piLtjV   PocketCast: https://pca.st/encarkdt   SoundCloud: https://bit.ly/3l0yFfK   ListenNotes: https://bit.ly/38xY7pb   AmazonMusic: https://amzn.to/2UpEk2P   PodcastAddict: https://bit.ly/2V39Xjr ———WHO——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiArt: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, addicted to Jolt Cola pop. [...]

Bursting A Few Bubbles; No, Not That One

By |2020-11-17T19:18:32-05:00November 17th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Presidential election was supposed to have been a big one. Yields were low, or high, based on how whichever expert or financial media article was interpreting the manner of trading in bond markets. You could take your pick; a “blue wave” was bad, as in BOND ROUT!!! due to inflation and potential for even more (how?) spendthrift ways in [...]

Extending the Summer Slowdown

By |2020-11-17T16:15:23-05:00November 17th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

A big splurge in September, and then not much more in October. While it would be consistent for many to focus on the former, instead there is much about the latter which, for once, is feeding growing concerns. Retail sales, American consumer spending on goods, has been the one (outside of economically insignificant housing) bright spot since summer. If it [...]

Six Point Nine Times Two Equals What It Had In Twenty Fourteen

By |2020-11-16T18:47:36-05:00November 16th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was a shock, total disbelief given how everyone, and I mean everyone, had penciled China in as the world’s go-to growth engine. If the global economy was ever going to get off the ground again following GFC1 more than a half a decade before, the Chinese had to get back to their precrisis “normal.” In 2014, the clock was [...]

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