Federal Reserve/Monetary Policy

Eurodollar University’s Making Sense; Episode 94, Part 2: IMF ‘Prints’ SDRs The Same Way The Fed ‘Prints’ Bank Reserves
Eurodollar University’s Making Sense; Episode 94, Part 2: IMF ‘Prints’ SDRs The Same Way The Fed ‘Prints’ Bank Reserves

Eurodollar University’s Making Sense; Episode 94, Part 2: IMF ‘Prints’ SDRs The Same Way The Fed ‘Prints’ Bank Reserves

By Jeffrey P. Snider|2021-08-12T19:55:42-04:00August 12th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

94.2 BIGGEST EVER IMF SDR Allocation Means: little ———Ep 94.2 Summary———The IMF will 'print' $650 billion -- BILLION! -- in SDR-money to help with global liquidity. BIG numbers! BIG Deal! But we've heard this before from the IMF, like in 2009, their last BIGGEST EVER allocation, which was as effective as QE1, QE2, QE3, QE4, QE5, QE6... ———See It——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra [...]

PPI’s Near Ten Yet Treasury Custody

By Jeffrey P. Snider|2021-08-12T19:47:46-04:00August 12th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Two sets of indications, each heading in opposite directions. Or mainly at odds one from the other. To the inflationary side, the BLS reports producer prices that are still rising at substantial rates. The PPI representing the final demand for finished goods was up 9.35% year-over-year in July, slightly faster than the 9.19% posted in June. The latest a new [...]

CPI’s At Fives Yet Treasury Auctions

By Jeffrey P. Snider|2021-08-11T20:01:39-04:00August 11th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

A momentous day, for sure, but one lost in what would turn out to be a seemingly endless sea of them. October 8, 2008, right in the thick of the world’s first global financial crisis (how could it have been global, surely not subprime mortgages?) the Federal Reserve took center stage; or tried to. Having bungled Lehman, botched AIG, and [...]

Eurodollar University’s Making Sense; Episode 94, Part 1: Half Century of Dollar Confusion; Nixon didn’t kill Bretton Woods, twas already dead
Eurodollar University’s Making Sense; Episode 94, Part 1: Half Century of Dollar Confusion; Nixon didn’t kill Bretton Woods, twas already dead

Eurodollar University’s Making Sense; Episode 94, Part 1: Half Century of Dollar Confusion; Nixon didn’t kill Bretton Woods, twas already dead

By Jeffrey P. Snider|2021-08-11T16:22:09-04:00August 11th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

94.1 Nixon didn't kill Bretton Woods; twas already long dead ———Ep 94.1 Summary———Fifty years ago the "Nixon Shock" closed the 'Gold Window' on "international speculators" and killed the Bretton Woods gold exchange era. That's what we're told. Actually, Bretton Woods died a decade (or more!) earlier; it's just that we only noticed in 1971. ———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 [...]

Inflation More Than Hints ‘Transitory’

By Jeffrey P. Snider|2021-08-11T16:35:23-04:00August 11th, 2021|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For the first time in a couple of months, only a couple of months, no one will be able to say that inflation rates are the highest in…a very long time. According to the BLS and its latest CPI estimates for the month of July 2021, consumer prices are still well higher than they had been during July 2020 but [...]

A Real Example Of Price Imbalance

By Jeffrey P. Snider|2021-08-10T19:52:59-04:00August 10th, 2021|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s not just the trade data from individual countries. Take the WTO’s estimates which are derived from exports and imports going into or out of nearly all of them. These figures show that for all that recovery glory being printed up out of Uncle Sam’s checkbook, the American West Coast might be the only place where we can find anything [...]

Inflation Review: How The ‘Best Jobs Market In Decades’ Couldn’t Deliver

By Jeffrey P. Snider|2021-08-10T17:49:21-04:00August 10th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Money printing. Overheating. Going from an economy stuck in the mud to one rocketing ahead seemingly in the blink of an eye. Careless government officials steadfastly forecasting Goldilocks, surely whistling past the consumer price graveyard of stagflation misery.Long believed dead, that seventies Inflation Monster relit maybe by necessity but now on the loose lurking just beneath the surface, ready to [...]

Gold Slammed Early Asia In Trade With China Trade Then Inflation

By Jeffrey P. Snider|2021-08-09T19:52:52-04:00August 9th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

This one wasn’t nearly so perfect as the scramble for collateral had been a few Tuesdays ago. Last night’s, however, did have a sizable, visible contribution from the gold marketplace. That’s a significant tell even if it didn’t necessarily correlate by the minute with T-bills and other collateral numbers.In this instance if only because the gold “slam”, which was enormous, [...]

The Two Big Anniversaries of August: The Lost Decade (plus) Of The ‘Fiat’ Half Century
The Two Big Anniversaries of August: The Lost Decade (plus) Of The ‘Fiat’ Half Century

The Two Big Anniversaries of August: The Lost Decade (plus) Of The ‘Fiat’ Half Century

By Jeffrey P. Snider|2021-08-09T18:01:25-04:00August 9th, 2021|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

As my esteemed podcast co-host Emil Kalinowski has already mentioned (recurrently), we have, this year, two major anniversaries during these dog days of summer circled on our calendar. Today is, obviously, August 9 and for anyone the slightest familiar with the eurodollar story, that date is seared into their consciousness for as long as it will take to rebuild from [...]

Weekly Market Pulse: What Is Today’s New Normal?
Weekly Market Pulse: What Is Today’s New Normal?

Weekly Market Pulse: What Is Today’s New Normal?

By Joseph Y. Calhoun III|2021-08-09T08:29:06-04:00August 8th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

Remember "The New Normal"? Back in 2009, Bill Gross, the old bond king before Gundlach came along, penned a market commentary called "On the Course to a New Normal" which he said would be: "a period of time in which economies grow very slowly as opposed to growing like weeds, the way children do; in which profits are relatively static; [...]

Eurodollar University’s Making Sense; Episode 94, Part 2: IMF ‘Prints’ SDRs The Same Way The Fed ‘Prints’ Bank Reserves

Eurodollar University’s Making Sense; Episode 94, Part 1: Half Century of Dollar Confusion; Nixon didn’t kill Bretton Woods, twas already dead

The Two Big Anniversaries of August: The Lost Decade (plus) Of The ‘Fiat’ Half Century

Weekly Market Pulse: What Is Today’s New Normal?

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