Bonds

So Long As The Bucket Is Full of Holes, Treasury Demand Comes First

By |2020-07-13T16:40:50-04:00July 13th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Foreigners are dumping their Treasuries! The Fed is monetizing the debt! The federal government has gone insane! Mass fiscal hysteria!Yet, yields on these things are comfortably within sight of their record lows as prices have never been higher. Supply is very obviously off-the-charts, but so, too, must be demand. Every time we hear about “too many” Treasuries the market yet [...]

Eurodollar University’s Making Sense; Episode 17: From Bond Yields to Communism, Don’t Call It A Comeback

By |2020-07-13T14:47:42-04:00July 13th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

AlhambraTube: https://youtu.be/blCLdWwl8gIApple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr   Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emilulous.  Artwork by David 'Straight Outta London' Parkins.  Podcast intro and outro is "Callin Shots" by Damma Beatz at Epidemic Sound. [Emil's Summary] Is the post-2008 economic 'boom' proving Marxism? Would [...]

Sign of the Times: Gold Has Its Most Vocal Proponents Helping Sell Jay Powell’s Fiction

By |2020-07-10T19:02:28-04:00July 10th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Gold at $1800 an ounce has a lot of people you wouldn’t expect lining up in Jay Powell’s camp. What else could it be, right? Bullion is an inflation hedge, that’s what everyone says. Therefore, quite obviously, skyrocketing gold must indicate the dollar destruction gold aficionados are always predicting. Unbeknownst to them, and likely to agitate the hell out of [...]

Yield Caps = Toddlers

By |2020-07-08T17:42:59-04:00July 8th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Federal Reserve has cut its QE purchasing pace, and yet the US Treasury Department doesn’t seem hampered by a shortage of bidders for its record-setting note auctions. Far from “too many” Treasuries, prices are once more unequivocal how there aren’t enough. With or without Powell, the auction record is clear and, unlike those constantly talking up the BOND ROUT!!! [...]

Don’t Low Rates On Junk Bonds Mean Fed-fueled Credit Bubble? No. Precisely The Opposite.

By |2020-07-07T19:37:31-04:00July 7th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Despite what we’ve all been taught, and what gets reinforced in the media, it’s not really that difficult to get people to see the interest rate fallacy at least where it all starts. Central bankers say that low rates are stimulus when this runs contrary to every bit of historical experience as well as evidence. Yes, they are lying to [...]

Eurodollar University’s Making Sense; Episode 16: What Is…Eurodollar Mailbag?

By |2020-07-06T15:45:28-04:00July 6th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

AlhambraTube: https://youtu.be/6cSQvYa3E8I   Apple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr   Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/   [Emil's Summary]  Jeff Snider answers your questions about central banks, inflation, measuring money, private banks... and potpourri? A Jeopardy!-style mailbag show with the 'Cliff Clavin of the Eurodollar'.After half-a-century, some 8,000 episodes and numerous tournament of champions the American television game [...]

Monthly Market Monitor – July 2020

By |2020-07-06T10:57:52-04:00July 6th, 2020|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

Most Long-Term Trends Have Not Changed A lot has changed over the last 4 months since the COVID virus started to impact the global economy. Asia was infected first with China at ground zero. Their economy succumbed first with a large part of the country shut down to a degree that can only be accomplished in an authoritarian regime. The [...]

Yield Cap History Is Rock Solid, Just Not At All In The Way They Are Telling You

By |2020-07-01T20:06:43-04:00July 1st, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

To hear the media talk, you’d think that the most pressing issue in the world right now is the dangerous prospect for rising interest rates. Rising. Its members are given this idea from the one source they rely upon no matter how many times that same source lets them down and leaves them in the lurch looking so very foolish [...]

Swap Mean

By |2020-06-26T19:28:37-04:00June 26th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Little noticed at the time, October 2012 was quite the roller coaster. Most anyone cared about was QE3, the wonderful, awesome flood of liquidity kindly wise-man Chairman Bernanke had restarted for reasons that didn’t seem so important. Did it matter to the public that the repo market went haywire late in that very same month, at the very same time [...]