Commodities

Eurodollar University’s Making Sense; Episode 43; Part 1: Inflation Per the Suasion

By |2021-01-25T14:35:23-05:00January 25th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

43.1 The Fed doesn't do Money so it offers SuasionCentral banks cannot define, identify, measure or map modern money. And they haven't been able to since the 1970s. So instead they offer "moral suasion". That's a fancy word for threats, posturing and coercion. That's all fine and well until the global economy requires money. [Emil's Summary] As many listeners have [...]

Eurodollar University’s Making Sense; Episode 42; Part 2: The Other Side of TIPS

By |2021-01-22T16:50:02-05:00January 22nd, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

42.2 Real Yields Near Record Lows say Economy's AwfulReal yields recently hit RECORD lows. Yes, inflation is rising but is that due to the real economy expanding?  Real yields say, "No!". Real yields say, 'The real economy is AWFUL!' So what is driving inflation expectations higher? Fuel. Oil prices are up - but the economy isn't. [Emil’s Summary] A recent [...]

Eurodollar University’s Making Sense; Episode 42; Part 1: Doubts Keep Blooming About This QE Business

By |2021-01-20T15:11:59-05:00January 20th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

42.1 WSJ Columnist asks Fed: 'What the...?' Wall Street Journal columnist Andy Kessler recently spoke with Jeff Snider about central banks and monetary policy. He ended a recent column with, "The least the Fed can do is get out of the way. End QE now". [Emil's Summary] A recent Hidden Forces podcast with Demetri Kofinas featured professor Kevin Vallier and [...]

Conventional Wisdom Is Nothing of The Sort

By |2021-01-19T11:31:10-05:00January 18th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Taxes/Fiscal Policy|

If you had known in October all that would transpire over the next 2 ½ months, how would you have positioned your portfolio? The conventional wisdom before the election was that a Biden win would be negative for stocks because he has promised to raise taxes and specifically corporate taxes. In 2016, conventional wisdom was that a Trump victory would [...]

If the Fed’s Not In Consumer Prices, Then How About Producer Prices?

By |2021-01-15T19:38:00-05:00January 15th, 2021|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s not just that there isn’t much inflation evident in consumer prices. Rather, it’s a pretty big deal given the deluge of so much “money printing” this year, begun three-quarters of a year before, that consumer prices are increasing at some of the slowest rates in the data. Trillions in bank reserves, sure, but actual money can only be missing. [...]

Episode 41; Part 2: Professor Copper’s Got Other Courses To Teach

By |2021-01-13T17:50:52-05:00January 13th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

41.2 Copper Prices Signal Inflation (or something else?) [Emil’s Summary] Mary Toft had delivered a litter of rabbits – that was the news that reached the court of King George I in 1726. Obstetrician John Howard arrived at Toft’s bedside in September where he was presented with several animal parts, ostensibly from the supernatural womb. In October, she delivered nine [...]

Episode 41; Part 1: At Times, Interest Rates *Do* Go Up

By |2021-01-11T16:37:34-05:00January 11th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

41.1 Has the US Treasury Bond Rout Begun? (No.) [Emil's Summary] Mary Toft had delivered a litter of rabbits - that was the news that reached the court of King George I in 1726. Obstetrician John Howard arrived at Toft's bedside in September where he was presented with several animal parts, ostensibly from the supernatural womb. In October, she delivered [...]

Inflation, Reflation, Or Something Else?

By |2021-01-04T19:25:12-05:00January 4th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Is there a difference between inflation or reflation, and whatever this is? Not mere semantics, it may be everything for what the future ultimately looks like. Yet, the only one ever talked about is the first, as if a foregone conclusion. Why?We’re conditioned to believe in only one or the other, recession still contracting or otherwise total recovery, on top [...]

The Doctor Is In?

By |2020-12-30T18:00:21-05:00December 30th, 2020|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Gold’s not buying. Neither is the bond market. Inflation Hysteria #2 has so much less to it than #1 in 2017-18 ever did. But this one isn’t completely empty. There are some asset classes which have been absolutely on fire thus seemingly consistent with the “money printing” excesses of Fed and feds. Investors fearing for currency “debasement” and fiscal breakdown [...]

Episode 40; Part 3: Inflation on TV But Not In Real Life

By |2020-12-28T15:02:48-05:00December 28th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

PROGRAMMING NOTE: Episode 40 will be the final one for 2020. Episode 41 will pick back up in early January, ~10th. ———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, a jerk. Artwork by [...]

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