Commodities

Eurodollar University’s Making MORE Sense; Episode 53: What Did They Say?

By Jeffrey P. Snider|2021-03-05T16:06:19-05:00March 5th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

53.0 Inflation? Depends on Where You Look for ItShould speculative ventures be included in calculations of inflation? What about productive investment? Housing? All transactions? Or just consumer prices? Jeff Snider reacts to a Wall Street Journal opinion column. ———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, not spending money on haircuts. Art by Winterfell [...]

Eurodollar University’s Making Sense; Episode 52; Part 3: Deep In the Frozen Heart Of Scorching Texas Oil

By Jeffrey P. Snider|2021-03-04T18:36:03-05:00March 4th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

52.3 US Oil Market Update + Texas Power Credit Crisis?What does the oil market (production, demand, inventory) in the USA tell us about the economic recovery in early 2021? Also, is a power market credit crisis in Texas causing a national run on banking-system collateral? [Emil’s Summary] The theme of Making Sense Episode 52 is how an environment reacts to an [...]

Eurodollar University’s Making Sense; Episode 52; Part 2: Another Twist In Twisting Yield Curve

By Jeffrey P. Snider|2021-03-03T16:14:05-05:00March 3rd, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

52.2 Taper Tantrum II: Yield Curve Twists, Badly?The US yield curve has twisted as Bill yields fall and Bond yields rise. We review a similar situation in 2013 popularly known as "the Taper Tantrum", WHICH WAS NOT A TAPER TANTRUM! Then - like now - a collateral scramble in Bills and a relief sell-off in Bonds. [Emil’s Summary] The theme of [...]

Eurodollar University’s Making Sense; Episode 52; Part 1: Not All Operational Errors Are The Same

By Jeffrey P. Snider|2021-03-01T14:43:34-05:00March 1st, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

52.1 Fedwire Breaks: Anomaly or Trigger?Fedwire, the interbank system that transmits billions between 9,000-plus members, broke on Wednesday. The Fed says, "operational error" implying mere technical trivia - an anomaly. Why do some breaks stay mere anomalies while others trigger volatile, systemic consequences? [Emil's Summary] The theme of Making Sense Episode 52 is how an environment reacts to an anomaly. [...]

Eurodollar University’s Making MORE Sense; Episode 51: Reading Around

By Jeffrey P. Snider|2021-03-01T14:43:08-05:00March 1st, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

DISCLAIMER: The opinions expressed within the content are solely the author’s and do not reflect the opinions and beliefs of the website or its affiliates. 51.0 Reading Around: Pettis On Tariffs and US Jobs Economic historian Michael Pettis' essay on why an "obsolete understanding of trade flows ends up pointing trade policymakers in the wrong direction." A reading, by Emil [...]

Weekly Market Pulse – The Message Of The Market

By Joseph Y. Calhoun III|2021-02-28T19:33:15-05:00February 28th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Stocks|

I was told many years ago when I started in this business that it wasn't my job to predict the future. Our job as investors is to properly and accurately interpret the present. I was also told that wasn't as easy as it sounded and the current consensus about the state of the world was probably, almost certainly, almost always, [...]

Eurodollar University’s Making MORE Sense; Episode 48: Reading Around

By Jeffrey P. Snider|2021-02-26T18:06:23-05:00February 26th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

DISCLAIMER: The opinions expressed within the content are solely the author's and do not reflect the opinions and beliefs of the website or its affiliates. 48.0 Reading Around: Myrmikan on System-Critical Short Squeezes Financial historian Daniel Oliver's essay on the systemic consequence of the 1907 short squeeze on United Copper Company and lessons for today. A reading, by Emil Kalinowski. [...]

Eurodollar University’s Making MORE Sense; Episode 50: What Did They Say?

By Jeffrey P. Snider|2021-02-26T18:00:02-05:00February 26th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

50.0 Why Economists Kept Getting the Policies WrongJeff Snider reacts to two recent articles: "Bond yields are not good predictors of inflation" (Peterson Institute for International Economics) and "Why economists kept getting the policies wrong" (Financial Times). ———SPONSOR——— But first, this from Eurodollar Enterprises! The motion picture event of the summer: (Con)Tango & Cash. When an international smuggling ring uses the [...]

Eurodollar University’s Making Sense; Episode 49; Part 3: Consuming Consumer Data

By Jeffrey P. Snider|2021-02-25T18:58:38-05:00February 25th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

49.3 Week 48 of 'Record' Jobless ClaimsLearn how to reconcile a positive surge in retail sales with a nightmare string of 'record' jobless claims and lousy sentiment reported by the University of Michigan consumer survey. Perhaps pent up demand? Maybe. An unusual, poorly explained seasonal adjustment boost? Maybe too. ———SPONSOR——— But first, this from Eurodollar Enterprises! The motion picture event [...]

Hot Oil, Cold Weather, Uncle Sam’s Green

By Jeffrey P. Snider|2021-02-24T19:24:35-05:00February 24th, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For a couple of weeks, the $600 payments from Uncle Sam seemed to have found their way into the tanks of Americans driving their automobiles a little bit more than they had. According to the US Energy Information Administration (EIA), the total amount of gasoline “supplied” by the domestic marketplace reached 8.4 mbpd the second week of February. Like retail [...]

Eurodollar University’s Making MORE Sense; Episode 53: What Did They Say?

Eurodollar University’s Making Sense; Episode 52; Part 3: Deep In the Frozen Heart Of Scorching Texas Oil

Eurodollar University’s Making Sense; Episode 52; Part 2: Another Twist In Twisting Yield Curve

Eurodollar University’s Making Sense; Episode 52; Part 1: Not All Operational Errors Are The Same

Eurodollar University’s Making MORE Sense; Episode 51: Reading Around

Weekly Market Pulse – The Message Of The Market

Eurodollar University’s Making MORE Sense; Episode 48: Reading Around

Eurodollar University’s Making MORE Sense; Episode 50: What Did They Say?

Eurodollar University’s Making Sense; Episode 49; Part 3: Consuming Consumer Data

Hot Oil, Cold Weather, Uncle Sam’s Green

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