If you have to work overtime just to catch up to where you were supposed to be, you haven’t done a good job. It’s really that simple. And in the context of inflation, therefore legitimate economic growth as distinguished from fake booms, that’s really all bond yields are.The lower rates go, and the longer they stay lower, the more they [...]
Why the big deal about the Fed’s new grand strategy? For one thing, as noted yesterday, there’s that whole lost decade which policymakers finally have acknowledged. They’ve quite a lot of catching up to do, but have waited for the most inopportune moment to…basically do more of the same things that hadn’t accomplished anything other than lose an entire decade.Already [...]
———WHERE——— AlhambraTube: https://bit.ly/2Xp3roy 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 Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/2QpaDgh Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa SoundCloud: https://bit.ly/3l0yFfK PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr ———WHO——— 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 Emil Kalinowski, hairball-retching the USD:CNY to 15. Artwork by David Parkins, a Flying Circus surrealist. Podcast intro/outro is “By [...]
After thinking about it all day, I’m still not quite sure this isn’t a joke; a high-brow commitment of utterly brilliant performance art, the kind of Four-D masterpiece of hilarious deception that Andy Kaufman would’ve gone nuts over. I mean, it has to be, right?I’m talking, of course, about Jackson Hole and Jay Powell’s reportedly genius masterstroke. There’s a lot [...]
Tomorrow, the Treasury Department is going to announce the results of its latest bond auction. A truly massive one, $47 billion are being offered of CAH4’s notes dated August 31, 2020, maturing out in August 31, 2027. In other words, the belly of the belly, the 7s.We’ve already seen them drop for two note auctions this week, both equally sizable. [...]
———WHERE——— AlhambraTube: https://bit.ly/2Xp3roy 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 Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/2QpaDgh Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa SoundCloud: https://bit.ly/3l0yFfK PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr ———WHO——— 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 Emil Kalinowski, hairball-retching the USD:CNY to 15. Artwork by David Parkins, a Flying Circus surrealist. Podcast intro/outro is “By the Harbor” by Mhern at [...]
There’s one key piece of the “petroyuan” story which has gotten lost in the frenzied hype. While many get fixated, and make others fixate, on how RMB-for-oil was going to, or maybe even still will, destroy the dollar there’s been important, legitimate functions for Shanghai’s International Exchange which don’t involve, and never really did, replacing the reserve currency. It’s all [...]
OK, so not all of Germany’s bellwether business sector is gaga over Christine Lagarde. The particular subset of respondents who answer the survey from that country’s ZEW, if you recall, are absolutely nuts (about “stimulus.”) Other examinations have found rather less enthusiasm; still some degree of rising optimism, but nowhere near the exuberance displayed to the ZEW.The IFO’s sentiment surveys [...]
It took some doing, and some time, but Mexico has managed to bring its car production back up to more normal levels. For two months, there had been practically zero automaking in one of the biggest auto-producing nations. Getting back near where things left off, however, isn’t exactly a “V” shaped recovery; it’s only halfway.Two months of zero production are [...]
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