Currencies

Eurodollar University’s Making Sense; Episode 22, Part 1: Ben Bernanke Isn’t Dumb
Eurodollar University’s Making Sense; Episode 22, Part 1: Ben Bernanke Isn’t Dumb

Eurodollar University’s Making Sense; Episode 22, Part 1: Ben Bernanke Isn’t Dumb

By Jeffrey P. Snider|2020-08-17T16:33:58-04:00August 17th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

———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/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa 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, trying to punch out of the box. Artwork by David Parkins, the thinking man's Auguste Rodin. ———HOW——— Central bankers are [...]

Inflation Hysteria 2, China Style

By Jeffrey P. Snider|2020-08-14T20:03:49-04:00August 14th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Forget scripted television. If you want Game of Thrones-style palace intrigue, you can do no better than Beijing in 2020. There are all sorts of rumors floating around, few of which can ever get confirmed. It’s not that there are rumors but rather how many of them, and how they don’t seem to be stamped out with the usual regularity [...]

It Doesn’t Just Disappear From the “V” Side

By Jeffrey P. Snider|2020-08-14T17:17:31-04:00August 14th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Imagine you are locked in your home and can only go outside of it to purchase the bare necessities (this would’ve sounded ridiculous in every year before 2019). For simplicity’s sake, let’s assume that you normally spend $100 every month, half of that on the basics. Thus, for the month preceding this lockdown you’d have laid out the full hundred [...]

Eurodollar University’s Making Sense; Episode 21, Part 3: Actually Looking in the $$ Toolkit Because Someday There’ll Be A Real One
Eurodollar University’s Making Sense; Episode 21, Part 3: Actually Looking in the $$ Toolkit Because Someday There’ll Be A Real One

Eurodollar University’s Making Sense; Episode 21, Part 3: Actually Looking in the $$ Toolkit Because Someday There’ll Be A Real One

By Jeffrey P. Snider|2020-08-14T15:30:19-04:00August 14th, 2020|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

———-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/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa 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. Artwork by David Parkins, operating with palette knives, color charts, painting palettes, tube wringers and paint rollers. ———-HOW———- New PMI scores for [...]

You Need NIRP But Because NIRP You Then Need To Lessen NIRP; Or, Just Trust US, This Stuff Just Works

By Jeffrey P. Snider|2020-08-13T19:29:59-04:00August 13th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Bank of Japan has been paying Japanese banks a supplement on loans they collateralize with the central bank. This program is not new, announced first during the depths of COVID earlier this year, but its growing popularity has demanded attention. In addition to this market “support”, in April BoJ added a bonus of 10 bps to each pledged loan.The [...]

Fama 2: No Inflation For Old Central Banks

By Jeffrey P. Snider|2020-08-12T20:01:04-04:00August 12th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

The Bureau of Labor Statistics reported that the core CPI in July 2020 jumped by the most (+0.62%) in almost thirty years. After having dropped month-over-month for three months in a row for the first time in its history, it has posted back to back gains the latest of which pushing the index back above its February level. Congratulations to [...]

Eugene Fama’s Efficient View of Stimulus Porn

By Jeffrey P. Snider|2020-08-12T16:45:11-04:00August 12th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

The key word in the whole thing is “bias.” For a very long time, people working in and around the finance industry have sought to gain tremendous advantages. No explanation for the motive is required. Charts, waves, technical (sounding) analysis and so on. To many dispassionate observers there was always this sort of improper religious fervor to it rather than [...]

Inflation Hysteria 2: Because…Reasons

By Jeffrey P. Snider|2020-08-11T19:41:15-04:00August 11th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

Back in July 2018, even before, we began hearing (constantly) about how the yield curve and especially the 10-year note was no longer a reliable indicator. It just couldn’t have been. Why? Jay Powell, of course. Not just the Fed Chairman but also every mainstream Economist and highlighted Bond King, all of whom were insistent that the economy was accelerating [...]

Science of Sentiment: Zooming Expectations Wonder

By Jeffrey P. Snider|2020-08-11T15:26:12-04:00August 11th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It had been an unusually heated gathering, one marked by temper tantrums and often publicly expressed rancor. Slamming tables, undiplomatic rudeness. Europe’s leaders had been brought together by the uncomfortable even dangerous fact that the economic dislocation they’ve put their countries through is going to sustain enormously negative pressures all throughout them. What would a “united” European system do to [...]

A Second JOLTS

By Jeffrey P. Snider|2020-08-10T18:27:37-04:00August 10th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

What happens when we are stunned and dazed? We filter out the noise to focus on the bare basics by getting back to our instincts, acting reflexively based upon our deeply held beliefs and especially training. When faced with a crisis and there’s no time to really think, shorthand will have to suffice. That’s what was so odd about 1930, [...]

Eurodollar University’s Making Sense; Episode 22, Part 1: Ben Bernanke Isn’t Dumb

Eurodollar University’s Making Sense; Episode 21, Part 3: Actually Looking in the $$ Toolkit Because Someday There’ll Be A Real One

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