Currencies

Eurodollar University’s Making MORE Sense; Episode 66: What Did St Louis Say About A Liquidity Trap?

By |2021-04-22T18:55:16-04:00April 22nd, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

66.0: LIVE! Reaction: Answering The St. Louis Fed ———Ep 66 Intro———In 2014 the St. Louis Federal Reserve noted that despite a MASSIVE increase in money the expected 4 to 6% inflation did not materialize. The researchers suggest it was a "liquidity trap". Yes, and no. But mostly no. ———SEE IT——— Twitter: https://twitter.com/izakaminskaTwitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———HEAR IT——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 66.0 Topics——— 00:05 [...]

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Eurodollar University’s Making Sense; Episode 65; Part 3: Again and Again, Only Feb 25

By |2021-04-21T19:11:24-04:00April 21st, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

65.3 Did Death come for US Treasuries on February 25th?———Part 3 Summary———On February 23rd the US Treasury 2-year auction put in some record-low bids. But then, on February 24th, the snowflake (or feather, or spark... maybe all three at once) came, so that by the 25th perceptions had reversed (melo)dramatically. Had Death come for US Treasuries? ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil [...]

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The QEnundrum

By |2021-04-21T19:08:08-04:00April 21st, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The US Treasury Department announced today that it has completed an auction of 20-year bonds. Quite unlike the one 7s auction – you know, that one – this particular bond sale was positively uninteresting. Like all the rest of the bills, notes, and bonds since February 25, there an overwhelming number of bank dealers and other participants some of whom [...]

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Eurodollar University’s Making Sense; Episode 65; Part 2: Is Jay Powell Right?

By |2021-04-20T18:53:58-04:00April 20th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

65.2 The Fed is right about inflation (this time)———Part 2 Summary———US producer prices surged in the month of March. But Federal Reserve chairman Jay Powell said they won't last, that they are "transitory". HE IS RIGHT! But the reason he gives - the covo - is not correct. No, the reason is the same one since 2007: the global, silent [...]

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The Durable Hibernating of Vigilantism

By |2021-04-20T18:49:58-04:00April 20th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

When their paper came out in January 2010, Carmen Reinhart and Kenneth Rogoff put a number on bond vigilantism as it had been known in prior history. The idea behind investor fickleness was simple and intuitive: profligate governments who finance their ill spending ways by borrowing will literally end up paying the price once the exceed common sense. And when [...]

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A Glut of February’s

By |2021-04-19T20:06:07-04:00April 19th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Ben Bernanke saw it even before he took over from Alan Greenspan. Like his “maestro”, however, Bernanke didn’t really know what to make of it. So, while early in 2005 Greenspan told of his version as an interest rate “conundrum”, his successor a month later tried to add more dimensions and details to the same puzzle via recognizing its clear, [...]

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Neither Keynes, Trump, Pumps Nor Priming

By |2021-04-19T17:24:34-04:00April 19th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Then-President Trump was eager to talk in May 2017. Having been elected in 2016 by giving voice to what he called the “fake” unemployment rate on the campaign trail, and therefore mobilizing millions of the disaffected uncounted by that official ratio’s official definitions, it was enough to put him just barely over the top. To continue with the agenda, to [...]

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Eurodollar University’s Making Sense; Episode 65; Part 1: Carter Bonds, Roosa Certificates, And Dollar Down Daze

By |2021-04-19T15:21:32-04:00April 19th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

65.1 This is what caused the 1970s Dollar Devaluation———Part 1 Summary———US President Jimmy Carter told the nation that the US dollar's devaluation "is clearly not warranted by the fundamental economic situation". In fact, it was unreservedly deserved as the necessary consequence of prolonged official incompetence. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 65.1 Topics——— 01:08 Unlike the 2010s, [...]

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Weekly Market Pulse: The Market Did What??!!

By |2021-04-19T07:11:25-04:00April 18th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

One of the most common complaints I hear about the markets is that they are "divorced from reality", that they aren't acting as the current economic data would seem to dictate. I've been in this business for 30 years and I think I first heard that in year one. Or maybe even before I decided to lose my mind and [...]

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The Consensus

By |2021-04-16T19:51:39-04:00April 16th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

With government cash being shoveled into personal and corporate bank accounts, US consumers have reported that they are being more optimistic about the state of the economy. Before that, they went on a spending binge as stated unequivocally by historic retail sales figures. Why, then, so much higher spending than improved happiness and certainty while going about it?The University of [...]

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