How Do You Spell R-E-P-O With C-L-O?
There’s trouble brewing in a particular sector of the corporate bond market. It’s not really new trouble, merely the continuation of doubts and angst that have existed for more than a year already. What’s different [...]
QE’s and Rate Cuts: Two Very Different Sets of Sentiment Drawn From Them
The stock market’s dichotomy grows ever wider. On the one side, record high prices which are being set by the expectations of a trade deal plus renewed worldwide “stimulus.” Sure, officials everywhere were late to [...]
SPECIAL REPORT: It Was The Eurodollars All Along
The Global Financial Crisis of 2008 was felt far and wide, in places with no connection at all to the US mortgage market. That is, or should be, a clue that the crisis wasn’t really [...]
For Labor And Recession, The Bad One
There’s a couple of different ways that Unit Labor Costs can rise. Or even surge. The first is the good way, the one we all want to see because it is consistent with the idea [...]
The Real Boom Potential
For the last five years Larry Summers has called it secular stagnation. It’s the right general idea as far as the result, if totally wrong as to its cause. Alvin Hansen, who first coined the [...]
The Sudden Need For A Trade Deal
Talk of trade deals is everywhere. Markets can’t get enough of it, even the here-to-fore pessimistic bond complex. Rates have backed up as a few whispers of BOND ROUT!!! reappear from their one-year slumber. If [...]
A Perfect Example of the Euro$ Squeeze
Germany’s vast industrial sector continued in the tank in September. According to new estimates from deStatis, that country’s government agency responsible for maintaining economic data, Industrial Production dropped by another 4% year-over-year during the month [...]
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