Yet Another Reminder: Listen To Xi Spell It All Out
I keep saying to take them at their word. For years now, China’s top Communists have been upfront and honest in a way that compared to what goes on in Western nominally-free democracies would be [...]
Payrolls Everywhere Else
At first glance, the numbers weren’t bad. Maybe even borderline OK. The headline payroll figure nearly doubled consensus estimates, even better when taking into account only private payrolls even after ADP earlier this week had [...]
Eurodollar University’s Making MORE Sense; Episode 53: What Did They Say?
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 [...]
TIPS Tipping Over, But Not That Way
There is precedence for this, though not to this extent; it has reached a record. And when it happened before, oil prices were right in the middle of it, too. The 5-year TIPS breakeven rate [...]
Eurodollar University’s Making Sense; Episode 52; Part 3: Deep In the Frozen Heart Of Scorching Texas Oil
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 [...]
Reflation Amplitude, Important, What About Frequency?
It’s understandable, even natural to focus on the amplitude of this or any BOND ROUT!!! and make comparisons to past reflationary trends on that basis alone. But what about frequency? By that, I don’t mean [...]
Almost A Full Year of Tomorrows
The ISM reported its manufacturing index at highs on Monday, then today releases its non-manufacturing headline falling sharply. The result is an odd appendage to post-2008 history where these sentiment indicators are concerned; they are [...]
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