Market & Economic Analysis

"Study the past if you would devine the future." - Confucius

Eurodollar University’s Making Sense; Episode 84, Part 2: QE Does NOT Control Yields

84.2 Quantitative Easing: A False God———Ep 84.2 Summary———How is it possible 14 years of data shows the Federal Reserve FLAILING ABOUT trying to raise or lower bond yields with MASSIVE purchases of securities via quantitative easing? Because they were 'massive'. The CENTRAL BANK IS NOT CENTRAL to money. The bond market is. ———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 [...]

By |2021-06-30T18:25:18-04:00June 30th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|
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Even Less Chinese Growth, More Red Genes

China’s Cultural Revolution itself was, after all, an attempt to reconcile against factions threatening from within the ailing country’s rudderless position of that time. Red Guards were formed especially from young students who were as equally zealous ideologues as well as frightened being exposed and left on the wrong side of unfolding history.It's always students in these Communist “peasant” uprisings [...]

By |2021-06-30T18:18:08-04:00June 30th, 2021|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|
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Eurodollar University’s Making Sense; Episode 84, Part 1: RRP, RRP, RRP, RRP, RRP, RRP

84.1 Fed Reverse Repo Record - Why the Big Deal?!———Ep 84.1 Summary———After the Federal Reserve raised the return on one of its bank programs, a record $756 billion flowed into the central bank’s reverse repo facility. Jerome Powel said, "We're not concerned." He should be. Like the Fed should've been in 2017 when something similar happened. A warning. Again. Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra [...]

By |2021-06-29T18:23:09-04:00June 29th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|
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A Clear Balance of Global Inflation Factors

Back at the end of May, Germany’s statistical accounting agency (deStatis) added another one to the inflationary inferno raging across the mainstream media. According to its flash calculations, German consumer prices last month had increased by the fastest rate in 13 years. Even using the European “harmonized” methodology (Harmonized Index of Consumer Prices, or HICP), inflation had reached 2.4% year-over-year [...]

By |2021-06-29T18:16:25-04:00June 29th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|
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Inflation Isn’t Just The Outlier, The Inflation In It Is, Too

Following the same recent pattern as the BLS and its CPI, the Bureau of Economic Analysis’s (BEA) PCE Deflator ran up hotter in May 2021 than its already high increase during April. The latter’s headline consumer basket rose 3.91% year-over-year, its fastest pace since August 2008. The core rate, which excludes food and energy prices, accelerated to 3.39% from 3.11%, [...]

By |2021-06-28T16:30:15-04:00June 28th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|
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Weekly Market Pulse: 1984

Freedom is the freedom to say that two plus two make four. If that is granted, all else follows. George Orwell, 1984 I have said many times and believe deeply that our job as investors is not to predict the future but merely to interpret the present as accurately as we can. I've also said and believe deeply that doing [...]

By |2021-06-28T07:38:58-04:00June 27th, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Stocks|
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Eurodollar University’s Making Sense; Episode 82, Part 3: What Is A Central Bank, And Why Isn’t The Fed One?

82.3 The Federal Reserve is NOT a Central Bank Pt. 3———Ep 82.3 Summary———Central banks inject liquidity into money markets to PREVENT a crisis. Let us review the last 14 years: Global Financial Crisis I (2008), European Sovereign Debt Crisis (2011), Chinese Reserve Crisis (2015), Global Financial Crisis II (2020). Not too good. Do they know what they're doing? ———See It———– [...]

By |2021-06-22T19:08:13-04:00June 22nd, 2021|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|
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No Reflation Here: PBOC Balance Sheet Update May (Same As April)

For the month of May 2021, China’s central bank reported almost exactly the same as it had in April (or March). In the case of foreign assets, as has become standard, nearly identical. Despite reflation dollar flows being described and talked about, they still haven’t reached the official PBOC balance sheet which after so many months of this simply reduces [...]

By |2021-06-22T19:03:14-04:00June 22nd, 2021|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|
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Sure Looks Like Supply Factors

If it walks like a duck and quacks like a duck, then it must be inflationary overheating. Or not? As more time passes and the situation further evolves, the more these recent price deviations conform to the supply shock scenario rather than a truly robust economy showing no signs of slowing down. There are any number of those currently being [...]

By |2021-06-22T16:50:37-04:00June 22nd, 2021|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|
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