The Last Holdout
True to form, whoever holds the government it is for them the best economy ever. It doesn’t matter political parties or otherwise affiliations. The rhetoric has become so unhinged that in the US former President [...]
Three Stages of Gold
For days after China shocked the world in August 2015, “devaluing” its currency seemingly out of nowhere, there was only confusion as to what had just happened. Going by nothing more than the mainstream media [...]
Canada Trade, Plain and Simple
The Bank of Canada held its benchmark overnight rate steady at its last meeting in early September. Like the Federal Reserve, Canada’s central bank has been “tightening.” The policy lever had been lifted four times [...]
Monthly Macro Monitor – October 2018
Stocks have stumbled into October with the S&P 500 down about 6% as I write this. The source of equity investors' angst is always hard to pinpoint and this is no exception but this correction [...]
COT Blue: A Short-term Path For Powell
On December 12, 2007, the Federal Reserve announced its entry into emergency “non-standard” policy measures. In a belated attempt to “address elevated pressures in short-term funding markets”, the US central bank would begin auctioning reserve [...]
Stop(ped) The (Printing) Press
Banks in China have to hoard liquidity ahead of their weeklong holidays, twice each year. The bigger of the two, related to the Chinese New Year, occurs in either January or February. The second, associated [...]
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