Eurodollar University: Dark Money
Deutsche Bank wasn’t the only global institution under the gun of the US Justice Department. While the German bank settled for a record fine earlier this year, RBS was also hit. Theirs was an eye [...]
Alternating Durable Goods, Three Month Lumps Back to Cool
Heavy manufacturing in the United States has taken on some unusually lumpy characteristics. Over the past year, it has advanced, to be sure, but in very noticeable fits and starts. It therefore raises the same [...]
No Japan In Wyoming
It’s been a few years since Japan’s top central banker has been invited to Jackson Hole. The Kansas City branch of the Federal Reserve is today hosting the opening of its annual symposium. Typically, the [...]
Aretha Franklin’s Estate Gets No R-E-S-P-E-C-T
When Aretha Franklin died in August 2018 she left behind a legendary career and music that touched millions of people. She also left behind an $80 million estate and a nightmare for her four children. [...]
Global PMI’s Hang In There And That’s The Bad News
At this particular juncture eight months into 2018, the only thing that will help is abrupt and serious acceleration. On this side of May 29, it is way past time for it to get real. [...]
The Price of Mispricing
The FOMC statement for the July-August 2018 policy meeting exceeded expectations once more. It’s difficult for the Committee to continually do this since the whole point of these things is to downplay all expectations. The [...]
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