Pure Corruption
In December 1999, Princeton Professor Ben S. Bernanke wrote a relatively obscure paper largely denouncing the Bank of Japan’s shyness. Japan’s economy had by then been mired in its first Lost Decade, one which at [...]
Ugly China’s American Mirror
Yesterday, we spotlighted Brazil’s economy as perhaps a leading indicator for where things stand. Today, it’s China’s turn. Neither are very encouraging. Both offer instead only growing concern. The reason isn’t just the possibility of [...]
Overshadowing The Multi-year CPI High
Overshadowed by the “dollar” last week was the Bureau of Labor Statistics. The BLS reported the US CPI had increased in July 2018 by the highest rate since December 2011. Running at 2.95% year-over-year, consumer [...]
Unwelcome August
There is just something about August. It is irresistible, apparently, in all the wrong ways. For starters, there are big ones and small ones but somehow they all line up against liquidity and plentiful eurodollar [...]
Welcome To Our New Design
The global economy may not be getting any better, but at Alhambra we strive to anyway. Unlike worldwide eurodollar liquidity, we aim to actually improve over time. In our ongoing effort to make things easier [...]
The Smoke Thickens In China
A major part of any yield curve is inflation expectations. Nominal growth particularly toward the longer end of curves sets the agenda for trading. But further out there are several confluences that may cause distortions. [...]
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