Still Broader Impacts of ‘Dollars’
The Federal Reserve’s Labor Market Conditions Index (LMCI) fell back -2.2 in September. Revisions to the last few months were also downward, suggesting once again that there is no positive economic momentum this year. Apart [...]
Clock Ticks To CNY Again
You can only pick one. Going back to around July 11, the People’s Bank of China decided for whatever their reasons CNY had gone far enough and that the central bank would intervene to all [...]
Standards For Interpretation And Analysis Matter A Great Deal
After falling by nearly 7% year-over-year in July, the third worst drop since 2009, wholesale sales expanded by nearly 7% in August, the highest gain in almost two years. As with factory orders, however, there [...]
Uneven Payrolls For An Uneven Economy That Is Far From Okay
The September payroll report continues a string of repetitious unevenness that is the hallmark of these types of economic periods. The economy seems to appear strong then weak and then strong again so that just [...]
Does The Flash Crash In Sterling Prove China’s Absence All Relating To The Precarious State of ‘Dollars’?
On January 10, the South African rand crashed about 9% in just a matter of minutes. It was the largest move for the currency since October 2008, an ominous yet poignant sign of just how [...]
One Possible Origin of ‘Something’
If I was forced to guess what it was that specifically set off this “something” of growing “dollar” illiquidity since July, I would have to go back to the July 28 and 29 BoJ policy [...]
Zeroing In On ‘Something’; Another Bank Anecdote
If we objectively analyze what is taking place with global banks, it is that they are facing new constraints due to volatility and conditions across different capacities that are much different than modeled expectations. This [...]
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