More Bond Market Confusion
The yield on the 10-year US Treasury closed at around 1.68% today, but judging by the haughty commentary surrounding global bond markets you would be forgiven if you thought it was 2.68%. Since the low [...]
The Latest Plus Sign
Chinese oil imports surged again in August to the equivalent of 7.77 million barrels per day (mbpd). That was significantly more than July’s pace of 7.35 mbpd, and up an astounding 1.5 mbpd from August [...]
ChinaBOR
In 1927, physicist Werner Heisenberg wrote in his paper defining the “uncertainty principle” that, “the more precisely the position is determined, the less precisely momentum is known in this instant, and vice versa.” It has [...]
The Scale Of Wholesale Economic Loss
The worst month for the wholesale level of the supply chain during the Great Recession was May 2009, just at the tail end of the heaviest part. The amount of sales as well as the [...]
Return Of The Quants
It has to be a sign of the times as well as human nature where we are compelled to either forget the (recent) past or to convince ourselves that we have moved far enough beyond [...]
German Industry Was Not Supposed To Be Concerning In 2016
In 2015 the combination of the “weaker” euro against the dollar as well as the fact that monetary “stimulus” in Europe accomplished even less than that here meant that for the first time since 1961 [...]
The JOLTS Phantom: Hires or Job Openings?
In all honesty, I could start almost any piece I write with the phrase “economists are stumped.” It has become something of a baseline where there is some element or condition of the global economy [...]
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