The Federal Reserve abandoned “data dependent” – at least for next week’s FOMC meeting. December futures imply a 1.78% Fed funds rate, up six bps [...]
There must be members of the FOMC feeling they are about to be railroaded into a 50 bps cut a week from Wednesday. Chairman Powell essentially pre-committed to [...]
Please join Doug Noland and David McAlvany next Thursday, July 18th, at 4:00PM EST/ 2:00pm MST for the Tactical Short Q2 recap conference call, [...]
Please join Doug Noland and David McAlvany Thursday, July 18th, at 4:00PM EST/ 2:00pm MST for the Tactical Short Q2 recap conference call, “What’s [...]
President Trump and President Xi are meeting in Osaka as I write. We’ll know much more in the morning. Pre-meeting reports had the two sides agreeing to a [...]
June 21 – Neel Kashkari, Minneapolis Fed president: “In the Federal Open Market Committee meeting that concluded on Wednesday of this week, I advocated [...]
Total Non-Financial Debt (NFD) expanded (nominal) $721 billion (strongest growth since Q2 ’18) during the quarter to a record $52.579 TN. NFD expanded $2.504 [...]
“Stocks Eye Best Week of 2019 on ‘Powell Put’ Bets,” read the Friday Bloomberg headline. By the close of Friday trading, the S&P500 had posted a [...]
So Much for the “Trump Put.” May 31 – Bloomberg (Felice Maranz): “President Trump’s promise to impose tariffs on goods until Mexico halts a flow of [...]
After years of increasingly close cooperation and collaboration, the relationship has turned strained. Both sides are digging in their heels. Credibility is on [...]
Let’s begin with the markets. Ten-year Treasury yields dropped eight bps this week to 2.39%, nearing the March 27th low (2.37%). Two-year yields fell seven [...]
What went wrong? Clearly, all the positive talk from both the U.S. and China painted a much too rosy picture of trade negotiation progress. From the Wall [...]
