<Click on chart for larger image> Nasdaq –Fed Expects $2 Trillion of Treasurys to Be Available Under Repo Program The Federal Reserve Bank of New York announced Wednesday that it would not be changing the limits it set on a tool the central bank uses to keep its official policy rate in check, keeping the… Continue reading The Fed’s Reverse Repo Facility Takes On Year-End Window Dressing
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Conference Call Presentation/Charts of the Week Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/122216.mp3|titles=Conference Call ] Topics Covered This Week Include: New Highs Tear Up Dodd-Frank! Fear Of Trump Retribution? A Trump Rally Loser Spiking Yields Spiking Breakevens Pain In Bonds! Pain Around The World! Soaring Commodities Higher Dollar Breaking Down “Inflation Compensation” Term Premiums Widening What Drives Term Premiums? How… Continue reading Conference Call Presentation/Charts of the Week
Comment On December 22, 2016 at 9 AM CT (10 AM ET, 7 AM PT and 15:00 GMT) Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Since Election Day the stock market, interest rates, the dollar and industrial commodities are all significantly higher. Many have… Continue reading The Reflation Trade: Real Growth Or Inflation?
<Click on chart for larger image> <Click on chart for larger image> Bloomberg Business – Fed Blurs Intentions as Dots Drift Away From Economic Forecasts Move in Fed ‘dots’ contrasts with small changes in forecasts There was something odd in the projections that Federal Reserve officials issued last week. Enough policy makers bumped up the number… Continue reading More On The Fed’s Dots
<Click on chart for larger image> The Financial Times – The hopes and fears around bond ETFs Advocates say they add liquidity while sceptics point to potential for compounding volatility You only need to look back to the tumultuous November in markets to see the growing significance of exchange traded funds that track bonds. While a… Continue reading More On Bond ETFs
<Click on graphic for larger image> Bloomberg.com – Bond Investors Now Losing Most Sleep Over Rising Populism Politics is the biggest concern for 31% in BofAML’s survey Investors have “tweaked porfolios” for a more populist world Forget Federal Reserve interest rate hikes and rising inflation — the thing that’s really worrying bond investors at the moment… Continue reading What Bond Investors Worry About
<Click on graphic for larger image> The Wall Street Journal – Record Capital Outflows Push Euro Toward Parity With Dollar Higher interest rates in the U.S. are drawing money out of the eurozone More money has left eurozone financial markets this year than at any time in the bloc’s history, helping drive the euro toward parity… Continue reading Euro Exchange Rate Close To Parity With Dollar
<Click on graphic for larger image> Linkedin – Ray Dalio: Reflections on the Trump Presidency, One Month after the Election Now that we’re a month past the election and most of the cabinet posts have been filled, it is increasingly obvious that we are about to experience a profound, president-led ideological shift that will have a… Continue reading Ray Dalio On Trump And The U.S. Economy
The Wall Street Journal – Largest U.S. Pension Fund Eyes Drop in Investment Target to 7% Calpers seeks more realistic annual return, but drop would mean higher pension bills for cities, counties and school districts Officers of the largest U.S. pension fund recommended Tuesday that their investment targets drop to 7% because of a cash crunch… Continue reading Largest Pension Fund In The U.S. Lowers Its Investment Return Target
The Wall Street Journal – John B. Taylor: The Case for a Rules-Based Fed Neel Kashkari is wrong. My proposed rules-based reform of the Fed would not be run by a computer. There is a growing consensus that monetary reform is necessary. Eight years after the 2008 financial crisis and the extraordinary measures taken—most notably… Continue reading John Taylor Responds To Neel Kashkari About A Rules-Based Fed
<Click on chart for larger image> Bloomberg View – The Fed Puts China in a Bind The Fed has been openly worrying about rising prices, as the U.S. economy grows steadily and its labor market tightens. That’s why it is boosting rates. In China, by contrast, state news outlets now regularly talk about the “new normal”… Continue reading The Fed And China