Janus Capital – Bill Gross: Doubling Down All of these illusions are derivatives of the so-called Martingale System, which claims that it is mathematically impossible to lose, given enough money and the willingness of the casino to take the increasing bet. The latter conditions, however, are where reality meets the road. A string of 4,… Continue reading Bill Gross Speaks
Bloomberg.com – The Idea of BOJ Foreign-Debt Buying Just Won’t Go Away The idea of the Bank of Japan purchasing foreign bonds won’t go away, even after Prime Minister Shinzo Abe damped speculation about the possibility as recently as last month. From a former U.S. treasury secretary to an adviser to Abe and at least one… Continue reading Should Central Banks Consider Buying Foreign Debt?
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Elections And Central Banks A transcript of the September 29, 2016 conference call. Handout Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/092916.mp3|titles=Conference Call ] Webcast (download if flash video does not work below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/092916.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” autoplay=”false” loop=”false” autorewind=”false” skin=”functional” /] [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=325″]
<Click on image to view interview> Comment On Friday Jim was on CNBC discussing Janet Yellen’s recent comments that the Fed should be able to buy stocks. In order for something like this to be possible, Congress would first have to approve such a measure. In this political environment, that is simply not happening. Yellen’s… Continue reading Will The Fed Start Buying Equities?
Bloomberg.com – Money Markets Are Facing the Most Tumultuous Quarter-End Since the Financial Crisis The U.S. short-term financing markets and the $2.6 trillion money-fund industry are grappling with one of the most chaotic quarter-end stretches since the financial crisis. Quarter-end is often a tumultuous period. Banks typically rein in collateral lending as they shore up… Continue reading Money Market Funds & Quarter-End Window Dressing
<Click on graphic for larger image> Bloomberg.com – European Banks Are Asking the ECB for a Lot More Dollar Funding As part of its liquidity operations the European Central Bank has been providing U.S. dollars to lenders since the weeks after the collapse of Lehman Brothers Inc. The totals drawn by banks have been relatively low for the… Continue reading More Signs Of Stress At Quarter-End
<Click on table for larger image> Bloomberg.com – This Chart Predicts Trump Will Win, Unless the S&P Rallies in October Take it with a massive grain of salt, but the stock index has a funny way of predicting the presidential victor. Two times the pattern didn’t hold were in 1968 and 1980, when influential third-party… Continue reading Can Stocks Predict The Election’s Outcome?
<Click on graphic for larger image> Federal Reserve Bank of Atlanta – GDPNow The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 2.4 percent on September 30, down from 2.8 percent on September 28. The forecast of third-quarter real consumer spending growth declined from 3.0… Continue reading GDPNow Heads Lower Yet Again
Credit Bubble Bulletin – A Take on Deutsche Bank Deutsche Bank is to the global government finance Bubble what Lehman was to the U.S. mortgage finance Bubble. Lehman may have been the catalyst, but the root of the problem was Trillions of mispriced securities, unsustainable home prices and deep structural impairment (financial and economic). Deutsche… Continue reading More On Deutsche Bank
<Click on graphic for larger image> Bloomberg.com – Negative-Yielding Bonds Jump to Almost $12 Trillion After Ebbing World’s less-than-zero bonds, mostly sovereign, near June peak France, Germany, Netherlands have biggest piles after Japan’s The unprecedented worldwide surge in the market for bonds that are certain to lose money if held to maturity regained strength last month.… Continue reading Negative Yielding Debt
Barrons – Goldman: “Substantial Weakening” Of The Yen Is BoJ’s Only Way Out Goldman Sachs continues to see the yen weakening to 108 per dollar in the three months, even as the market sentiment is shifting towards a stronger yen. “There is lots of speculation that the fiscal stimulus will help the BoJ meet its… Continue reading Goldman Chimes In On The BoJ