Today's topics include when will the Fed return to profitability?, calling for more accountability at the Fed, more on T-bills' share of issuance, Mary Daly has concerns about the labor market, mean vs. median inflation expectations, people expect to retire earlier in life, Larry Summers reiterates higher for longer, momentum plays take a hit, and the housing market.
Jim Bianco discusses this saying that PCE data shouldn’t move the market too much. He talks about how he would pay attention to the University of Michigan Inflation Expectation which will be on Friday as well. He goes over next steps for the Fed, highlighting that this is as good as inflation is going to get. Finally, he looks at how the consumer has been a big driver of this economy.
A replay of our June 27, 2024 conference call.
Today's topics include neutral rate estimates edging higher, rising debt problems, Treasury auctions leaning on short-term debt, some perspective on Nvidia's valuation, consumer spending, a note on tech inflows, shipping costs remain elevated, and a history of the world's largest companies.
Today's topics include when will the Fed cut rates?, Fed officials urge patience with rates, foreign travel boosts European economic growth, Nvidia & concentration risk, opinions on defense spending, quiet markets, dollar up, investing in higher-yielding MBS, CRE & mis-rating risk, and politics at central banks
A look at outstanding amounts of Treasuries, corporates, agencies, munis and open market paper
The amount of outstanding private credit in the U.S. experienced a brief decline during the financial crisis, but government debt grew throughout the entire period.
Private pension funds typically have much smaller funding gaps than their government counterparts.
Defined benefit plans continue to be replaced by IRAs and defined contribution plans.