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The Fed’s Fixed-Rate Full-Allotment Reverse Repo Facility

September 23, 2013

ScottSkyrm.com – Fed Officially Announces The Fixed-Rate Full-Allotment RRP In August, the Fed dropped a bombshell on the market when they partially announced a new Fixed-Rate Full-Allotment Reverse-Repo Facility (FRFARRP). There was considerable debate as to what the July FOMC minutes really meant. Problem solved! It was announced today. The Federal Reserve issued a Press… Continue reading The Fed’s Fixed-Rate Full-Allotment Reverse Repo Facility

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The Government’s Role With The GSEs

September 23, 2013

The Wall Street Journal – Rethinking Fannie, Freddie—and the 30-Year Mortgage Washington is finally talking seriously about how to replace Fannie Mae and Freddie Mac, the mortgage-finance juggernauts that the government was forced to rescue five years ago. Just don’t expect quick action. The firms are proving to be as difficult to shut down as… Continue reading The Government’s Role With The GSEs

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Europe’s Political Landscape

September 23, 2013

The Wall Street Journal – Europe’s Long To-Do List They say a week is a long time in politics, but euro-zone politics appears to have been on hold for months ahead of Sunday’s German elections. Monday, the pressure will return for Europe to face up to a long to-do list. Germany’s approach to Europe’s problems… Continue reading Europe’s Political Landscape

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Greece

September 23, 2013

The Wall Street Journal – Greece, Creditors Begin Talks on New Bailout Greece began talks with international inspectors on Sunday that will set the stage for a third multibillion-euro bailout of the country, even as senior officials in Athens pointed to signs of a recovery after years of deep recession. The discussions come amid heightened… Continue reading Greece

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Barron’s Turns Bearish

September 23, 2013

Barron’s – JACQUELINE DOHERTY: For Stock Investors, It’s Time to Take Chips Off the Table What goes unspoken can be more important that what is spoken. That was perhaps the biggest lesson of the past few months when Fed Chairman Ben Bernanke and his colleagues implied they’d like to reduce the central bank’s purchases of… Continue reading Barron’s Turns Bearish

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Cartoons

September 23, 2013

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Newsclips

What’s Next?

September 20, 2013

Comment Today at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 BST), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Join us today as we run down the events impacting markets * Summers is out, Yellen in? * Taper talk/FOMC meeting *… Continue reading What’s Next?

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More On The FOMC’s Decision

September 20, 2013

Comment Yesterday Jim appeared on Bloomberg TV and Bloomberg radio to discuss the recent FOMC meeting. To view the TV interview click above, to listen to the radio interview, click below.  To view any of our recent interviews click here. Sept. 19 (Bloomberg) — Torsten Slok, chief international economist at Deutsche Bank AG, and James… Continue reading More On The FOMC’s Decision

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Did Bernanke Inadvertently Admit Tapering Is Tightening?

September 20, 2013

MarketWatch – Bernanke suggests he is now in the ‘tapering is tightening’ camp Is tapering a tightening? Markets have always said “yes” and Fed Chairman Ben Bernanke has always said “no,” at least until yesterday’s press conference. In explaining the Fed’s surprising decision not to taper, Bernanke said that the Fed “has some concern that… Continue reading Did Bernanke Inadvertently Admit Tapering Is Tightening?

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Bernanke’s 7% Unemployment Threshold

September 20, 2013

Real Time Economics (WSJ Blog) – Forget 7% Unemployment as Fed Guidepost So about that 7% unemployment rate Federal Reserve Chairman Ben Bernanke cited back in June? Don’t pay so much attention to that. Earlier this year he said that’s where the Fed expected the unemployment rate to be when it ended its signature bond-buying… Continue reading Bernanke’s 7% Unemployment Threshold

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Food Stamps

September 20, 2013

<Click on chart for larger image> The Wall Street Journal – House Passes Bill to Cut Food-Stamp Spending The House on Thursday narrowly passed a bill curtailing spending on food stamps, setting up a battle with the Senate, which backs far smaller cuts. The vote was 217-210. The bill would cut nearly $40 billion over… Continue reading Food Stamps

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Polish Pension Accounting

September 20, 2013

The Economist – Buttonwood: Smoke and mirrors The meaning of the Polish government’s pensions manoeuvre WHEN is a debt not a debt? When the money is promised to prospective pensioners. That appears to be the underlying message of a package unveiled this month by the Polish government. The Polish pension system, set up in 1999,… Continue reading Polish Pension Accounting