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Newsclips
Updating the Yen Carry Trade
September 11, 2023
Inflation in Japan is reaching 40+ year highs. Now that the country has effectively raised the upper limit to its yield curve control, rates are heading higher. Given they are the largest foreign owner of US Treasuries, more attractive Japanese yields are negative for the US bond market. A significantly weaker yen/stronger dollar could change traders opinions, but this is not happening yet.
Newsclips
Quick Comments/What We’re Reading
September 11, 2023
Today's topics include Timiraos speaks, the jobs market, overly optimistic earnings estimates?, concerns over rising oil prices, China's negative outlook, work from home, the credit market, and the U.S. consumer.
Newsclips
Cartoons
September 11, 2023
Media & Communications
Jim Bianco joins Fox Business to discuss the Bank Walk, Bankruptcy Boom & latest in the Crypto Market
September 8, 2023
Jim Bianco joins Fox Business to discuss the Bank Walk, Bankruptcy Boom & latest in the Crypto Market with Charles Payne.
Newsclips
What Does the Rise in Bankruptcies Mean?
September 8, 2023
The recent spike in bankruptcies in August has been much talked about in the last few days. Some worry it is a sign a credit event is coming. This is not how the relationship works. The credit event, or tighter lending standards, leads the spike in bankruptcies.
Newsclips
Quick Comments/What We’re Reading
September 8, 2023
Today's topics include the basis trade, bigger economic revisions, what drives economic sentiment?, rising credit limits, China's economic growth, excess savings running out, the housing market, and JPMorgan dives further into blockchain tech.
Newsclips
Cartoons
September 8, 2023
Charts of the Week
Falling Survey Response Rates
September 8, 2023
Many government statistics are collected via surveys. As with political polls, the public is souring on answering them. The result is lower response rates and larger error rates.
Charts of the Week
Checking in on the Fed’s Remittances
September 8, 2023
The Fed's cumulative losses since September 7, 2022 now total roughly $98 billion.
Charts of the Week
Breaking Down the World of Sovereign Debt
September 8, 2023
58% of developed market sovereign debt now yields more than 4%.
Charts of the Week
Grayscale’s Victory Against the SEC
September 8, 2023
Last week Grayscale notched a victory against the SEC, leading to some speculation its bitcoin trust, GBTC, will be allowed to convert to a spot ETF. The trust's discount to NAV is a good proxy to gauge how likely this is.