Today's topics include Jamie Dimon on the funds rate, feeling the pinch of higher rates, the basis trade, dwindling savings, Moody's warns on a U.S. shutdown, 0DTE options, measuring gas prices as a percent of disposable income, and the reason for rising rates matters to tech stocks.
The 2009 to 2020 period might be the outlier for interest rates, not the norm. So, hoping R* will return to this outlier period when the inflation landscape has changed will prove to be misplaced.
Today's topics include inflation going down but costs still high, private zombies, Ackman's bond short, beating a dead horse: back-to-office trend, stock bond correlation & diversification, $100 oil, more on the labor market, finding more growth in higher-for-longer environment, and risks that come with higher rates
Recall that last year was the worst total return year for the bond market in history. Here is a chart back to 1801 to remind everyone how bad last year was. So naturally, global fund managers turned very bullish for 2023. Here are the August BofA Global Fund Manager Survey results showing they are more… Continue reading Where Does the Bond Market Stand?
Today's topics include the Fed hikes until something breaks, central banks paused rates hikes this week, checking in on the stock market, U.S. yields top currency-hedged Chinese yields, renting vs. buying, more color on the Treasury's liquidity buybacks, shipping rates, and the state of NFTs
Today's topics include The Fed's Summary of Economic Projections, is the market finally starting to get the 'higher for longer' message?, another FOMC-day selloff, understanding Fedspeak, debating neutral, checking in on money market funds, housing's rising costs, speculating on crude oil, and Tether lending
What does the 2023 bank walk mean for the broader economy and the nature of banking?
Today's topics include previewing today's FOMC meeting, where is the U.S. economy heading?, what drives oil prices?, housing starts by intent show more rentals coming, it's not just the single family that is priced out of homes, a stalling rally, UK inflation dips but oil rally is an issue, lower income levels feeling recessionary pain, productivity of labor, and peak China?