Today's topics include the yield curve & Fed hikes, inflation expectations, blame the Fed on inflation, housing's effect on inflation, Treasury returns, $1 trillion of ETF inflows in 2021, more on the container ship backlog, banks settling currency trades on the blockchain, Biden's approval rating, and Time's person of the year
The market continues to put pressure on the Fed with relentlessly rising short rates, expectations for three rate hikes in 2022, forecasts for a low terminal funds rate, and a flattening yield curve.
Inflation can be broken down into reopening and non-reopening components. Powell's decision to retire the word 'transitory' may have been partly based on the rise in 'non-reopening' inflation.
Today's topics include Americans see rising prices, wrenches in Cathie Wood's bull market thesis, omicron severity, digging into the numbers, rethinking younger wealth, and daily dose of crypto
Churn remains high in the labor market. In October, there were almost 1.5 job openings for every unemployed person.
The WTO's Goods Trade Barometer slowed markedly from the summer months, suggesting a reduction in the pace of trade growth.
The normally positive relationship between options volume and the Goldman Sachs Non-Profitable Tech Index has broken down in recent weeks.
Vanderbilt has created an indexed and detailed database of TV news archives broken down into 15 second time blocks and distinguishable by individual news networks. The mentions of transitory inflation and higher prices have increased dramatically throughout 2021.
Stablecoins like Tether and USDC will have to remain as transparent as possible moving forward if they hope to satisfy regulators. Their attestations have become increasingly explicit over the past year, but they will have to continue to adapt as issues like Evergrande pop up.
Updating the growth in central bank balance sheets