Today's topics include the inner workings of the Federal Reserve, world stocks vs. U.S. stocks, checking in on sentiment, emerging market sovereigns, concerns heading into 2020, regulatory activity, beating a benchmark is difficult, quantifying the effects of a trade war and recession by state.
A discussion of the Fed's repo support and the similarities to the Y2K special lending facility.
Monthly fund flows through November 30, 2019
Today's topics include the Fed's task of removing itself as repo operator of last resort, stock market liquidity, a long-term history of negative rates, do negative rates have a place in a portfolio?, the euro's narrow trading range, dual interest rates, another look at the new FOMC voters, China starts off the new year with a bang, the Phillips curve and rolling over government debt.
For both the stock and bond markets, the first day and week of the year are often the most volatile.
Today's topics include repo operations end year with a whimper, M&A in 2019, the top performers of the decade, best performing financial stocks of the decade, the future of the eurozone, the yield curve, this ain't your grandparents' economy, and nearly everyone missed the boat on bond forecasts this year.
The Fed insists that their repo support operations are "not QE" and therefore are not influencing financial markets. 20 years ago the Fed did something similar and it seemed to have a profound effect on financial markets.
The Fed insists that their repo support operations are "not QE" and therefore are not influencing financial markets. 20 years ago the Fed did something similar and it seemed to have a profound effect on financial markets.
Today's topics include replacing repo with swaps for regulatory reasons, 2019 stock returns, paying up for quants, the low rate environment, stock returns and earnings, doom and gloom predictions for 2020, IPOs, credit default swaps, a supply side recession, leveraged loan downgrades, the wealth management industry, active vs. passive, Libra, oil supply/demand, the rigged game at ratings agencies and stock trading fees.