Today's topics include the latest trade war headlines, changes in the field of economics, how Powell built a consensus at the Fed, less cash for big banks' repo operations, the Fed's inflation target, the ECB's inflation target, Fannie/Freddie cut back on risky loans and breaking down consumer spending.
The Fed should be mapping out a plan to return the repo market to normal. Instead, their support of the market could reach $500B by year-end. Repo is too important to leave in this state for much longer.
Today's topics include the repo market blame game, flows do not always follow performance, the ECB's strategic review, a look at low volatility stocks, fiscal vs. monetary policy, RIP Paul Volcker, wage growth vs. mortgage rates and global deregulation.
On December 5, 2019, Jim spoke to the Fixed Income Analysts' Society of New York City.
November's payroll report surprised even the most optimistic economists' estimates. The return of striking GM workers helped, but even if that statistical quirk were ignored, the numbers were positive across the board.
On December 5, 2019, Jim spoke to the Fixed Income Analysts' Society of New York City.
Today's topics include preparing for potential year-end liquidity issues, the latest on the trade war, Germany's industrial slowdown, the Fed wants to get in the business of controlling the yield curve, difficulty in rating munis, create your own index, gauging the value of illegal activities in GDP, Saudi Aramco valued at $1.7 trillion, Chinese imports and dispelling myths surrounding the transition from LIBOR to SOFR.
Today's topics include the latest on the trade war, a caveat to yesterday's ADP release, Japan fires up its stimulus machine again, gauging the odds of an inverted curve in 2020, contracting earnings, can consumers save the economy, the Fed's 'non-QE' program, breaking free of the dollar, negative deposit rates for German retail accounts and sweeping accounting problems under the rug.