Central Banks
The Fed’s Losses Could Take Years to Make Back
December 9, 2022
The Fed's cumulative losses now total over $13 billion.
Our Research
Sample Our Reports, Presentations, & Market Insights
Central Banks
An Update on Reverse Repo
December 9, 2022
As Quantitative Tightening (QT) and other tightening policies continue, the Federal Reserve's reverse repo facility is an essential piece to understanding how the Fed can potentially enact a smooth balance sheet reduction schedule.
Markets
The 2023 Bull Case Is a Recession!
December 6, 2022
Wall Street is forecasting a recession, soaring unemployment, collapsing inflation, and the worst profit outlook in at least a generation. But the hope is this could be bullish for stocks as it leads to a Fed pivot and another liquidity-driven rally.
Markets
Employment Report Post Mortem
December 5, 2022
Friday's payroll report was good; it showed an expanding economy. But in this "good news is bad news for markets" world, this good report tanked risk markets, especially NASDAQ stocks. Then Wall Street/investors spent all day convincing themselves...
Talking Data Podcast
Talking Data – The 10-Year Note Goes Streaking
October 5, 2022
In the latest installment of Talking Data, Jim discusses the rise in 10-year yields.
Data Reports
Monthly Fund Flows – Stock vs. Bond Flows
October 5, 2022
In past years we highlighted the world’s aging population and its need for low-risk investments, noting that inflows into bond mutual funds and ETFs topped those of stock funds over the past decade. This divergence really began accelerating in the...
Financial News
Quick Comments/What We’re Reading
October 5, 2022
Today's topics include hoping for a pivot, market stress, central banks cater to the markets, fighting inflation takes a long toll, asset managers in focus, the odds of a recession, more signs of stress on housing market, and updating the return to...
Markets
Extreme and Popular Charts
September 30, 2022
Some highlights from our recent COT report.
Conference Call
Foreign Exchange & Interest Rates
September 26, 2022
A replay of our September 29, 2022 conference call
Markets
Breaking Down Debt in the U.S.
September 23, 2022
A look at outstanding amounts of Treasuries, corporates, agencies, munis and open market paper
Markets
Comparing the Value of Credit in the U.S. to GDP
September 23, 2022
The amount of outstanding private credit in the U.S. experienced a brief decline during the financial crisis, but government debt grew throughout the entire period. Both are now at new highs.
Markets
Funding Gaps at Public and Private Pensions
September 23, 2022
Private pension funds have much smaller funding gaps than their government counterparts.