Markets
Chicago Chapter of the CMT Association – January 23, 2020
January 24, 2020
On January 23, 2020, Jim spoke to the Chicago chapter of the CMT Association. Below is the slide deck from the speech: View PDF
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Markets
“Not QE” Looks a Lot Like Y2K
December 30, 2019
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.
Markets
The Recent History of Nomination Betting
December 27, 2019
Summary With the election still roughly a year away, there is plenty of time for candidates’ odds to shift. In fact, a look at recent history shows only two candidates who led at this point in the process in previous elections actually won the...
Markets
What Is the Fed’s Plan to Get the Repo Market Back to Normal?
December 9, 2019
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.
Markets
FIASI New York City
December 6, 2019
On December 5, 2019, Jim spoke to the Fixed Income Analysts' Society of New York City.
Markets
FIASI New York City
December 6, 2019
On December 5, 2019, Jim spoke to the Fixed Income Analysts' Society of New York City.
Markets
The Repo Market Is Under Control so Long as the Fed Controls It
November 14, 2019
In yesterday's testimony, Chairman Powell proclaimed the repo market is under control. The effective funds rate is trading even with IOER for the first time in many months. However, this is all due to the Fed's heavy involvement via repo operations...
Inside Fixed Income ETF Conference
November 13, 2019
Jim Bianco spoke to the Inside Fixed Income ETF conference in San Diego on November 13, 2019.
Markets
Broken Funding Markets
September 18, 2019
Years of rule changes, balance sheet reductions, band-aid approaches, and a misreading of the funding markets have resulted in an under-reserved system unable to meet the needs of the markets. This is fixable, but it never should have happened in the...
Stocks
Sell in May and Go Away?
May 1, 2019
The old adage, "Sell in May and go away" is examined on a couple different timelines.
Central Banks
A Tight/Illiquid Funding Market
April 23, 2019
The effective fed funds rate broke above the interest on excess reserves rate. If this problem persists or grows worse, it could be an issue for Fed policy.
Markets
Stocks vs. Bonds – Which Is Correct?
April 11, 2019
The stock and bond markets are telling two different tales on the economy. What is driving them?