A look at outstanding amounts of Treasuries, corporates, agencies, munis and open market paper... Read More
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.... Read More
Private pension funds have much smaller funding gaps than their government counterparts.... Read More
Defined benefit plans continue to be replaced by IRAs and defined contribution plans.... Read More
A home may be the biggest purchase most people make in their lives, but households' home equity is actually surpassed by households' direct stock ownership.... Read More
Almost 47% of FDIC deposits in the U.S. are uninsured.... Read More
Chairman Powell made it clear yesterday that inflation, or price stability, is now the Fed's priority. Concerns over financial conditions will not stand in the way. Short-term debt pricing and the shape of the yield curve are reflecting this reality.... Read More
Jim Bianco: This will be the lead of today’s What We’re Reading in Newsclips. This is far and away the worst performing stock market going into a hiking campaign since the Fed started targeting the funds rate. Colleague: And this... Read More
Jim Bianco: Intraday the the 10-year BE did exceed 3%, but, for now, it has come up just short on a closing basis. Jim Bianco: *SAUDI WEIGHS USING YUAN INSTEAD OF USD FOR CHINA OIL SALES: DJ The Saudis have... Read More
With the end of the 'Fed Backstop,' both equity and bond markets are showing increased stress and volatility.... Read More
Jim Bianco: The WSJ released its latest poll. Stop me if you heard this before? Wall Street Journal: Biden, Democrats Lose Ground on Key Issues, WSJ Poll Finds “Voters also gave Democrats poor marks for handling inflation and the economy,... Read More
Cathie Wood and the ARK ETFs, headlined by ARK Innovation (ARKK), are arguably the most important manager/complex on Wall Street. After their outstanding performance in 2020, these funds significantly underperformed in 2021 and have had an abysmal start to 2022. ... Read More
Russia's wealthiest individuals have lost a considerable sum of money as a result of sanctions placed on Russia.... Read More
Asia has seen a spike in COVID infections. While the health consequences are not as dire as in the past, this has still led to a degree of absenteeism in areas that are often considered the beginning of the supply chain.... Read More
Jim Bianco: MoM Core was up 0.5%, dead on estimates YoY Core 6.4%, also dead on estimates, up from 6.0% last month Keep in mind … YoY CPI Jan 2021 = 1.4% Feb 2022 = 7.9% The Russia/Ukraine war started... Read More
Bloomberg: Powell?s Fed Is Set to Attempt a Rare Soft Landing?in the Fog of War, No Less Rich Miller – In January 2009, Captain Chesley ?Sully? Sullenberger safely piloted his crippled US Airways plane to an emergency landing in the... Read More
Investors in allocator funds seem to be sticking to the 2021 mantra 'There is No Alternative'. Trader ETF flows are bouncing around with the market. Neither group appears to have capitulated despite the market heading south.... Read More
The Fed waited too long to normalize, leaving them with few options. Hiking aggressively to stop inflation and risking a recession/bear market causes less pain than staying too easy in an inflationary environment to protect growth.... Read More
Jim Bianco: I still think US stocks are trading on the hope of a red headline that says some variation of ?Putin is dead/out? or ?ceasefire.? Hope is not a strategy and the reality is this gets worse before better.... Read More