Tag Archives: Markets
Markets
The Fed Throws Another Kitchen Sink at the Markets
The Fed Throws Another Kitchen Sink at the Markets
Posted By Jim Bianco
The Fed greatly expanded its buying program, adding facilities to buy munis and CARES loans as well as broadening eligible bond purchases to fallen angels and a wider swath of investment grade bonds.... Read More
Markets
The Fed’s SOMA Portfolio Grows Substantially
The Fed’s SOMA Portfolio Grows Substantially
Posted By Greg Blaha
A look at the assets on the Fed's balance sheet... Read More
Markets
T-Bill Issuance Ramps Up
T-Bill Issuance Ramps Up
Posted By Greg Blaha
In the wake of the government's $2 trillion stimulus bill, the Treasury has ramped up T-bill issuance.... Read More
Markets
Measuring the Economic Damage
Measuring the Economic Damage
Posted By Jim Bianco
We are about to undergo the worst recession in the modern era.... Read More
Markets
Why Aren’t Treasury Yields Plummeting on Fed Purchases?
Why Aren’t Treasury Yields Plummeting on Fed Purchases?
Posted By Jim Bianco
Something extraordinary is happening in the Treasury market and few really seem to understand it. The Fed bought $1 trillion of bonds in the last three weeks and bond yields have barely budged. Why?... Read More
Markets
The Fed’s Attempts to Bolster Treasury Market Liquidity
The Fed’s Attempts to Bolster Treasury Market Liquidity
Posted By Jim Bianco
China needs dollars. They have $1 trillion of Treasuries to sell to generate dollars. The Fed does not want this to happen. So the Fed created a new swap line Treasuries as collateral for dollars. ... Read More
Markets
The Dealers Are Offsides and Selling
The Dealers Are Offsides and Selling
Posted By Jim Bianco
The dealers are offsides. They are too exposed to interest rate risk going into a period of lower growth, larger deficits, and potentially more inflation.... Read More
Markets
Detailing Financial Market Stress and Flows
Detailing Financial Market Stress and Flows
Posted By Jim Bianco
Fund outflows are the most extreme ever seen and financial market stress remains.... Read More
Markets
Funding Gaps at Public and Private Pensions
Funding Gaps at Public and Private Pensions
Posted By Greg Blaha
Private pension funds have much smaller funding gaps than their government counterparts.... Read More
Markets
Defined Benefit Plans Continue to Shrink
Defined Benefit Plans Continue to Shrink
Posted By Greg Blaha
Defined benefit plans continue to be replaced by IRAs and defined contribution plans.... Read More
Markets
Breaking Down Debt in the U.S.
Breaking Down Debt in the U.S.
Posted By Greg Blaha
A look at outstanding amounts of Treasuries, corporates, agencies, munis and open market paper.... Read More
Markets
Comparing the Value of Credit in the U.S. to GDP
Comparing the Value of Credit in the U.S. to GDP
Posted By Greg Blaha
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
Markets
Forecasts Slowly Responding to Coronavirus
Forecasts Slowly Responding to Coronavirus
Posted By Jim Bianco
The floodgates are open. Look for forecasts for Q2 2020 and the rest of the year to drastically change to some of the most extreme readings ever seen. At this point, these are no more than wild guesses. Take this as a signal that quantitative approaches at fair value are not possible in this environment.... Read More
Markets
Thoughts on the Fed Announcement
Thoughts on the Fed Announcement
Posted By Jim Bianco
It is difficult to find a superlative to describe what the Fed announced this morning. At first blush, it looks like they are nationalizing financial markets, except for equities and high yield.... Read More
