A look at total returns through July 2019... Read More
U.S. interest rates, particularly at the short end of the curve, are the highest in the developed world. We believe the markets see the inverted 3m/10y yield curve as a reason for the Fed to cut rates. If the desired outcome is an uninverted curve, the Fed should cut as much as is necessary to bring the short end of the curve markedly lower than the long end.... Read More
A proxy for the future of electronic and algorithmic trading is MarketAxess and Tradeweb. These stocks are booming like no other stocks in the financial sector. Will the entire bond market be reduced to a platform run off a phone app? These companies are trying.... Read More
Bloomberg BusinessWeek screams about low rates on their cover.... Read More
With economic data deteriorating in Europe, rates at both the short end and long end have been falling in the EU.... Read More
The Fed should discuss why U.S. interest rates are the highest in the world and heed the message from the inverted curve. If they take too long to address this issue, they risk creating a recession.... Read More
Our July 18, 2019 internal conference call. ... Read More
Despite the disbelief by many that the Fed will cut rates at the end of the month, economic data and inflation expectations actually make it a reasonable idea.... Read More
Yield curve control, as part of Japan's larger quantitative and qualitative monetary easing program, has not helped the Japanese economy or increased inflation. Along the way it has damaged their bond market, killed their banks and punished their savers. Naturally, the ECB and Fed are taking detailed notes to possibly implement something similar.... Read More
Foreign revenue-focused stocks are outperforming domestic revenue-focused stocks. While cable news interest in China/trade stories spiked after Trump's May 5 tweet, the vast majority of companies never mention it in their presentations.... Read More
In our latest Bloomberg column, we make the case that the Fed should cut 50 basis points. More than likely, they will follow the market's orders and cut 25 basis points. This might not be enough.... Read More
Jim Bianco Discusses the July Fed meeting on July 8, 2019. ... Read More
Today's topics include Powell's testimony, the odds of a rate cut, earnings, the strong dollar, LIBOR, bank stress tests, high yield ETF flows, EU cuts growth forecasts and analyzing Fedspeak. ... Read More
