I’m of the long standing view that Fed chairs have one prime responsibility above all others: Keeping confidence up, and if it requires to sweet talk problems then that’s what it takes. The […]
Ticking Time Bomb
Intervention
The Fed has gone into full intervention mode. Not only into full intervention mode, but accelerated intervention mode. Not just a little “mid cycle adjustment” but full bore daily interventions to the […]
The Beginning of the End
They sure are trying their best. To do what? To goose markets higher. It’s been quite the spectacle all year, but this Friday sure took the cake. The entire week had been […]
Crisis
We’re in the middle of an existential crisis. We must be. That’s what central bank policies are telling us. After all the ECB cut rates to the lowest ever with its balance […]
Trigger
Risk happens fast, especially when markets run on hopium with extended valuations. Whether today’s news headlines suggestive that Democrats may be opening an impeachment inquiry into President Trump will be a trigger […]
QE Infinity
It’s finally official. QE Infinity is here, so announced today by Mario Draghi at his final press conference as the head of the ECB. Not only QE, but also joining Turkey and […]
The Fed’s Math Problem
The Fed has a math problem and so do markets. Everyone from the president on down is demanding rate cuts, lots of them. “Mid-cycle” adjustment Fed Chair Jay Powell called the July […]
Reality Dawning
Yesterday’s announcement by the Trump administration to delay some of the new tariffs on China it just announced a few weeks ago was initially greeted with relief by equity markets across the […]
Risk
Do investors recognize how much risk they’re taking on at this stage in markets? I think it’s a highly relevant question as things may not be as well as they seem. On […]
Rate Cut Show
The circus is back in town and it’s putting on a major show, the rate cut show. Some thoughts for your consideration: Firstly, the expectation is for a 25bp rate cut. That’s […]
Credit Card Splurge
You’d think that the drop in yields and a Fed about to cut rates would’ve brought about some relief to credit card bills. No Sir. And you might think that the highest […]
The Most Dangerous Game
How can I not talk about the Fed? How can I not talk about the daily jawboning? It is all around us. Every. Single. Day. And it keeps working. I feel like […]
