Recent Commentaries

Jay knew about Q2 GDP

Here is the single most important excerpt from Jay’s press conference on Wednesday: …as it relates to September, I said that another unusually large increase could be appropriate. But that’s not a decision we’re making now. It’s one that we’ll make based on the data...

read more

How about 100bps and an abandonment of forward guidance?

The most interesting outcome from the ECB meeting last week was not the larger-than-expected 50 bps hike, nor was it the unanimous decision to create an uncapped and ratings-free anti-fragmentation tool. Rather, it was the decision to completely ditch any and all...

read more

Uber-credibility

One month ago, just before the last FOMC meeting, I penned the following lines in a note entitled "Jay's Volcker Moment": Jay is going to act, and act aggressively!!! That surely brings 75bps into play on Wednesday. And one could make a very cogent argument for...

read more
error: Content is protected !!