It has been about 2 months since the great market meltdown of 2015 began! The Chinese devaluation kicked things off in late August, sending spoos from about 2100 to the mid 1800s in a heartbeat. Then, just as the market became somewhat comfortable with idea that...
Friday's employment report was a bit weak relative to the most recent trends. Only 142k new jobs were created, there were negative revisions to the last few months, wage growth slowed and hours worked fell. But hidden in the moderate softness was one very bright spot...
By now most of you have probably watched Carl Icahn's infomercial for the coming apocalypse in high yield debt markets. If not just click here - http://carlicahn.com - it's well worth the time. And after viewing his vituperation of low interest rates, and more...
Over the last year we have consistently argued that the policy reaction for the FOMC was becoming more difficult to estimate. During the excess-slack-filled recovery phase of our business cycle (2009-2014), there was never any doubt about what they would do - print a...
Thus far the market has taken Janet's about face on the policy outlook from last Thursday as an indication that she believes the U.S. economy is in, or is heading towards, a dark place. Her assessment seemed to channel an almost Summeresque warning that EM weakness...
Thus far the market has taken Janet's about face on the policy outlook from last Thursday as an indication that she believes the U.S. economy is in, or is heading towards, a dark place. Her assessment seemed to channel an almost Summeresque warning that EM weakness combined with an under shooting of domestic inflation targets […]
