I have only written a couple times on Europe over the last 18 months. Once in the lead-up to the Dutch election and again in the lead-up to the French election. The titles of those notes were “Trump, the great unifier of Europe” and “Trump, the great unifier of...
Those folks in the 4 hikes in 2018/4 hikes in 2019 camp are probably not too happy after reading the May FOMC minutes. Here are a couple of excerpts that probably stung a little: “… some participants noted it might soon be appropriate to revise the forward-guidance...
“With all the crazy monetary experimentation over the last 10 years, how in the world did we not generate excessive amounts of inflation? Surely negative short-term real rates for so long, with a 5x increase in the Fed balance sheet, should have taken us back to...
Taking a step back from day-to-day market minutia, the rather mundane story for 2018 is that spoos and the dollar are largely unchanged while 10yr Treasury yields are up about 50bps. That said, the paths to unchanged for spoos and dollar have been quite different. At...
Taking a step back from day-to-day market minutia, the rather mundane story for 2018 is that spoos and the dollar are largely unchanged while 10yr Treasury yields are up about 50bps. That said, the paths to unchanged for spoos and dollar have been quite different. At present, spoos are about 7% off their 2018 highs […]
