QE is working VERY well. Jobs are being generated; consumer and business sentiment are back above pre-crisis levels; home prices are rising at double digit annualized rates; and risk-asset prices are at record highs. Much to the dismay of the haters and the doomers,...
Back in the early ‘70s, as the oil price shock began to hit hard, speed limits in the US were cut to 55mph. The government, in an attempt to limit fuel consumption, came up with fancy slogans like "Fifty is Thrifty" and "Speed Kills" in order to justify the lower...
We have been happily living on QE transfusions for the better part of 4 years. These pain killers have made the healing from our crisis not just tolerable, but actually quite enjoyable (at least for those that sipped the cocktail). That said, the drink has many side...
Non-traditional monetary policy is working across developed markets to heal the wounds incurred during our global financial crisis. Risk free real rates have been driven aggressively lower, and the portfolio balance channel has forced investors out of less productive...
Days like Thursday are simply beautiful: Blues +15 Spoos +25 Gold -17 It had been one heck of a pull back in our long time favorite trade - spoos and blues. So a healthy 3 percent upmove, which brought us back to +12% YTD, felt like a major victory after some...
Days like Thursday are simply beautiful: Blues +15 Spoos +25 Gold -17 It had been one heck of a pull back in our long time favorite trade - spoos and blues. So a healthy 3 percent upmove, which brought us back to +12% YTD, felt like a major victory after some difficult trading conditions in […]
