Back on Nov 1st, when the NKY was below 9000, I wrote a commentary entitled “A lesson on how to lose central bank independence”. The note highlighted a “curious additional release” on the BoJ website after their October policy meeting entitled “Measures Aimed at...
Interpreting the December FOMC statement is not an easy task. The market is still digesting what an explicit 6.5/2.5 "Evans Rule" really means. Is it bullish? Is it bearish? Is there room to miss? Under what conditions would a miss be tolerated? What are the next...
The most interesting story on the global macro horizon has nothing to do with the fiscal cliff, US housing markets, Greece, Argentina, Spain or China. This story has been percolating for decades, and an enormous amount of money has been lost by the global macro...
Black Friday is the annual celebration of American consumerism. The morning after we all sit with our families, gain 5 pounds, and watch some meaningless football match involving the Detroit Lions, we march off to the shops. It starts at 4am as stampedes of fleece...
In Quentin Tarantino's first film, True Romance, the final scene is a classic Mexican standoff. The mob on one side, the cops on another side and a smattering of criminals in the middle. Three parties all ready to take the others down and get out alive. Its a...
In Quentin Tarantino's first film, True Romance, the final scene is a classic Mexican standoff. The mob on one side, the cops on another side and a smattering of criminals in the middle. Three parties all ready to take the others down and get out alive. Its a complicated web of stories that has some […]
