In my last note back on Nov 29th, prior to Jay's Brookings speech and the December FOMC meeting, I penned the following: Looking ahead, I want to recommend ... just riding an outright long spoo position for the time being. I know Jay is likely to be hawkish…, but...
Before I start my first-ever crypto commentary, a couple of housekeeping notes are in order. First, on Dec 7th in New York City I will be hosting a fireside chat with Niall Ferguson. As many readers will remember, Niall and I held a virtual fireside chat in Q1 2022...
Back on 1-Nov-22, just before the last FOMC meeting, I penned the following lines at the end of a note entitled "The Pivot and Financial Instability”: ...we are likely coming in toward the final stages of this tightening move. After this week, there will have been 400...
It's been quite a while since the message in an FOMC statement stood in such sharp contrast to the tone of a press conference. In fact, I cannot remember a time when the dichotomy was greater. One can only surmise that Jay's well-advertised Volckeresque vision for...
It's been quite a while since the message in an FOMC statement stood in such sharp contrast to the tone of a press conference. In fact, I cannot remember a time when the dichotomy was greater. One can only surmise that Jay's well-advertised Volckeresque vision for policy in 2022 now sits much more on the […]
