Monthly Archives: March 2017

QOTD: Tokyo’s Real Estate Bubble of the 1980’s

Posted on March 30, 2017 by macromon

Nice follow-up quote from our last post on federal land holdings and assets.  U.S. government praying for a land bubble?  Just yanking your Markov chain. At the peak of the real estate bubble in the late 1980s, the 1.32 square … Continue reading →

Posted in Japan, Real Estate | Tagged , , | Leave a comment

Is the U.S. Government Bankrupt? Not Even Close.

Posted on March 30, 2017 by macromon

We often hear the meme “the U.S. is the next Greece.”   “The government is insolvent.”  Complete nonsense. We tend to focus too much on the right side of the government’s balance sheet and not the left side — the … Continue reading →

Posted in Fiscal Policy, Sovereign Debt | Tagged , , | 5 Comments

The Great Recession, Debt Growth, and Economic Policy

Posted on March 30, 2017 by macromon

Look no further than the latest Flow of Funds data from the Federal Reserve Board to get a snapshot of what’s happened in the U.S. economy during the new millennium. Because “credit is the mother’s milk of the economy” let’s … Continue reading →

Posted in Economics, Politics, Uncategorized | Tagged | 2 Comments

Trafigura on oil outlook – FT

Posted on March 28, 2017 by macromon

The FT’s Neil Hume speaks to Jeremy Weir, chief executive of Trafigura – one of the world’s biggest oil traders – about the outlook for the market and the price of oil. ► Subscribe to the Financial Times on YouTube: … Continue reading →

Posted in Crude Oil | Tagged , , | Leave a comment

Yield Curve Flattens Back To Election Day Low

Posted on March 27, 2017 by macromon

The 10-year minus 2-year yield spread closed today at 1.12 basis points, back to the election day low.   All the steepening of the yield curve since the election day, widening out to 1.34 in December,  has vanished. We don’t think … Continue reading →

Posted in Bonds, Uncategorized | Tagged , | Leave a comment

A Country Off Sides Politically

Posted on March 27, 2017 by macromon

Is it just us or do you feel the same political angst that seems to be pervasive throughout the country that we do?   Things not only feel surreal but there seems to be a prevailing sense of eeriness haunting our … Continue reading →

Posted in Policy, Politics | Tagged , , | 1 Comment

French Oat-German Bund 10-year Spread

Posted on March 25, 2017 by macromon

The Oat-Bund spread came in 8 bps last week probably on the back of a new poll showing the centrist. Emmanuel Macron, gaining ground. Macron is opening it up in second round polling, 30 points ahead of Le Pen,  but … Continue reading →

Posted in Eurozone Sovereign Spreads, France, Germany, Politics | Tagged , , , | Leave a comment

US Sector ETF Performance – March 24

Posted on March 25, 2017 by macromon
Posted in Sector ETF Peformance | Tagged | Leave a comment

Global Risk Monitor – March 24

Posted on March 25, 2017 by macromon

Click on table to enlarge and for better resolution

Posted in Daily Risk Monitor | Tagged , , , , , | Leave a comment

A Few Thoughts On Why Health Care Went Down

Posted on March 25, 2017 by macromon

OK, comrades, let’s check our partisanship at the door and deal with some real analysis on the health care bill that just went down in flames. Here are a few of our thoughts on why the Trump/Ryan healthcare bill to … Continue reading →

Posted in Policy, Politics, Uncategorized | Tagged , | 16 Comments