Monthly Archives: August 2017

Super Mario’s Problem In One Picture

File under “Kafkaesque Markets.” Source:  MacroTourist

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Month in Review – August

Global Stock Indices All emerging markets.   Argentina up on good politics.   China breaking out through strong resistance.  Europe down on strong euro.  India stalls at resistance as RBI warns of a potential stock market bubble.  We are buyers for the … Continue reading

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Immigration: 27% of U.S. Doctors Foreign Born

The shortage of GPs [doctors] in England has been caused by multiple factors, including doctors leaving the profession early because of an increasing workload linked to a rising population. The shortage predates Britain’s vote last year to leave the EU, … Continue reading

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Nominal GDP At 4 Percent, Fed Way Behind Curve

The BEA revised Q2 GDP up this morning, Current-dollar GDP increased 4.0 percent, or $189.0 billion, in the second quarter to a level of $19,246.7  billion. In the first quarter, current-dollar GDP increased 3.3 percent, or $152.2 billion.  –  BEA … Continue reading

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Trannies Reclaim 200-day, KOSPI Bounces

All the major U.S. stocks indices recovered from steep losses, and then some, after the North Korean missile test, though decliners slightly outpaced advancers on the NYSE. The Dow Transports, which led the recent bout of volatility, reclaimed its 200-day … Continue reading

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COTD: Young Adults (18-34) Living At Home

  (COTD = Chart of the Day)                                                             Source:  U.S. Census

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QOTD: North Korea

Game on and, unfortunately, and it’s not just  Donkey Kong! The North Korean crisis seems even more uncertain now and much riskier after Steve Bannon’s comments last week, which may embolden Kim Jong-un to challenge President Trump’s “fire and fury” … Continue reading

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Dollar Index Breaks

DXY Dollar Index breaks below 91.92 Jun.2016 intraday low… Will be new 31-month low? — Simon Ting (@simonting) August 29, 2017

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China Obsessed With Wealth Effect

We discussed the increasing role of the “wealth effect” in U.S. monetary policy and a key driver of aggregate demand in out last post,  The Gold-Bond Correlation And Other Macro Observations. Nothing compared to China, however. Why are investments so … Continue reading

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The Gold-Bond Correlation And Other Macro Observations

We have posted several pieces over this year noting the high correlation of gold and 10-year bond futures. See here, here and here. Here is how the gold ETF (GLD) and the Treasury ETF (TLT) have moved together over various … Continue reading

Posted in Bonds, Gold, Monetary Policy, Uncategorized | Tagged , , , | 10 Comments