Monthly Archives: September 2017

Global Risk Monitor – September 22

Posted on September 23, 2017 by macromon

 

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The Sermon On The Mount[ain Of Debt]

Posted on September 22, 2017 by macromon

“Blessed are the young, for they shall inherit the national debt.” – President Herbert Hoover The Hoover administration thought there was no room and was ideologically opposed to fiscal expansion to stimulate aggregate demand.  Furthermore, Keynesian theory was not even … Continue reading →

Posted in Debt, Demographics, Uncategorized | Tagged , | 17 Comments

COTD: The Trillion-Dollar Club

Posted on September 21, 2017 by macromon

Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker U.S. dollar. The milestone valuation was reached for the first time on Sept. 19 at 2:01 a.m. in … Continue reading →

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FOMC: A Big Double Cheese Non-Burger

Posted on September 20, 2017 by macromon

Monetary policy history made today. The  Federal Open Market Committee (FOMC)  confirmed it would begin its long-awaited quantitative tightening (QT). In October, the Committee will initiate the balance sheet normalization program described in the June 2017 Addendum to the Committee’s … Continue reading →

Posted in China, Euro, Eurozone Sovereign Spreads, Fed, German Bund, Monetary Policy, Sovereign Debt | Tagged , | 2 Comments

Fed Day With Extremely Loose Financial Conditions

Posted on September 20, 2017 by macromon

Today is the day,  folks. The consensus is the Fed announces the start of quantitative tightening (QT).   History in the making. Draining Liquidity Though monetary tightening officially began in December 2015,  this will be the first time the Fed drains … Continue reading →

Posted in ECB, Economics, Equities, Euro, Fed, Monetary Policy, Uncategorized | Tagged , , , , | 1 Comment

China’s Communist Party Structure

Posted on September 19, 2017 by macromon

We noticed today  someone tweeted an old post from our blog from way back when.  It has an excellent graphic of the structure of China’s Communist Party and its leaders that were selected after the last Party Congress in 2012. … Continue reading →

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COTD: China Levers Up As ROW Does Opposite

Posted on September 19, 2017 by macromon

We knew that credit expansion is the mother’s milk of economic growth,  but even this chart surprised us.   The global nominal private non-financial debt level x/ China has been flat since 2008.   As in flat in nominal terms not as … Continue reading →

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Global Equities: Rockin’ In The Free World

Posted on September 19, 2017 by macromon

Stunning table of the year-to-date returns of country ETFs coming to us via Charlie Bilello at Pension Partners. All the country ETFs are, should we say,  Rockin’ In The Free World, except for Russia, which has turned up and rockin’ the … Continue reading →

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México Fuerte!

Posted on September 19, 2017 by macromon

We are with you our brothers and sisters down in OH MEXICO!  Godspeed. Viva Mexico!     Wow!  So many natural disasters this month it’s starting to get downright biblical! Then there is the weakening of the nation-state as we … Continue reading →

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Week In Review – September 15

Posted on September 17, 2017 by macromon

Global Stock Indices Good week for stocks. Major U.S. major indices closed at record highs.   Brazilian stocks at new highs as traders remain confident President Temer will implement market reforms even though he faces a second round of corruption … Continue reading →

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