Yearly Archives: 2017

QOTD: France’s Presidential Election

Posted on February 9, 2017 by macromon

In the first round you vote for the person you want; in the second you vote against the person you fear. – The Spectator

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The Clash of Generations Cometh

Posted on February 8, 2017 by macromon

The Times They Are a-Changin’, Come mothers and fathers Throughout the land And don’t criticize What you can’t understand Your sons and your daughters Are beyond your command Your old road is rapidly agein’ Please get outta’ the new one … Continue reading →

Posted in Politics | Tagged , | 19 Comments

European bonds suffer from uncertainty – FT

Posted on February 8, 2017 by macromon

Keep some powder dry to buy the French Dip.    That is,  the market panic over the  Euro elections,  if there is one. The French will hold the populist “Maginot Line” and Le Pen will lose in the second round, “bigly“.  … Continue reading →

Posted in Eurozone Sovereign Spreads, Politics, Sovereign Risk, Uncategorized | Tagged , , , | Leave a comment

Map of the Day: Export Markets

Posted on February 8, 2017 by macromon

Notice any trend or clusters?  Who gets hurt as global trade declines? Source:  Fascinating Maps

Posted in China, German Bund | Tagged , , | 2 Comments

Talking ’bout Mexico – JT

Posted on February 7, 2017 by macromon

So King David at thinkinthemorning.com sends over an article showing U.S. stocks with revenue exposure to Mexico.   Starts us thinking about who is smarter,  equity traders or currency traders,  who follows who,  or who is fooled by randomness? . … Continue reading →

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U.S. GDP: The Real Estate Economy

Posted on February 7, 2017 by macromon

Interesting data that even surprised us.  The real estate sector is now the largest sector of U.S. economy.   Real estate is a sub-category of the BEA’s  industry group, Finance, insurance, real estate, rental, and leasing.   Could it be one of … Continue reading →

Posted in Economics | Tagged , , | 1 Comment

The Proposed Border Tax’s Costs Outstrip Its Benefits – PIIE

Posted on February 7, 2017 by macromon

Published on Feb 7, 2017 Adam S. Posen outlines the potential gains from a proposed corporate tax overhaul but says the costs, especially to lower income groups, outweigh the benefits. .

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What Really Keeps Us Up At Night – Do The Math

Posted on February 6, 2017 by macromon

Lots of these being drawn up by the new U.S. administration. The one that scares us most is this: Mattis: US will defend Japanese islands claimed by China – CNN And today we hear this: China sails warships near islands … Continue reading →

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Tremors in the Eurozone (Again)

Posted on February 6, 2017 by macromon

The France OAT-German Bund 10-year blew out another 12 bps today.  This is off our charts going back to December 2012.   The FT reports, “Markets underpriced the political risks in 2016 and they are determined not to do the … Continue reading →

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French Oat-German Bund 10-year Spread

Posted on February 5, 2017 by macromon

Starting to get interesting.   The French 10-year Oat- German 10-year bund spread widened and closed at its highest level since January 2014 on Friday.  Francois Fillon has dropped like a stone in the past few weeks as the political scandal … Continue reading →

Posted in Bonds, Eurozone Sovereign Spreads, France, Uncategorized | Tagged , | 1 Comment