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In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.
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Monthly Archives: August 2019
The Short-Term Heavy Treasury Curve
Before reading further we suggest you look at our latest post, The Perversion Of The Yield Curve Inversion, for some context. Gravitational Pull Toward Curve Flattening And Inversions Note the structure of the Treasury curve in terms of the amount of … Continue reading
The Perversion Of The Yield Curve Inversion
We should be on vacation but it never fails that volatility spikes as soon as we leave our desk. It must be the Ides Of August. Wait, it is. Et tu Brutal! Nevertheless, we can’t help ourselves and have to … Continue reading
Posted in Bonds, Fed, Uncategorized
Tagged Committee To Save The World, Yield Curve inversion
3 Comments
More Monetary Insanity & The Negative Yielding Bond Bubble
Had to get this last one in before we hit the surf. We like to look at the Cleveland Fed’s Median CPI calculation as it removes monthly outliers that can pull the averages up or down. It hit a 10-year … Continue reading
It’s That Time…
Time for the summer holiday, folks. Happy hunting. See you in September.
Posted in Uncategorized
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Deep Fakes Seem So Real…
Stunning. Imagine how these will be weaponized in the 2020 presidential campaign. I watched this video last night and it's still freaking me out. A deep fake where Bill Hader *turns into* Tom Cruise and Seth Rogan *while impersonating them*. … Continue reading
Posted in Uncategorized
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The Global Consequences Of A Narcistic And Incompetent POTUS
The world is starting to move sideways. The market talking heads are so clueless. It’s almost laughable listening to them trying to explain away in isolation how the pieces of the puzzle are starting to converge that will or already … Continue reading
Posted in Economics, Geopolitical, Uncategorized
2 Comments
Negative Yields Versus Negative Coupon Rates
There is a big difference between a bond with a negative yield to maturity than a bond with a negative coupon rate. Many in the market conflate the two. We are searching for bonds that pay a negative coupon rate. … Continue reading
“Rent Control” Problems Emerging In Bond Auctions
Hat Tip: Gregory Mannarino @GregMannarino The bid-to-cover ratio, indicative of the number of investors who put in offers to buy the debt and a gauge of demand, stood at 2.19. That is down from the 2.4 recorded in the last sale … Continue reading
The Good Ol’ Daze…
I loved this commercial when everyone was a stock market genius back in the late 1990’s, that time was different, and eyeballs trumped earnings. Let's Light This Candle #1999 https://t.co/uM7qM6RjuR — Rudy Havenstein, Smiling Politely (@RudyHavenstein) June 23, 2015
Posted in Uncategorized
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