Yearly Archives: 2022

That brings us to the other notable part of Putin’s call-up speech: the not-very-veiled nuclear threat. Would he really go that far? There are plenty of reasons to suggest that he wouldn’t. A tactical nuclear strike wouldn’t do much to advance his … Continue reading →

What a historic week in all global markets!

King Of Kings: The U.S. Dollar Capital Flight In EM Safe Haven Currencies Diverge Inflation In Japan, WTF?  Pre-Election Italian Sovereign Spreads Blow Out Chinese Yuan Tanking Treasury Bond ETF (TLT) Suffers Worst Drawdown Logistics Loosening Up U.S. Age Discrimination … Continue reading →

Don’t bank it.  Avoiding a recession is not part of the Fed’s explicit dual mandate.  The Federal Reserve System has been given a dual mandate—pursuing the economic goals of maximum employment and price stability. – St Louis Fed Even after … Continue reading →

We don’t think copper has a Ph.D. in economics but possibly is an ABD.  If you are not buying copper hand-over-fist here, at $3.54 per lbs., you should be. We doubt there is enough copper in the world to electrify … Continue reading →

Don’t be fooled; the 10-year yield is the chart and market indicator to monitor.  The Fed is no longer around to support notes and bonds, the ex-post real yield on the 10-year is still below -3.0 percent, and the spike … Continue reading →

You decide.  The ratio of total US stock market valuation to GDP has been named “The Buffett Indicator” because Warren Buffett – the legendary CEO of Berkshire Hathaway (BRK.A)(BRK.B) – once called it “the best single measure of where valuations stand … Continue reading →

Break out the Tie Dy.

In the past six months, inflation has far exceeded December 2021 expectations. In many countries, actual rates have doubled projections. European countries are particularly affected. For example, inflation in Lithuania is running at 15.5 percent annually, nearly five times the … Continue reading →