Author Archives: macromon

Why This QE Is Different In One Chart

Robin Hood traders don’t bother reading. The latest round of central bank balance sheet expansion, which will reaccelerate soon as Biden’s COVID bill is passed, needs some context. By the way, we did some rough approximations late last night and … Continue reading

Posted in Monetary Policy | Tagged | 2 Comments

Global Fixed-Income Market

US Fixed Income Markets vs. Rest of World The U.S. fixed income markets are the largest in the world, comprising 40.0% of the $114 trillion securities outstanding across the globe, or $46 trillion (as of 2Q20). This is 2.0x the … Continue reading

Posted in Bonds | Tagged | Leave a comment

The Global Semiconductor Shortage

As the coronavirus crisis reshapes supply and demand, chip companies are scrambling. And if there’s an industry that can’t simply ramp up production in a hurry, or ask clients to do without their product for a while, or shift around … Continue reading

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Republicans Attack Dogs

Couldn’t decide on the title of this post: Republicans Attack Dogs or Republican Attack Dogs?   Went with the former to mock the SOS from the GOP.  Same MO different President. It’s not surprising that a man called Saint Bernard once … Continue reading

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Ready For 4 Percent CPI By Mid-Year?

Starting to hear lots of talk about inflation these days, something we have been seeing in the pipeline for the past six months. Input price inflation accelerated to a near-decade high in January. Costs increased to the greatest extent since … Continue reading

Posted in Employment, Equities, Inflation/Deflation | Tagged , , , | 16 Comments

Hedge Fund Shorts Get Crushed

Posted in Equities | Tagged , | 2 Comments

NorCal Women Rising [To Power]

Sen. Patrick Leahy (D-Vt.), who is set to preside over the impeachment trial of former President Trump, was taken to the hospital Tuesday, his office said in a statement.  Leahy, 80, “was not feeling well” in his Capitol office and examined by the … Continue reading

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Is Peak COVID In?

We think so.  The daily new case curves are turning down and though the death curve will lag for a few weeks, it will also start to turn down soon. Thank, God, we can see the light at the end … Continue reading

Posted in Coronavirus | Tagged | 5 Comments

The Trail of Two GOATs

h/t Carol K. The following video was really touching and reveals the divergent path of the two GOATs.  Can there be two GOATs?  See the tables below. One, facing retirement, seems to be dealing with the reality by playing catch … Continue reading

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Henry “The Hammer” Aaron, R.I.P.

@Carol_6890 @ThinkInTheMorn The Hammer had a layover in L.A. on his way to Tokyo for this HR contest. He asked the Dodgers if he could take BP at the Stadium. I threw one of baseball's "greatest" batting practice that day. … Continue reading

Posted in Sports | Tagged , | 1 Comment