Category Archives: Black Swan Watch

BFTP: Rare Earth Day 5.0

Posted on May 20, 2019 by

BFTP:  Blast From The Past Wow, here is a blast from the past.  Ahhhh, the daze of trading rare earfs! Watch this one, folks.  It may play big in the trade war with China. Rare earth minerals could be weaponized … Continue reading →

Posted in Black Swan Watch, Commodities, Rare Earth Elements | Tagged , | Leave a comment

We Have Lift Off! (in the $)

Posted on March 7, 2019 by

  Can’t believe that was fiddy years past.  Going to see the new Apollo 11 flick on Saturday with my 15-year old daughter, who wants to be an astrophysicist. Back to biz… The Dixie – “To the Moon, Alice” Another … Continue reading →

Posted in Black Swan Watch, Dollar, Uncategorized | Tagged , , , | 1 Comment

Millennials Rising, Market Risk Increasing

Posted on February 14, 2019 by

Righteous! Check out today’s cover of the Economist.   It confirms our ongoing analysis and illustrates why you should read the Global Macro Monitor, folks. It’s been almost exactly one year to the date since we posted,  Karl, The Comeback Kid?  We warned … Continue reading →

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Hmmmm…

Posted on January 10, 2019 by

I’m focused on the picture in the People’s Daily tweet.  Are those what I think they are? China has been keeping its promises to uphold environmental protection since the first global commitment in 1972. Over 40 years gone by since … Continue reading →

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Deutsche Bank – Nein Schadenfreude

Posted on December 10, 2018 by

Source:   Urban Dictionary  Doing the rounds: Is Deutsche the new Lehman? Social media postings about Deutsche Bank more than quadrupled, and Twitter sentiment is negative. pic.twitter.com/Hq4mgnbQzv — Holger Zschaepitz (@Schuldensuehner) December 10, 2018 Hat tip to Holger for pointing this … Continue reading →

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Where The Next Financial Crisis Begins

Posted on October 25, 2018 by

We are not sure of how the next financial crisis will exactly unfold but reasonably confident it will have its roots in the following analysis.   Maybe it has already begun. The U.S. Treasury market is the center of the financial … Continue reading →

Posted in Black Swan Watch, ECB, Fed, Uncategorized | Tagged , , | 33 Comments

The Taiwan Strait Getting Hot, Hot, Hot…

Posted on October 21, 2018 by

We posted the following in July after President Trump threw Montenegro under the bus. Taiwan may be about to get hot, hot, hot in the next year after last night’s Commander in Chief’s ambiguous message on defense treaties.  – GMM One … Continue reading →

Posted in Black Swan Watch, China, Uncategorized | Tagged , , | 22 Comments

On This Day In History: The Fed Put Is Born

Posted on October 19, 2018 by

Or, at least, went into labor.     Wow,  three decades and one year today, I was a young economist at the World Bank.  My friend and I, now the chief economist at the FDIC, were graduate students and walked … Continue reading →

Posted in Black Swan Watch, Equities, Uncategorized | Tagged | 35 Comments

The Gathering Storm In The Treasury Market

Posted on September 21, 2018 by

Summary Our analysis provides kind of a Grand Unified Theory (GUT) of what is currently taking place in global financial markets The massive borrowing by the U.S. Treasury is crowding out emerging markets capital flows The structural factors that have kept long-term … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Capital Flows, Emerging Markets, Fiscal Policy, Interest Rates, Uncategorized | Tagged , , | 54 Comments

Long-Term Treasury: 4 Percent Or Bust

Posted on September 17, 2018 by

Great chart from Charlie B.   He asked 3.5 or 2.5 percent? We say beeline to 4 percent, when the rate breaks 3.13 percent, and quicker than the market believes. It’s been 10 years since Lehman,  nominal GDP is growing close … Continue reading →

Posted in Black Swan Watch, Bonds, Interest Rates, Uncategorized | Tagged | 1 Comment