Category Archives: Monetary Policy

Cue Up Gold

Posted on July 25, 2012 by macromon

After the Hilsenrath QE story, which broke in the last hour of yesterday’s equity session,  gold has started its move.  It’s up over $20 today  breaking out of a symmetric triangle formation. We believe is gold is driven primarily by … Continue reading →

Posted in Gold, Monetary Policy | Tagged , , | 1 Comment

ECB’s Draghi Statement on 25 bps Rate Cut

Posted on July 5, 2012 by macromon

Looks like gold was looking for a little more than 25 bps, especially after strong initial claims, ADP, and the big move in the dollar. (click here if video is not observable)

Posted in Economics, Euro, Monetary Policy | Tagged , , | Leave a comment

Bernanke & Data Disappoint Goldbugs

Posted on June 7, 2012 by macromon

You can see from the chart that gold starting selling off right around the release of the Beige Book yesterday, “Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period … Continue reading →

Posted in Gold, Monetary Policy | Tagged , , , , | 1 Comment

Gold In Full Blown QE Mode

Posted on June 6, 2012 by macromon

Gold is a weird cat with multiple personalities and more than nine lives.  The yellow metal is up almost $100 since last Friday’s weak U.S. employment report. At any given time period  gold will assume any one of its multiple … Continue reading →

Posted in China, Gold, Inflation/Deflation, Monetary Policy | Tagged , , | 3 Comments

Dude, Where Is Food and Crude?

Posted on May 28, 2012 by macromon

Now these are the tax cuts we like!   Especially because the big flop in food prices directly benefits the poor (x/ farmers) more than anyone else. Thus far, these are relative price shifts and and not a sign of general … Continue reading →

Posted in Crude Oil, Food Prices, Monetary Policy | Tagged , , , | Leave a comment

Facebook as the “Ultimate Black Swan”

Posted on May 20, 2012 by macromon

We have half joked about this on Friday after a ton of the Facebook traded around its IPO price of $38 and no doubt many of the shares came back to the Street.   Oliver Stone couldn’t write a better script. … Continue reading →

Posted in Black Swan Watch, Monetary Policy | Tagged , , , | 2 Comments

Bernanke in a Romney Fed?

Posted on April 26, 2012 by macromon

(click here if video is not observable)

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Inflation Convergence and Real Earnings

Posted on April 16, 2012 by macromon

The BLS chart clearly illustrates the convergence of core (x/ food and energy) inflation and all items.   Core inflation is up 2.3 percent y/y, which is a little hot given its recent history.  Here’s the BLS commentary, The index … Continue reading →

Posted in Black Swan Watch, Economics, Employment, Inflation/Deflation, Monetary Policy | Tagged , , , , | Leave a comment

Markets Want More FED “Crack” – Harry Dent

Posted on April 4, 2012 by macromon

Harry Dent does a pretty good job in ‘splaining today’s risk sell-off, in our opinion. We’re beginning to sense, however, the markets are awakening to the fact the U.S. government is going to have a funding problem. As the world … Continue reading →

Posted in Black Swan Watch, Budget Deficit, Gold, Japan, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , , , , , , | Leave a comment

CNBC Interviews Jim Grant

Posted on March 29, 2012 by macromon

In case you missed this fascinating interview with Jim Grant. He plans to open the “Office of Unintended Consequences” when he is appointed Fed Chairman. The money quote, “All of us investors live and work in kind of a hall … Continue reading →

Posted in Monetary Policy, Video, Whales | Tagged , , | Leave a comment