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Category Archives: Monetary Policy
Is the Fed Contributing to the Credit/Mortgage Crunch?
One of the smartest hedge fund managers we know spends most of his day locked away in his office analyzing how the market consensus could be wrong. He hangs with au contraire crowd, breaking bread with contrarians and demands you … Continue reading
Posted in Black Swan Watch, Bonds, Budget Deficit, Monetary Policy
Tagged Federal Reserve, Monetary Policy, Operation Twist, ZIRP
14 Comments
Disintermediation in China’s Banking System
The consequences of negative real interest rates and financial repression. We know how this story ends. Keep this one on your radar. (click here if video is not observable)
The Current State of the Market in a Sea of Volatility
The picture below really captures the volatility of the current market and how traders must remain detached like the Coast Guard cutter closely monitoring how the ship (market) is listing. When too many are standing on one side of the … Continue reading
Connect the Carry Trades
Wow! This chart from the Economist looks like one of those elementary school exams where you draw lines to connect the best match. So, our friends, a few questions. Which rates are the result of financial repression, capital flows, and/or … Continue reading
Posted in Bonds, Charts, Monetary Policy, PIIGS, Sovereign Debt
Tagged Government Bond Yields, Interest rates
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Dangerous Merkel-Sarkozy Spin
Interesting read by some traders on the Merkel/Sarkozy nonevent. Their take away is both leaders sent a message to the PIIGS to either get on board with fiscal adjustment or leave the Euro. Hmmmm. Now what would that do to … Continue reading
Posted in Black Swan Watch, Monetary Policy, PIIGS
Tagged ECB, Merkel, PIIGS, Sarkozy, Trichet
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PBOC Adviser Urges Central Bank to Diversify Reserves
We find this Bloomberg piece very interesting. Maybe this is where some of the panic buying in gold is coming from. We’ve been pounding the table on this trade. See here and here. Bloomberg writes, China should urgently assess risks … Continue reading
Gold is the New Deutsche Mark
We point you to our piece posted last month here at the Global Macro Monitor, Gold’s Perfect Storm? Nears All-time Closing High Posted on July 12, 2011 by macromon Gold is creeping higher as many believe it is the only place … Continue reading
Posted in Black Swan Watch, Euro, Gold, Monetary Policy, Sovereign Debt, Sovereign Risk
Tagged Banking, Deustche Mark, Euro, Gold
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Ron Paul Fan Club
Wow! Our mailbox was packed with lots of Paulistas coming to the defense of the Congressman over the misinterpretation of our recent post about the bill he introduced to cancel Treasury debt held by the Fed. In no way … Continue reading
H.R. 2768 Would Cancel $1.6 TN in Treasury Debt Held by Fed
The Hill reports Rep. Ron Paul introduced legislation on Monday to cancel the $1.6 trillion of federal government debt held by Federal Reserve. The Hill writes, Paul has argued for the last few weeks that the idea represents a quick … Continue reading
Posted in Monetary Policy, Sovereign Debt
Tagged Federal Reserve, H.R. 2768, Ron Paul, U.S. Treasury Debt
7 Comments
Chart of the Day: Ireland’s Silent Bank Run
We found this great chart posted over at New N Economics by Rebecca Wilder. She points out the non-financial corporates have been fleeing Irish banks since 2007 and households 2010 to the tune of 14 percent of GDP. Irish … Continue reading
Posted in Black Swan Watch, Monetary Policy, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Bank Runs, ECB, Irish Banks
1 Comment
Global Macro Monitor 