Category Archives: Uncategorized

Deep Fakes Seem So Real…

Posted on August 13, 2019 by macromon

Stunning. Imagine how these will be weaponized in the 2020 presidential campaign. I watched this video last night and it's still freaking me out. A deep fake where Bill Hader *turns into* Tom Cruise and Seth Rogan *while impersonating them*. … Continue reading →

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The Global Consequences Of A Narcistic And Incompetent POTUS

Posted on August 12, 2019 by macromon

The world is starting to move sideways. The market talking heads are so clueless. It’s almost laughable listening to them trying to explain away in isolation how the pieces of the puzzle are starting to converge that will or already … Continue reading →

Posted in Economics, Geopolitical, Uncategorized | 2 Comments

Bring It, Richie…

Posted on August 10, 2019 by macromon

It’s dark out, but gotta believe Richie

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Negative Yields Versus Negative Coupon Rates

Posted on August 8, 2019 by macromon

There is a big difference between a bond with a negative yield to maturity than a bond with a negative coupon rate.   Many in the market conflate the two. We are searching for bonds that pay a negative coupon rate.  … Continue reading →

Posted in Bonds, Uncategorized | Tagged , | 13 Comments

“Rent Control” Problems Emerging In Bond Auctions

Posted on August 8, 2019 by macromon

  Hat Tip: Gregory Mannarino  @GregMannarino The bid-to-cover ratio, indicative of the number of investors who put in offers to buy the debt and a gauge of demand, stood at 2.19. That is down from the 2.4 recorded in the last sale … Continue reading →

Posted in Bonds, Uncategorized | Tagged | 4 Comments

The Good Ol’ Daze…

Posted on August 8, 2019 by macromon

I loved this commercial when everyone was a stock market genius back in the late 1990’s, that time was different, and eyeballs trumped earnings. Let's Light This Candle #1999 https://t.co/uM7qM6RjuR — Rudy Havenstein, Senior Markets Commentator. (@RudyHavenstein) June 23, 2015 … Continue reading →

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China Trade Talks And The Cuban Missile Crisis

Posted on August 7, 2019 by macromon

We find it interesting that many accuse us of being China apologists because we have concluded from our analysis long ago that President Trump is taking the wrong approach in dealing with the Middle Kingdom.   No argument here we have … Continue reading →

Posted in Economics, Uncategorized | Tagged , | Leave a comment

My Daughter Is Definitely Not Going To Penn

Posted on August 7, 2019 by macromon

One year to this very day l flew to the east coast to check out colleges with my then 15-year old. Check Penn off the list. The following is from an economics major from the University of Pennsylvania. ….proud to … Continue reading →

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Can Treasury Issue An Additional $1 trn At These Fake Yields?

Posted on August 6, 2019 by macromon

A question has been nagging us for some time.  If the current sovereign yields are repressed and fake, many of which are negative, can the borrowers issue any significant amount of new debt at these current yields?   Especially to long-term … Continue reading →

Posted in Bonds, Uncategorized | Tagged , | 6 Comments

The S&P’s Very Long Top

Posted on August 5, 2019 by macromon

The S&P got whacked again today and is now about 1 percent below its first peak of January 26, 2018, in this very long topping process.  In other words, stocks have gone nowhere for the past 18 months. We believe … Continue reading →

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