Category Archives: Uncategorized

The U.S. Treasury released its TIC data this afternoon, which confirmed our priors that foreign central banks continue to sell off their Treasury holdings, down $98.4 billion in March and -$135.4 billion over the past 12 months.   Surprisingly, Japan was … Continue reading →

#CKStrong GMM will be going dark for a few weeks. Watch This Space We are waiting anxiously for Monday’s U.S. Treasury release of the TIC data, particularly the major foreign holdings of U.S. Treasury securities. We are closely monitoring the foreign … Continue reading →

#CKStrong The U.S. budget deficit (12-month trailing) has fallen from almost 20 percent of GDP in Q1 2021 — most of which was indirectly financed by the Fed and an increase in Treasury bill issuance — to our estimate of … Continue reading →

#CKStrong Apple’s air pod revenues alone generated $23.05 billion in revenue during their 2020 financial year – this is more revenue than Twitter, Spotify and Square combined. It gives Netflix’s entire business a run for its money as well – … Continue reading →

#CKStrong Those are the words of Matthew Shay, the CEO of the world’s largest retail trade association on CNBC today (1:07 minutes in).   Does that sound familiar, folks?  Mr. Shay notes the consumer remains strong despite the recent inflation spike.  … Continue reading →

#CKStrong Updated:  Post-CPI release @ 9:12 pm PT,  May 11, 2022  But the Fed seems to be learning lessons from its 2021 experience. – NY Times The Fed is under a lot of heat for letting inflation get out of … Continue reading →

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#CkStrong When your fave local coffee house has eliminated the 15 percent gratuity option on Square. That is today relative to a fortnight ago, folks. Racking my brain to find the Gruatity supply chain disruption here. Anyone? Classic case of … Continue reading →

#CKStrong America’s Federal Reserve has suffered a hair-raising loss of control.  – Economist