Tag Archives: Monetary Policy

Is Gold Just a Fear Trade?

Posted on December 19, 2010 by macromon

We hear a lot of noise today about how fear is dissipating with the collapse of the VIX and that the gold trade is therefore over.  This motivated us to look at how the GLD trades with big moves in … Continue reading →

Posted in Gold, Monetary Policy | Tagged , , | 3 Comments

Fed Ownership of the U.S Treasury Curve

Posted on December 14, 2010 by macromon

Here’s an interesting chart we threw together showing the Fed’s ownership of Treasury securities maturing in each year on the curve.  There are no bonds maturing in 2032-35 due to the temporary discontinuance of the 30-year earlier in the millennium, … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Credit, Economics, Fiscal Policy, Monetary Policy, Policy, Politics, Sovereign Debt, Sovereign Risk | Tagged , , , , | 9 Comments

“A money-financed tax cut is…[a] ‘helicopter drop’ of money”

Posted on December 9, 2010 by macromon

Wow!  Sounds a lot like what the President and Congress just negotiated, no?  Tax cuts financed by QE2 and a possible QE3?  Break out the Apaches! Here is the excerpt from his famous  helicopter speech, given at the National Economist … Continue reading →

Posted in Budget Deficit, Commodities, Gold, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , , , | 4 Comments

Reserve Bank of Australia Monetary Policy Decision

Posted on December 6, 2010 by macromon

Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 4.75 per cent. Since the previous Board meeting, concerns about the creditworthiness of a number of European governments have … Continue reading →

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IMF – U.S. monetary policy drives global stock prices

Posted on December 6, 2010 by macromon

A recently published paper by the International Monetary Fund (IMF) found that U.S. monetary policy shocks drive global stock market prices. (click here for paper) The International Business Times sums up the study, When the Fed tightens (loosens) monetary policy, … Continue reading →

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Bernanke’s 60 Minutes Interview

Posted on December 5, 2010 by macromon

In case you missed it.

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

Global Central Bank Watch

Posted on December 4, 2010 by macromon

This Week Reserve Bank of Australia; Bank of Canada; Reserve Bank of New Zealand; Bank of England. Past Week: Rate Hikes – Pakistan +50bps; Hungary +25bps; Thailand +25bps; Other – Brazil increased the reserve requirements on term deposits to 20% … Continue reading →

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Republicans Pound Fed, “Lasso” Gold Rally

Posted on November 17, 2010 by macromon

On September 30th we wrote (click here)  of the “hard money inclinations” of the Republicans and how a electoral victory may put pressure on the Federal Reserve to reign in their money printing.  On election night, we also posted the … Continue reading →

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G20 Risk: “China says G20 should monitor US Fed” – SMH

Posted on November 9, 2010 by macromon

Though the ugly bond auction got the headline, there’ s no doubt part of this afternoon’s reversal in many key stocks and commodities was partially caused by concern the G20 may turn into a fiasco as members use the occasion … Continue reading →

Posted in Commodities, Equities, Gold | Tagged , , , , | Leave a comment

Quote of the Day

Posted on November 6, 2010 by macromon

I predict that the unemployed in this country who will face the inevitable inflation of this money-printing will find little joy in watching Indonesian stocks rise further.  – Howard  Simons

Posted in China, Commodities, Currency, Monetary Policy | Tagged , , | Leave a comment