Tag Archives: QE

Who Is Funding The U.S. Budget Deficit?

Posted on September 20, 2018 by macromon

Here is a little teaser for our coming post on the Treasury market, which should be out tomorrow.  The latest data is from the Flow of Funds just posted by the Federal Reserve Board (FRB). Note,  less gold (Fed) and … Continue reading →

Posted in Capital Flows, Charts, Debt, Fiscal Policy, Politics, Uncategorized | Tagged , , , | Leave a comment

Charts That Count: QE QED

Posted on September 10, 2018 by macromon

Since the collapse of Lehman Brothers the story of the world’s attempts to stop the financial crisis turning into a Great Depression has been dominated by central banks’ balance sheets. John Authers describes how this averted total disaster and sparked … Continue reading →

Posted in Economics, Interest Rates, Monetary Policy, Uncategorized | Tagged , , , | Leave a comment

ECB to end stimulus programme later this year

Posted on June 14, 2018 by macromon

ECB President Mario Draghi admitted the eurozone recovery has slowed and kept record low interest rates unchanged… READ MORE : http://www.euronews.com/2018/06/14/ec…

Posted in ECB, Monetary Policy, Uncategorized | Tagged , , , , | Leave a comment

QE And The Laurel vs. Yanny Distortion

Posted on June 4, 2018 by macromon

Interesting clip from Wired,  interviewing  a neuroscientist explaining how people get the sound Laurel and Yanny name so different. The interview is profound if you take the principles and apply them to the markets.  It’s all about reading the correct … Continue reading →

Posted in Interest Rates, Monetary Policy, Uncategorized | Tagged , , , , , | 14 Comments

QOTD: Druck On Distorted Interest Rates

Posted on May 13, 2018 by macromon

…today we have settled to allowing the most important price of all, long-term interest rates, to be regularly distorted by public intervention. …If I were trying to create a deflationary bust, I would do exact exactly what the world’s central … Continue reading →

Posted in Bonds, Budget Deficit, Economics, Interest Rates, Quote of the Day, Uncategorized | Tagged , , , | Leave a comment

Cleveland Fed Dishes On Yield Curve Signal

Posted on April 2, 2018 by macromon

Check out the latest from the Cleveland Fed president,  Loretta Mester: Mester advised that there is “no evidence” for thinking that a flatter curve signals a weaker economy at this time, Reuters reported. She added that “structural factors,” such as bond-buying by central … Continue reading →

Posted in Bonds, Fed, Monetary Policy, Uncategorized | Tagged , , , , | Leave a comment

What Keeps Us Up At Night…

Posted on March 29, 2018 by macromon

This could end America’s free-ride:  no more QE;  no more balance of payments deficits without tears;  and no more foreign financing of the U.S. budget deficit. We hope the Administration at least is concerned and has it on their radar. … Continue reading →

Posted in Dollar, Uncategorized | Tagged , , , | 5 Comments

Super Mario’s Problem In One Picture

Posted on August 31, 2017 by macromon

File under “Kafkaesque Markets.” Source:  MacroTourist

Posted in ECB, Euro, Monetary Policy, Uncategorized | Tagged , , , | Leave a comment

Did Janet Yellen Hear Us?

Posted on July 21, 2017 by macromon

In our piece, Reflexivity And Why The Fed Must Sell The Long End, posted on June 13th,  we warned of the dangers of a flattening yield curve based on distorted interest rates due to QE. ..some still look to the badly distorted bond … Continue reading →

Posted in Interest Rate Monitor, Monetary Policy, Uncategorized | Tagged , , , | Leave a comment

The Bonds With A Draghi Tattoo

Posted on June 29, 2017 by macromon

On Tuesday,  June 27th,  Super Mario said this, “Deflationary forces have been replaced by reflationary ones.”  – Mario Draghi And here is how global 10-year bond yields reacted, The German 10-year Bund yield increased 77 percent — OK, from a … Continue reading →

Posted in Bonds, Euro, Uncategorized | Tagged , , | 25 Comments