Tag Archives: U.S. Budget Deficits

Free Ride Is Over: China & Japan Bailing On Treasuries

Posted on October 17, 2018 by macromon

We had a request to look at the annual change in foreign holdings of U.S. Treasury securities as an addendum to our post from last night. It’s clear the two largest foreign creditors to the United States government are pulling … Continue reading →

Posted in Bonds, Capital Flows, China, Japan, Uncategorized | Tagged , , , | Leave a comment

Upward Pressure On Interest Rates To Continue

Posted on March 10, 2018 by macromon

Though wage inflation came in nice and cool on Friday,  the following chart illustrates why upward pressure on long-term interest rates will continue.   We updated our Who’s Funding The U.S. Budget Deficit chart with the just released Flow of Funds … Continue reading →

Posted in Inflation/Deflation, Interest Rates, Uncategorized | Tagged , , , | Leave a comment

Stocks And Bonds Now Joined At The Hip

Posted on February 25, 2018 by macromon

Market Recovery The U.S. stock market rallied Friday on the six bps decline in the 10-year Treasury yield.  The S&P500 has now recovered 63.09 percent of its peak-to-low loss.  We are looking for 2,805 on the S&P500 for a green … Continue reading →

Posted in Bonds, Equities, Sovereign Debt, Uncategorized | Tagged , , , | Leave a comment

U.S. Macro in Three Charts: Credit Flows

Posted on June 13, 2011 by macromon

The U.S. is suffering from insufficient aggregate demand the result of the bursting of the 2004-07 credit bubble.   The consumer led economy financed by borrowing, much of it backed by home equity,  has given way to massive private sector deleveraging … Continue reading →

Posted in Economics, Fiscal Policy, Monetary Policy, Sovereign Debt, State and Local Government | Tagged , , , | 3 Comments