boj – Alhambra Investments

Macro: PPI — PPI and Powell fuel rally

PPI Goods = -1.5% PPI Services = 2.1% PPI FD = .9% PPI translation to the consumer: PPI FD Personal Consumption = 1.04% PPI FD Personal Consumption less Food and Energy = 2.2% PPI FD Personal Consumption less Food, Energy and Trade Services = 2.9% PPI FD Personal Consumption less Food, Energy and Distributive Services = 3.4% We continue to [...]

You Need NIRP But Because NIRP You Then Need To Lessen NIRP; Or, Just Trust US, This Stuff Just Works

By Jeffrey P. Snider|2020-08-13T19:29:59-04:00August 13th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Bank of Japan has been paying Japanese banks a supplement on loans they collateralize with the central bank. This program is not new, announced first during the depths of COVID earlier this year, but its growing popularity has demanded attention. In addition to this market “support”, in April BoJ added a bonus of 10 bps to each pledged loan.The [...]

Macro: PPI — PPI and Powell fuel rally

You Need NIRP But Because NIRP You Then Need To Lessen NIRP; Or, Just Trust US, This Stuff Just Works

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