jpy

Can We Blame Japan For The Liquidations (and HKD)? Right Now It Sure Seems That Way

By |2018-04-18T18:17:59+00:00April 18th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

February was a very interesting month, wasn’t it? There was the pause or even end of the inflation hysteria driven home by “unexpected” liquidations in markets all over the world. On top of those, LIBOR-OIS blew out and all the absurd explanations put forth for it, and even outright lies. Needless to say (write), I’ve [...]

Was January A More Complete Dollar Inflection?

By |2018-03-19T17:51:35+00:00March 19th, 2018|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Friday, January 26, stocks hit their last record highs. Buoyed by supposedly strong earnings along with near euphoria about tax reform anecdotes, all three major US indices were sitting at their respective tops after another big week. Everything was apparently going in the right direction: All the three key U.S. indexes closed at record levels [...]

Escalation(s) TIC

By |2018-02-16T12:25:48+00:00February 16th, 2018|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

According to the US Treasury Department’s Treasury International Capital (TIC) report, foreign private holders of UST’s had been selling them steadily in the last quarter of last year. Estimates including those just released for December 2017 show a total net reduction of $24 billion. While that’s not a huge number, private overseas interests typically buy [...]

Escalation(s)

By |2018-02-15T18:29:14+00:00February 15th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

This is the Year of the Dog, or it will be starting tomorrow across Asia. Tonight marks the opening of celebrations for China’s Spring Festival Golden Week. These weeklong breaks in Chinese contributions to the global system have over the past few years rarely been so uneventful. Their absence has been noted both good and [...]

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