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treasury markets

Economists Try To Calculate The Wages of Angels Dancing On Pinheads

By |2014-08-05T14:10:12-04:00August 5th, 2014|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Janet Yellen began the debate, loosely termed, when she classified recent CPI and other measures of price changes as “noisy.” That created sort of an odd wedge between the FOMC policymaking orthodoxy and the wider set of orthodox economists that typically share the same exact dispositions on everything (especially since one feeds the other). The former “need” such badly calibrated [...]

Curves Cannot Invert Now, But They Can Still Speak

By |2014-07-16T12:23:11-04:00July 16th, 2014|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Now that Janet Yellen is back in the spotlight trying to convince the world that everything is good and nearly normal, credit markets continue to persist in another frame of reference. The good Chairman might be herself convinced (though I have doubts about what she really thinks) of what she determines as a the “central tendency”, but past central tendency [...]

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