us treasury curve

Credit Doesn’t Care At All What the FOMC Says

The stock market takes off in holiday celebration of the FOMC being even less clear than it really has been in some time; perhaps going all the way back to Alan Greenspan’s intentional mush. Equity “investors” are happy that the Fed may be happy about the economy, even though there is nothing in actual markets (outside of stocks) to suggest [...]

Crisis Comparisons In Credit Grow Louder

By Jeffrey P. Snider|2014-12-09T12:41:35-05:00December 9th, 2014|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

“Dollar” credit markets are completely unconvinced by the Establishment Survey that economic growth is at hand. Not only has this bearish/tightening trend been in place for over a year, uninterrupted too, it has actually picked up in the wake of last week’s “unquestionable” payroll expansion. The bearishness continues on all fronts, in tandem with oil prices which is not a [...]

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