eurodollar standard

Three Stages of Gold

By |2018-10-23T16:53:25-04:00October 23rd, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For days after China shocked the world in August 2015, “devaluing” its currency seemingly out of nowhere, there was only confusion as to what had just happened. Going by nothing more than the mainstream media and economic narrative fed to it by central bankers and Economists (redundant), you wouldn’t have known anything was wrong at [...]

Canada Trade, Plain and Simple

By |2018-10-23T12:25:36-04:00October 23rd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Bank of Canada held its benchmark overnight rate steady at its last meeting in early September. Like the Federal Reserve, Canada’s central bank has been “tightening.” The policy lever had been lifted four times starting in July 2017. It is expected that when monetary officials meet in Ottawa tomorrow they will vote for a [...]

China’s Economy Is Not Crashing, It’s Worse Than That

By |2018-10-19T11:50:19-04:00October 19th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

China’s economy is not crashing. Hyperbole works both ways. Last year and this, the smallest increment above a prior number was broadcast out as the greatest thing ever (US wage growth in particular), irrefutable proof of globally synchronized growth. Now that that’s over with, largely, there will be a tendency toward the other extreme. The [...]

The Aid of TIC In Sorting Shorts and Shortages

By |2018-10-17T11:58:06-04:00October 17th, 2018|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Asians are selling their Treasuries again, which can only mean one thing. The mainstream media will offer all sorts of explanations as to why that might be and not a single one will be correct. China and Japan are offloading US$ assets primarily federal government debt for vastly different reasons. Their decisions spring from [...]

TIC Confirms Pretty Much Everything

By |2018-07-18T17:39:55-04:00July 18th, 2018|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Russian ruble has fared far and away much better than its EM peers. Compared to something like the Brazilian real, there is no comparison. The ruble has been relatively steady following an initial drop in April with the imposition of sanctions. April 19 came and went, and while that date is displayed prominently across [...]

Curves Have Been Here The Whole Time, Not That Anyone Cared

By |2018-07-10T19:07:04-04:00July 10th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Whether we notice them or not, there are a lot of things that do happen on a seasonal basis. Economists have tried to eliminate these patterns from our thoughts and analysis largely by smoothing them out with seasonal adjustments. But in money as markets there remain these bottlenecks. People have asked me from time to [...]

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