Our scorching summer has official ended but fear levels remain red hot. One only needs to look at a chart of the German Bund, the US 10yr, the Greek 2yr, Gold or any money center bank stock price to see that markets are anticipating some catastrophic events this...
A baseball score - probably about right if we played ball, but no. A hockey score - very unlikely. A soccer score - no chance. It is something far more important - it is the number of Nobel prizes in economics that have been awarded to residents of each country. When...
Jackson Hole has come and gone taking spoos up over 4% and 10s up 15bps from their Friday lows. We are clawing back some of the August misery, but there is a lot of pain still out there. The Colonel has work to do, but the good news is he knows it - and that...
So the idea of a calm 2 weeks in Greece in order to recharge the batteries was shattered by the events of the last few weeks. I have tried to stay off the blackberry and get a little R and R, but each day I get drawn back in by the horror movie on the […] You...
A few weeks back I wrote a commentary entitled "Today's exercise - If spoo < X, then QE3. Solve for X". Yesterday's commitment by the Fed to keep the funds rate at an "extraordinarily low level" for 2 years is an ease. Is it a quantitative ease? Not in the sense that...
A few weeks back I wrote a commentary entitled "Today's exercise - If spoo < X, then QE3. Solve for X". Yesterday's commitment by the Fed to keep the funds rate at an "extraordinarily low level" for 2 years is an ease. Is it a quantitative ease? Not in the sense that it is an […]
