- The piece reads more like an op-ed than a government document. This is surprising and refreshing. - The proposals all seek to reduce the government’s involvement in housing finance market significantly. - The price of a government wrap for MBS will be heading much...
So Axel Weber, the uber-hawk of the ECB, has thrown in the towel and is headed to the dark side. No doubt the conclave of EU finmins leaked that Axel was not going to get the top job and he promptly stormed off in protest. I always thought that his open criticism of...
In early November, a mere 3 months ago, 5 year UST yields were right around 1 percent. There were forecasts of 1.75 percent 10 year USTs in Q1 2011 from some major commercial banks, and others were forecasting 2.5 to 3 trillion in addition Fed LSAPs. In addition, the...
The market has had its feathers ruffled in recent weeks on some seemingly hawkish ECB statements combined with stronger Euro PMI and inflation data. The 2yr German yield rose from 85bps a few weeks ago to 1.50% just before today’s ECB meeting. Over the same time...
It was only 3 months ago that the unwind of bond market lunacy began. Back in early November 2010 most pundits were still discussing the US lost decade and many were forecasting 1 handles on 10 year yields in 2011. There was a relentless flow of negative discourse...
It was only 3 months ago that the unwind of bond market lunacy began. Back in early November 2010 most pundits were still discussing the US lost decade and many were forecasting 1 handles on 10 year yields in 2011. There was a relentless flow of negative discourse from both the usual suspects as we […]
