Below, I have put the Ben Bernanke op-ed piece from yesterday into a format that should be a little more transparent. Rather than an article, I have reformatted it as an open letter to the key holders of US sovereign debt. Dear Global Reserve Asset Managers, I regret...
The most important part of yesterday's fed announcement came this morning during Asian trading (maybe I should always plan to travel around Asia on fomc days). Around 9am Singapore time, Ben released an op-ed piece in the Washington post to clarify the fomc actions....
The statement suggests the Fed is going to focus on the 2-10 year sector. Long maturity bonds will struggle after this announcement. The 600 number gives them a "more aggressive" ease relative to expectations, especially with a commitment through Q2 2011. The...
It’s a big week for the US - landmark elections, epic monetary policy changes and of course a host of key economic data releases culminating with payrolls. The tone for year-end (and probably even 2011) will almost surely be set this week! Resolving the current...
It’s been a whirlwind tour through Austin, San Antonio, Houston and Dallas. Trying to find time to write has been difficult. But I wanted get some quick thoughts out as the market moves are starting to get very interesting. Most importantly, we are now almost back to...
It’s been a whirlwind tour through Austin, San Antonio, Houston and Dallas. Trying to find time to write has been difficult. But I wanted get some quick thoughts out as the market moves are starting to get very interesting. Most importantly, we are now almost back to pre Aug-10 FOMC meeting yield levels in cash […]
