As I watched Mario's presser yesterday I could not help but think of that infamous scene from "Austin Powers: International Man of Mystery" where Dr Evil announces his plan to hold the world hostage for....."one million dollars". Mario spoke with an unusual level of...
This Thursday the serial dissappointers at the ECB have set the stage for some aggressive action. We have heard noises about targeted long-term LTROs, a cessation of sterilization from SMP purchases, lower refi rates, and negative deposit rates. So far the market has...
The movie "Words and Pictures", starring Clive Owen and Juliette Binoche, is a must see! The acting and directing are first rate. And while I do not want to spoil the movie for anyone who has yet to see it, I do want to bring the plot line into a discussion today on...
Its amazing what passes for amazing these days! The US fixed income markets have been mesmerized by a 50bps move in 10yr notes. Yes, it appears somehow that a 50bps drop, from 3.00% to 2.50%, over the first 5 months of 2014 is somehow worthy of great excitement!!! To...
I wonder what the haters will latch onto next. The list of things to fret about in 2014 has been seemingly endless - Russian aggression, US underemployment, cold weather, soft Q1 data, Chinese credit, demographics, inequality, entitlements, tapering, credit bubbles...
Way back in the Greenspan era, there was a term which was often used to describe imprecise FedSpeak - it was called "purposeful obfuscation". Alan Greenspan perfected this art of confusion over his 18+ year tenure as Chairman. When asked by layman lawmakers about...
Way back in the Greenspan era, there was a term which was often used to describe imprecise FedSpeak - it was called "purposeful obfuscation". Alan Greenspan perfected this art of confusion over his 18+ year tenure as Chairman. When asked by layman lawmakers about future rate moves he would basically ramble incoherently, throw down some […]
