Financial repression and reflation are working. The Fed has made it painful to hold short term nominal risk free assets and cash USDs. They have implored us all to take risk in the hopes that it will generate real returns and real growth. And while the jury is still...
Today in NYC we are hosting our inaugural Jefferies Global Macro Event. I'm looking forward to seeing many of you later today. The featured panelist/speaker will be Marty Feldstein. These are the questions that will frame our discussion. It should be a very...
Two excerpts from tonight's speech are below - not so nice reading for FNCL6s and money center commercial bank stocks!! 1. ".....responsible homeowners shouldn't have to sit and wait for the housing market to hit bottom to get some relief. That's why I'm sending this...
Last week, in a commentary entitled “Banklords, Deadweight Losses and the Bernanke Risk Reversal”, we touched on the idea that 2012 will not just see the traditional execution of the “Bernanke Put”, but it will usher in a new era of “Bernanke Call” execution. Recall...
So the 2006 transcripts from the FOMC meetings are out. We do not have Bluebooks or Greenbooks yet, so it’s tough sledding through some of the commentary, but there is still plenty to chew on. Of course, Jan 2006 was Greenspan’s last meeting so if anyone wants to see...
The best way to get into the heads of the leaders around the FOMC table is to read this - http://federalreserve.gov/publications/other-reports/files/housing-white-paper-20120104.pdf Housing tops the list of concerns at the Fed, and this "unsolicited" report to...
The best way to get into the heads of the leaders around the FOMC table is to read this - http://federalreserve.gov/publications/other-reports/files/housing-white-paper-20120104.pdf Housing tops the list of concerns at the Fed, and this "unsolicited" report to Congress placed all their housing cards on the table. To be sure, many in Congress (Senators Hatch, Corker etc.) do […]
