Today seemed very mixed. No clear direction. The market generally is all over the shop lately. I think that the bond guys are generally smarter than the equity ones. The slope of the yield curve is a pretty good indicator of whether or not we’re heading down the …
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The NDX is going parabolic again. It’s hard to know why, but a big factor must be $AAPL’s reveal of its 5G phones. Apple is an extraordinary company. It is an object lesson in how good investor relations and marketing generally, and massive share buybacks, can totally …
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Nothing much happens on a Monday morning, normally. Today saw some movement in commodities, mainly, with other assets largely quiet. Precious metals were up (except Platinum), agricultural commodities too, and NG. Oil was down. The FT had a chart for this year so far showing oil price (pretty …
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Commodities are up across the board, oil up >3%, gold up too. All equity markets (that I can see) are green, and all sectors too. Bond yields are imperceptibly lower. People are getting excited about a few bp increase in the 30-year yield. I think we should wait …
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Richer Report gives examples how ZIRP and fiscal suppression is going to do to the residential housing market what it has already done to equities and many other asset classes. Stockman is the first person to warn about this trend. You can read some of his stuff here …
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Trump is trying to row back his threat to abandon talks on stimulus measures with the Dem-controlled Congress. Markets went up. As always.
Kamala Harris & Mike Pence had a dull debate. The polls seem to think that Trump is doomed. I wouldn’t write off the brute yet …
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I have to feel relatively awake and able to concentrate, but when those conditions are fulfilled I like nothing better than to listen to an episode of Macro Musings with David Beckworth. He’s on the fairly obscure podcast app that I use, so yours will almost certainly …
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When the Covid recession started, people started wondering what the recovery would look like. The recovery from the Global Financial Crisis in 2008 was horribly drawn out, and in fact GDP took longer to recover than it did in the Great Depression of the 1930s. How Bernanke, Yellen & Co …
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Kuppy has been keen on tankers for a long time.
Another strong risk-on day. Trump leaves hospital, Pelosi talks about stimulus packages, the trade deal is on (again?), CL1 jumps 6.2%. All agricultural commodities green, with the exception of corn, which is flat …
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