every major currency has appreciated against the dollar this year. Since the nadir of Covid, the AUD has done best: a proxy for CNH, no doubt. Worst has been JPY. The NOK, SEK, NZD, MXPSKW and SAR have done pretty …
Stocks are down, yields are down, the curve is flattening.
Brexit is claimed to be the reason, but I have no reason to believe it.
Usually, a treasury secretary or a central banker is wheeled out at this point to promise more fiscal or monetary stimulus.
I have …
Jonathan Ford rightly rubbishes the proposals from the government to create jobs.
The argument is well rehearsed.
The fallacy is to assume that all jobs are equally productive. They are not.
The sole purpose of economic activity is to consume, and the market is the perfect …
Most futures contracts are liquid out for a couple of delivery dates, maybe four or five if you’re lucky.
The exception is Eurodollar futures (nothing to do with the Euro currency: just dollar deposits held by institutions outside of the US).
They are liquid out for years …
Things seem risk off.
Mondays in Europe are odd, because the US sets the tone for markets, but DX is up, commodities are generally down,
European equities down quite a bit (ESTX50 down 1.4%).
10 years are up (yields down).
This is almost a full house of …
The FED is toying with the idea of injecting money directly into consumers’ wallets
This article is about the FED toying with the idea of issuing a digital currency.
This is equivalent to allowing ordinary consumers to have an account with the FED, and not just the commercial banks and …