Equities were mixed Friday on contrasting statistics from China on how the coronavirus is spreading. Data was generally upbeat however some are concerned that retail sales were revised nominally lower in December. ...
FRB Chair Powell testifies to Congress about the state of the economy. I am certain he will discuss the coronavirus and its possible implications. Perhaps the safest comment to make is no one knows the outcome and there is not a shortage of...
Minneapolis Fed President Neel Kashkari made comments that’s validated many of yesterday’s remarks stating hedge funds and “other investment vehicles” are the primary reasons for the illiquidity in the repo market. Kashkari further opined one of the greatest risks is ...
Many times, I have commented about liquidity issues and how it relates to the repo market. As widely discussed the Fed is intervening into the “plumbing of the markets” on a daily basis since ...
Fourth quarter earnings season is about to commence. According to Goldman, results are expected to increase by the smallest amount in three years, commenting further margin pressure may continue for the foreseeable future for a myriad of reasons. ...
Equities were relatively quiet as the euphoria over a partially completed trade deal began to fade. Economic data continued to be stronger than expected including pivotal housing data that stated permits rose to a 12 year high. More over the number of October’s...
As largely expected the Fed left interest rates unchanged and signaled it would keep them on hold through 2020 amid a solid economy. The vote was unanimous, the first since May. ...
It is often written the markets are a microcosm of the myopicy of current perspectives. The issue at hand is to recognize the next myopic dominating view. ...
Last year at this juncture the 10-year was yielding around 3.25% and consensus was expecting the 10-year Treasury to broach 4% sometime in 2019 as the Fed continued with its anticipated tightening cycle of an additional 50-75 basis points. In reality the 10-year fell ...
A major question at hand is year-end interbank liquidity. Historically (pre 2007) demand spikes during the final two weeks of the year as banks close out their books. ...