Taper Tantrum, Aussie Style
In case it wasn’t clear enough that some manner of policy shift is in the
In case it wasn’t clear enough that some manner of policy shift is in the
Yield-curve control snapped in Australia Thursday. I’m insistent on the notion that it’s never a
Don’t show him a dollar chart.
Maybe ask a vegetable.
Here’s one of those notable developments that’s probably flying under your radar.
It’s probably going to take more than some jawboning…
Ok, so believe it or not, you’re going to need to parse the Australian CPI print…
“Debelle smashed two arguments in one sitting. Two birds, one stone.”
Everyone “is focusing on the positivity in the minutes, and talk of neutral rates at 3.5%, is well above market pricing”…
China Cut to A1 From Aa3 by Moody’s, Outlook to Stable
Exactly nobody who cared to weigh in on Wednesday believed Fitch’s decision to pull the
In January’s monthly letter, I noted that rates strategists are on board with the notion
There was a time not so long ago — and by that I mean prior
The Bank of Japan finally blinked. At its last meeting of the year, the lone
I’ve said it before, and there’s no telling how many more times I’ll say it
Anticipation continued to build for a global policy pivot Tuesday, when the RBA opted for
In “One Trade To Rule Them All,” I characterized the yen’s worst year on record
The Fed may have a credibility problem, but like everything else in the world, it’s
Traders are learning to live with outsized moves and pervasive cross-asset volatility. Or, if they
It wasn’t so long ago when RBA governor Philip Lowe was a “patient” man, predisposed
Philip Lowe finally ran out of “patience.” After months spent insisting the RBA would wait
One mainstream media outlet described the global mood as “sour” on Monday. I don’t particularly
It was all about the yen on Thursday, when the Bank of Japan surprised markets
“No one” is talking about “the biggest story.” But don’t worry. Albert Edwards has you
Although context is key in most cases, sometimes it helps to assess news flow out
The worst bond selloff on record accelerated Wednesday, with the usual caveat that the move
Headlines continued to paint a somewhat grim macro picture Tuesday. 2020 now seems like an
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