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Category: fomc

The Bond Market Is Making Demands. And You Will Bend The Knee.

February 28, 2020February 28, 2020

Any questions?

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8 Comments on The Bond Market Is Making Demands. And You Will Bend The Knee.

Fed Hints At T-Bill Taper In Second Quarter (And Other Highlights From The January Minutes)

February 19, 2020February 19, 2020

All anyone cares about is the liquidity spigot.

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Conspiracies Aren’t Conspiracies And ‘Fundamentals’ Are Malleable

February 15, 2020February 16, 2020

Ben Bernanke is the worst co-conspirator in the world.

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2 Comments on Conspiracies Aren’t Conspiracies And ‘Fundamentals’ Are Malleable

Hours After Being Maligned On Live TV By The President, Jerome Powell Chats With Congress

February 11, 2020February 11, 2020

“Helet me down.”

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1 Comment on Hours After Being Maligned On Live TV By The President, Jerome Powell Chats With Congress

A Health Crisis, A Fed Chair, A New Bubble And One Largemouth Bass

February 9, 2020February 10, 2020

“One might, perhaps, see the recent price-action of the Tesla as supportive of this idea.”

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1 Comment on A Health Crisis, A Fed Chair, A New Bubble And One Largemouth Bass

Revisiting The Ultimate In Ironic, Tragicomedic Fed Outcomes For 2020

February 9, 2020

It’s almost fatalistic.

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3 Comments on Revisiting The Ultimate In Ironic, Tragicomedic Fed Outcomes For 2020

The Coronavirus Infects Fed Communications

February 7, 2020February 7, 2020

“The recent emergence of the coronavirus, however”…

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3 Comments on The Coronavirus Infects Fed Communications

Jeff Gundlach Probably About 90% Correct To Say Chances Of Fed Cut Are About 90%

February 1, 2020

“Now a 90% chance of a 2020 cut”.

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5 Comments on Jeff Gundlach Probably About 905 Correct To Say Chances Of Fed Cut Are About 905

Two Years In, Jay Powell Still Lacks Only Skill That Matters: Ability To Bullsh*t People

January 29, 2020January 29, 2020

At least he knows what to say when asked if the Fed is in the bubble-blowing business.

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5 Comments on Two Years In, Jay Powell Still Lacks Only Skill That Matters: Ability To Bullsh*t People

Fed Commits To Repos Through April, Keeps Main Rate On Hold, Raises IOER

January 29, 2020January 30, 2020

Quite a bit to digest, but perhaps not much to move markets other than at the very front-end.

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3 Comments on Fed Commits To Repos Through April, Keeps Main Rate On Hold, Raises IOER

Pandemic Fears Meet Fed, Impeachment, Tech Earnings With Stocks In Stratosphere

January 26, 2020January 26, 2020

A little trepidation.

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1 Comment on Pandemic Fears Meet Fed, Impeachment, Tech Earnings With Stocks In Stratosphere

‘Just As Independent As The Fed’: Erdogan’s Son-In-Law Jokes About Trump’s Control Over Central Bank

January 23, 2020January 23, 2020

This is yet another manifestation of Trump’s behavior normalizing autocratic regimes.

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1 Comment on ‘Just As Independent As The Fed’: Erdogan’s Son-In-Law Jokes About Trump’s Control Over Central Bank

Trump Blames Fed, Storms, Boeing For Holding Back Economy, Dow. Says Musk ‘Does Good At Rockets’

January 22, 2020

The cadence was laughably childlike.

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7 Comments on Trump Blames Fed, Storms, Boeing For Holding Back Economy, Dow. Says Musk ‘Does Good At Rockets’

What’s Behind The Rally? It’s The Liquidity, Stupid.

January 15, 2020January 16, 2020

“And I think we ought to be sensitive to that”.

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7 Comments on What’s Behind The Rally? It’s The Liquidity, Stupid.

Repo Apocalypse Was Averted. Now What?

January 11, 2020

“It is too early to break out the ‘mission accomplished’ banner”.

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Powell In 2014: The Dot Plot Is A Lot Like Chernobyl

January 10, 2020January 10, 2020

“Plain English”.

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The Case For The Fed Cutting Rates Back To Zero

January 9, 2020January 16, 2020

“…you cannot fight a recession with only one or two rate cuts”.

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Fed Minutes Show Rates On Hold, Repo Discussion Front And Center

January 3, 2020January 3, 2020

Policy is “appropriate”. Unless there’s a world war.

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Out With The Dissenters! Fed Voter Rotation Removes Hawks

December 29, 2019December 29, 2019

2020 represents a unique challenge thanks to Trump’s public criticism of monetary policy. 

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Don’t Be So ‘Sensitive’: How Much Will The Data Matter For Markets In 2020?

December 19, 2019

“Data dependent”, so to speak.

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3 Comments on Don’t Be So ‘Sensitive’: How Much Will The Data Matter For Markets In 2020?

Do You Know What Would Be, Like, ‘Sooo Great’ For The Economy? Donald Trump Does.

December 17, 2019December 17, 2019

“Zoom!”

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1 Comment on Do You Know What Would Be, Like, ‘Sooo Great’ For The Economy? Donald Trump Does.

Stuart Sparks Details The Ultimate In Ironic, Tragicomedic Fed Outcomes For 2020

December 14, 2019

“Note that this is not a forecast of recession”…

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Fed Unveils $365 Billion In Term Repos, Other ‘Bells And Whistles’ To Smooth Year-End

December 12, 2019December 12, 2019

“A safety valve”.

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Jerome Powell Quizzed On Repo Stress As Zoltan Note Makes Cameo In Press Conference

December 11, 2019December 11, 2019

“You asked about year-end”.

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Fed Stands Pat In First Unanimous Decision Since May; Dots Show Policy On Hold Through 2020

December 11, 2019December 11, 2019

“…policy is appropriate”.

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1 Comment on Fed Stands Pat In First Unanimous Decision Since May; Dots Show Policy On Hold Through 2020

‘The Day The World Stops Spinning’: Zoltan Pozsar Calls For QE4

December 10, 2019December 10, 2019

“If carry makes the world go ‘round, and reserves make carry possible the day we run out of reserves would be the day when the world would stop spinning”.

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‘Blue Sky’, ‘Ugly’ Or ‘Armageddon’: 3 Paths For The Emancipation Trade

December 2, 2019December 3, 2019

“Everything we know about financial markets”…

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