Fed Backstop Borrowing Falls Again
Banks continued to avail themselves of Fed liquidity backstops over the last week, but the
Money Market Fund Assets Swell, Approach $5.3 Trillion
Surprise! Money market funds attracted another $30 billion over the latest weekly reporting period, data
Local Oil Man Gets 50% Raise. Makes $36 Million
Typically, I wouldn’t go out of my way to call out CEO compensation, where “out
Was The Plunge In US Banking Lending An Optical Illusion?
Was America’s much-hyped “credit crunch” a mirage? As most regular readers will recall, Fed data
Fed Gets More Disinflation Evidence With Cool PPI, Rising Jobless Claims
In another constructive development for the disinflation narrative in the US, producer prices across the
ECB Notices Greedflation. Albert Edwards Offers Another Warning
Earlier this week, I suggested the purported wage-price spiral which many argue is driving inflation
From SoftBank To Apple, Capital Cringes At Xi
SoftBank and Prosus are selling more Alibaba and Tencent. That’s not the best news if
Americans Harbor Very Negative View Of Xi Jinping In New Poll
“Few Americans have confidence in Xi to do the right thing in world affairs, including nearly
Fed Staff Saw Recession From Bank Stress, Minutes Reveal
The word “recession” came up three times in the March FOMC minutes, all in the
Goldman Changes Fed Call Amid Tight Credit, Mixed Official Messaging
The US is “certainly” past peak inflation, Tom Barkin told CNBC on Wednesday, following a
Soft Landing Up North? BoC Seems To Think So
A month after becoming the first developed market central bank to pause a tightening campaign
Fed, Markets Get Good News In Relatively Benign CPI Release
Headline inflation in the US rose less than expected in March, while core price growth
Buffett: ‘No Reason To Worry’ About Bank Deposits
Warren Buffett wouldn’t confirm reports he discussed adverse developments in the US banking sector with
Latent Recession Risk At 50% Underlines ‘Wile E. Coyote’ Worries
Recession risks are elevated. I suppose that goes without saying. If it does go without
Fed Has $1 Trillion In Paper Losses. Projects $90 Billion In 2023 Red Ink
You’ve surely seen the figure by now: US banks were sitting on $620.4 billion in
No ‘Light At Tunnel’s End’ For Taiwan Export Slump
Taiwan has a lot of problems currently, not least of which is that the autocrat
IMF Warns On ‘Tricky,’ ‘Uncertain’ World As Risks Proliferate
The IMF’s new World Economic Outlook (that’s a proper noun) is here. Who’s excited? These
Monetarists Hope For Renaissance After ‘Correct’ Inflation Call
We should’ve given the monetarists more credit. That was one ostensible lesson from the pandemic
US Small Businesses Stare Down Worst Credit Crunch In Decades
America’s small business owners are still “cynical.” That’s according to the latest vintage of the
Hikes, Specs And Techs
Tech shares may be “over-discounting” prospective additional relief from bond yields, traders are increasingly convinced
Are 2023 Fed Cuts ‘Inevitable’?
I suppose this goes without saying, but US rates are more pessimistic about the macro
Americans Most Pessimistic On Credit Access In A Decade
Americans harbored the most grim perceptions of credit availability in at least a decade during
Is The Banking Crisis Over? Ask Google
I’ve spent a lot of time over the last four weeks discussing the psychological side
SVB And The Anarchists’ Dream
Seemingly every day, somebody, somewhere, publishes a new postmortem on last month’s turmoil in the
Macron Hints At De-Dollarization, ‘Autonomy’ From US After Xi Meet
Emmanuel Macron doesn’t want to pick sides. During interviews published Sunday, but conducted while he
Forget Bretton Woods 2 And 3. Try ‘Deep Dark Woods’ Instead
If you’ve never been to Asheville, North Carolina, but you’ve heard of it, I’m not
Backup Plans And Alternate Realities
The outcome of the Fed’s next meeting will, for all intents and purposes and assuming
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