Jeffrey P. Snider | TalkMarkets | Page 57
Chief Investment Strategist
Contributor's Links: Eurodollar University
Jeff is an Investment Strategist and currently runs Eurodollar University. Formerly the Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheaded the investment research efforts while providing close contact to Alhambras client base. Jeff joined Atlantic Capital ...more

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Rate Cuts, Repo, And (No) Money Printing
Despite the apparent emphasis on three-and-done and the relatively stable or positive economic scenario under which that would be appropriate, it is elsewhere in the committee’s recently released minutes that is getting the most attention.
More (Badly Needed) Curve Comparisons
You can’t even compare the climate of today’s economy with that of twenty-one years ago let alone any actual specifics. Even the Fed doesn’t really believe it (R*) no matter what Powell says.
I Can’t Get No Re-cession
The Germans managed to do it, to avoid meeting the dreaded technical definition of a recession.
TIC For September: Not Repo But ‘Further Flaws’
The Treasury Department’s TIC for September 2019 finally arrived yesterday. The TIC data confirms all our suspicions.
The Financial Midpoint Comes Into Focus
The People’s Bank of China (PBOC) earlier today trimmed one of its many policy rates. The 7-day reverse repo rate will be reduced from 2.55% to 2.50%.
Another Perfect Example Of The Euro$ Squeeze
It is the eurodollar’s world; we are all just trying to live here.
Powell’s Strong Economy Canceled By Powell’s Data
Continued weak retail sales combined with continued high levels of inventory propose continued downward progression.
Retail Sales Make It Two Toward The Second Act
Consumers might rebound more strongly in the months ahead, but there is more than enough to more strongly suggest the possibility they might not. There aren’t yet enough more frequent indications of much worse.
China’s Xi Free To Continue The Downward Course
While Western economists keep telling themselves that underlying global economic strength will kick in any minute now, the Chinese data pretty much puts an end to such nonsense.
How Do You Spell R-E-P-O With C-L-O?
There’s trouble brewing in a particular sector of the corporate bond market. It’s not really new trouble, merely the continuation of doubts and angst that have existed for more than a year already.
Stuck In Between: No Recession Today, But No Turnaround, Either
For the specific US data today, the ISM and payrolls, what they continue to show is still a weakened trend in the US economy. Not recession, but certainly elevated recession risk.
Red Flags All Over It-Wasn’t-Worse Payroll Friday
Better-than-expected is the new strong.
More Synchronized, More Downturn, Still Global
China was the world economy’s best hope in 2017. Like it was the only realistic chance to push out of the post-2008 doldrums, a malaise that has grown increasingly spasmatic and dangerous the longer it goes on.
The Inventory Context For Rate Cuts And Their Real Nature/Purpose
What typically distinguishes recessions from downturns is the inventory cycle. Even in 2008, that was the basis for the Great “Recession.”
Three (Rate Cuts) And GDP, Where (How) Does It End?
The Federal Reserve has indicated that it will now pause – for a second time, supposedly.
The Big Risks Left (And Right) In Europe
It’s not the recessions or recession risks that are the world’s big problem. It’s the absence of any recovery anywhere on it. Europe is a prime example, but sadly not alone in this state.
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