Jeffrey P. Snider | TalkMarkets | Page 59
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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The Scientism Of Trade Wars
According to the IMF, the globally synchronized downturn is because…trade wars.
Head Faking In The Empty Zoo: Powell Expands The Balance Sheet (Again)
Powell announced that the Fed will again make that determination (the Q part of QE) just as it did during the QE period. For a central bank supposedly worried about how the market is starved for liquidity, this is an odd choice.
The Consequences Of ‘Transitory’
Europe’s QE is off to a very rough start. In the bond market and in inflation expectations, the much-ballyhooed relaunch of “accommodation” is conspicuously absent.
Big Trouble In QE Paradise
Maybe it was a sign of things to come, a warning how it wasn’t going to go as planned. Then again, when it comes to quantitative easing there really is no plan. Other than to make it sound like there is one, that’s really the whole idea.
Why The Japanese Are Suddenly Messing With YCC
While the world’s attention was fixated on US$ repo for once, the Bank of Japan held a policy meeting and turned in an even more “dovish” performance.
ISM Spoils The Bond Rout Again
For the second time this week, the ISM managed to burst the bond bear bubble about there being a bond bubble.
The Big Picture Doesn’t Include ‘Trade Wars’
The WTO today downgraded its estimates for global trade growth.
ISM Spoils The Bond Rout
The bond route didn’t last very long, though. At 10 am ET, the Institute of Supply Management (ISM) released the latest calculation for its manufacturing sector PMI. It was pure ugly, the lowest since 2009.
The Wholesale Zoo: Where Did All The Animals Go?
It’s not the level of bank reserves. It’s the increasingly empty zoo.
Sizing Up The Cavalry
There’s been an unusual level of honesty coming out of Liberty Street of late. Not total honesty but certainly more than the usual nothing denials and dismissals.
Waiting On The Cavalry
As trade falls off everywhere, countries are increasingly looking to protect their own. Nothing new, this is a feature of when prolonged stagnation turns to outright contraction.
More Than A Decade Too Late: FRBNY Now Wants To Know, Where Were The Dealers?
Focusing in on bank reserves would leave you dazed and confused. It’s just not how the system works
No Longer Hanging In, Europe May Have (Been) Broken Down
For Europe, it’s beginning to look too much like 2012. For the German industry, more like 2009. Altogether, downside risks aplenty and proliferating.
Much More Than This Week (TRDKWTAD)
They really, really don't know what they are doing. That’s true always, but there are times when it really shows. This week was definitely one of those times.
What’s The Verdict On This Week?
Jay Powell’s disastrous week is coming to a close, not yet his long nightmare.
When Push Comes To Shove, The Fed’s Got Nothing
According to DTCC’s repo #s, there’s a good chance fed funds was outside the range today, too.
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