Jeffrey P. Snider | TalkMarkets | Page 66
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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Lagarde And Germany, How It Keeps Getting Worse
Maybe this was inevitable. After all, it is how things work in a lot of other places. When all is lost, that last thing that happens is the lawyers come in and pick through the bones.
I’d Like To Solve The Puzzle: Nastier Number Four, The New Lows In Germany
The European slump had been a combination of several transitory factors. At least that’s what they had kept saying.
Post-Landmine Payrolls
It’s never about a single payroll report. Even still, there’s something significant in how the “good” ones aren’t measuring up the way they used to.
Contracting Factories, Curiously Rebounding Inbound Cars, And The Confirmed End Of Decoupling
The US manufacturing sector may not be in as bad a shape as its German or Japanese counterparts, though it appears to be catching up on the downside.
The 10s Back To A 1-Handle Again; New Information That Isn’t New
It seems so simple, getting anyone to understand how bonds and rates actually work. But so thoroughly has Economics screwed everything up, hardly anyone believes their own eyes.
How To Properly Address The Unusual Window Dressing
If global banks are interested in hiding more exposures from each other, the sparest of spare liquidity remains in high demand.
Toward Rate Cuts: What If The Landmine Was Real?
US state and local governments are absolutely binging, spending on construction projects at a breakneck pace.
The Domestic PMI Picture, Still A Dollar Shortage
This green shoot didn’t wilt so much as it exploded into a fireball. FRBNY’s Empire State Manufacturing Index had captured the landmine in its initial 2019 readings.
The Asian PMI Picture Of A Dollar Shortage
The issue is entirely liquidity risk, meaning dollar shortage. The bond market sees this in global monetary conditions and hedges against it in a manner consistent with forecasting imminent FOMC rate cuts.
Inflation Undershoots, Inflation Expectations Sketch Out Growing Downside
For the third time in the last five months, inflation expectations have matched record lows. To hear officials and Economists talk, you’d think they were at or nearing record highs.
The Road To July Rate Cut Runs Through The Brazilian Zone
GDP for Q1, released recently, was more than a little negative quarter-over-quarter for the first time since 2016. Q2 2018 worked out to be just slightly below zero.
An Easy Bipartisan Solution: Hate The Unemployment Rate
According to the latest estimates by the Bureau of Economic Analysis, total income was $13.67 trillion in May 2019 (seasonally-adjusted annual rate). Had the Great “Recession” actually been a recession, total income would have been $16.53 trillion.
The RHINO Conundrum Of UFO Non-Believers
In 2005, Ben Bernanke kicked up quite a bit of controversy, or what qualifies as drama in the dry space of top-level Economics.
Manufacturing Cross-Currents
ACT Research, the leading publisher of commercial vehicle industry data in North America, reported last week that freight rates in for-hire trucking had declined in May. It was the fourth month in row when prices had been pressured.
The Speed Of Sour: LIBOR Now Inverted, Too
Last week, for the first time since February 2008, the LIBOR curve inverted. The 3-month tenor has been on the move downward for some time.
From Their Lips To No One’s Ears
What they never consider, what they can’t even begin to think about, is if the “unexpected dollar shortage” is a systemic and chronic issue. Not with QE and those trillions in bank reserves.
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