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Yellen’s Preferred Approach to Bubbles, A Joy To Behold
In looking at the “portfolio effect” of monetary policy, monetarists always see benefits without costs. The one exception in recent years has been Jeremy Stein of the FOMC, who is no longer a member....
View ArticleThe ECB Boiler Room, Part 2
Just as China grapples with the scale of economic waste induced by heavy monetarism, Europe has that old 2011 feeling again of financial waste. Mario Draghi’s July 2012 promise to “do whatever it...
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Yellen Puts The ‘Dollar’ Back On Suicide Watch
Volatility in UST trading declined a bit in the past few days, as treasury yields became far more settled intraday. While that breaks the exact duplication Monday and Tuesday this week traced from...
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Not My Euphoria
In its 84th Annual Report released last June, the Bank for International Settlements departed from usual central bankish conventions and decried the growing departure from market discipline and even...
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Waiting On The Rest of the Herd
With almost everything turning lower this week under “dollar” pressure, it is imperative to keep in mind the apex asset class. In 2007, it was the ABX indices and various mortgage related structures...
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