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Tag Archives: Michael Every
Elites “Going Rogue” Suggests The Global Neoliberal Architecture Is Collapsing
Elites “Going Rogue” Suggests The Global Neoliberal Architecture Is Collapsing Listen carefully. That is the sound of going rogue – and bond yields further through the floor. Yesterday UK PM Boris Johnson announced he is going to prorogue–or close–Parliament, meaning that when MPs come back to sit next week they will only do so briefly, […]
Rabobank: “The US Will Simply Not Allow A New Reserve Currency Without A Fight”
Rabobank: “The US Will Simply Not Allow A New Reserve Currency Without A Fight” “Peace for our time” Despite the fact that the German IFO survey was ‘I-ful’, with the official word being that the outlook is “increasingly dire”, and that US core durable goods were -0.4% vs. flat expected, both of which confirm that […]
Strait Outta Hormuz
Strait Outta Hormuz The Strait of Hormuz these days seems to be what the streets of Compton used to be in the 90s. Yesterday, Iran’s Revolutionary Guard said it has seized a “foreign vessel” for smuggling fuel. And this morning, news came in that the US has shot down an Iranian drone in the Strait of […]
Rabobank: “There Are Lots Of Comparisons One Can Make To The 1930s At The Moment, None Flattering”
Rabobank: “There Are Lots Of Comparisons One Can Make To The 1930s At The Moment, None Flattering” Yesterday’s 1 July handover day celebrations in Hong Kong did not go as smoothly at all. After rain had forced the flag-raising ceremony indoors for the first time, early clashes between police and protestors were a harbinger of […]
Rabobank: “We Are On The Verge Of Lunatic Monetary Policy And Lunatic Fiscal Policy Combined”
Rabobank: “We Are On The Verge Of Lunatic Monetary Policy And Lunatic Fiscal Policy Combined” Ups and Downings One Bloomberg headline says it all for markets: “All Time Highs in Everything American As Risk Rally Crescendoes” Yes, the S&P and Dow are at all-time highs and the talk is of when, not if, US bond […]
Dire Straits Of Hormuz
Dire Straits Of Hormuz Well, we didn’t have to wait long for ’John Wick: Chapter Portobello’ to begin, did we? Brent crude spiked 4.5% before giving up around half of those gains as a further two oil tankers–one Norwegian, one Japanese–were attacked in the Straits of Hormuz, forcing the evacuation of both vessels; that as Japanese […]
Rabobank: “The Biggest Explosions Are Still To Come”
Rabobank: “The Biggest Explosions Are Still To Come” Civil War, Infinity War, or Endgame? US consumers are feeling more confident according to yesterday’s data, and they also think things can only get better. Meanwhile, Europe is patting itself on the back over the far right not dominating in the EU elections, even if they did […]
99 Lead Balloons… Are About To Come Crashing Down
99 Lead Balloons… Are About To Come Crashing Down ‘Lead balloon.’ That graphic description of public failure apparently dates from the US in 1924, and ironically was itself such a poorly-received idiom that it didn’t appear in the American press again until 1947. A few decades later, and the phrase was so well known that a […]
Rabo: The World Is Banking On China (But Japan Points To Our Future)
Rabo: The World Is Banking On China (But Japan Points To Our Future) Market comments There is a saying in the market that if you want to see the future of monetary policy, you just have to look at Japan. Well, as expected, BoJ Governor Kuroda and his team decided to keep policy unchanged, despite a […]
Rabobank: “We Can’t Even Imagine What The Chinese Response Will Be To The Green New Deal”
Rabobank: “We Can’t Even Imagine What The Chinese Response Will Be To The Green New Deal” The bent out of shape of things to come If regular readers have not picked up on our view on US-China relations, it is that although just enough good will can be scraped together to kick the can down […]
Lessons From Davos: Everything Can Come Crashing Down… And A Total Rejection Of Any Policy Alternatives
Lessons From Davos: Everything Can Come Crashing Down… And A Total Rejection Of Any Policy Alternatives As Davos wraps up today, what have we got so far so far from the cockpit of globalisation? Warnings of rising nationalism. Fears of recession. Worries that everything could come tumbling down again. And a total rejection of any […]
