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Kuroda Suggests “No Limit” To More NIRP Measures To Stall Japanese Bond Yields, Stocks, USDJPY Plunge
Kuroda Suggests “No Limit” To More NIRP Measures To Stall Japanese Bond Yields, Stocks, USDJPY Plunge With Nikkei 225 down 800 points from post-NIRP highs and USDJPY having almost roundtripped, there is little wonder that Japanese government bond yields are collapsing to imply considerably deeper NIRP to come. With 10Y JGBs on the verge of a […]
Negative Interest Rates Already In Fed’s Official Scenario
Negative Interest Rates Already In Fed’s Official Scenario Over the past year, and certainly in the aftermath of the BOJ’s both perplexing and stunning announcement (as it revealed the central banks’ level of sheer desperation), we have warned (most recently “Negative Rates In The U.S. Are Next: Here’s Why In One Chart”) that next in […]
The Disturbing Reasons Why The Bank Of Japan Stunned Everyone With Negative Rates
The Disturbing Reasons Why The Bank Of Japan Stunned Everyone With Negative Rates As we noted earlier, in a paradoxical U-turn, one which caught everyone by surprise as a result of Kuroda’s own promise just one week ago not to engage in NIRP… … and two months after the ECB’s December 3 disappointing announcement led to a historic surge in the […]
Inflation in Canada ticks up to 1.6% in December on higher food prices
Inflation in Canada ticks up to 1.6% in December on higher food prices Food prices are increasing at more than twice the overall inflation rate, Statistics Canada says. (Shutterstock ) The cost of living in Canada went up by 1.6 per cent in December due to higher prices for food, shelter and transportation. Statistics Canada reported […]
Earthquake Economics
Earthquake Economics Beyond Human Capacity “The United States of America, right now, has the strongest, most durable economy in the world,” said President Obama, in his State of the Union address, on Tuesday night. What performance metrics he based his assertion on is unclear. But we’ll give him the benefit of the doubt. Photo credit: Natacha Pisarenko […]
This Is What Happened The Last Time The Fed Hiked While The U.S. Was In Recession
This Is What Happened The Last Time The Fed Hiked While The U.S. Was In Recession Back on June 17, Bank of America started its 66-day countdown to the moment it was convinced the Fed would hike rates, September 17, 2015. We, correctly, said that “we disagree entirely” with BofA’s conclusion that the Fed would hike rates, and […]
Sweden Warns Of Dire “Consequences” From Massive Housing Bubble, Heavily Indebted Households
Sweden Warns Of Dire “Consequences” From Massive Housing Bubble, Heavily Indebted Households Late last month, Sweden tripled down on QE, as the Riksbank announced it would expand its asset purchases by SEK65 billion. Or, visually: The recent history of Swedish monetary policy is viewed by some as a cautionary tale about what can happen when a […]
Market Manipulation Confusion
Market Manipulation Confusion QUESTION: You say that long-term manipulations are impossible while short-term manipulations have been the focus of the bankers. Do you mean to say that not even governments can manipulate the economy perpetually? Are central banks buying US equities to manipulate the US stock market higher? It would seem that the Fed would then […]
Peak Debt, Peak Doubt, & Peak Double-Down
Peak Debt, Peak Doubt, & Peak Double-Down Time to Hike Rates It makes little sense to me why the market is only pricing a 6% probability of a rate hike at the October meeting, 30% for December, and only a near 50/50 probability all the way out to March 2016. The statutory mandates of the […]
Turkey Arrests Journalists, Sets Up Terrorist “Tip Line” As Currency Plunges, Violence Escalates
Turkey Arrests Journalists, Sets Up Terrorist “Tip Line” As Currency Plunges, Violence Escalates Last month, Turkey’s central bank had a chance to give the plunging lira some respite by preempting the Fed and hiking rates. Only they didn’t. And not only did they not hike, they made it clear that tightening would only occur once the Fed […]
Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows
Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows Chinese stocks opened lower, extending yesterday’s losses, after The PBOC weakened its Yuan FIX dramatically for the 2nd consecutive day(from 6.1162 Monday to 6.2298 last night to 6.3306). Offshore Yuan fell another 9 handles against the USD after China […]
I Sure Am Glad There’s No Inflation
I Sure Am Glad There’s No Inflation I sure am glad there’s no inflation, because these “stable prices” the Federal Reserve keeps jaw-jacking about are putting us in a world of hurt. We are constantly bombarded with two messages about inflation: 1. Inflation is near-zero 2. This worries the Federal Reserve terribly, because stable prices […]
Italy Youth Unemployment Hits Record High 44.2%, Concerns Rising “Recession Exit May Be Unsustainable”
Italy Youth Unemployment Hits Record High 44.2%, Concerns Rising “Recession Exit May Be Unsustainable” Earlier today, Eurostat released the two most important data points for Europe: inflation and unemployment. On the former, there was no surprise at the headline level which remained at 0.2% for the another month, in line with expectations, but core CPI […]
Fed Is Not Just Behind The Curve, It’s Driving The Bus Over The Cliff
Fed Is Not Just Behind The Curve, It’s Driving The Bus Over The Cliff So the Fed didn’t raise rates again. And the timing of the rate increase will be data dependent. Ho hum. There’s just one little problem. The inflation measures the Fed watches really don’t measure inflation. The Fed won’t see what its cronies in the government […]
Lies, Damned Lies, and Statistics
Lies, Damned Lies, and Statistics The government released their monthly CPI report this week. Even though it came in at an annualized rate of 3.6%, they and their mouthpieces in the corporate mainstream media dutifully downplayed the uptrend. They can’t let the plebs know the truth. That might upend their economic recovery storyline and put […]
