Posts Tagged ‘bond bears’

Notes From Underground: Taking Pulse of a Dead Market

August 8, 2016

Wow! Was it quiet in today’s market? The simple answer is yes but Notes From Underground never takes things at face value. The global markets digested Friday’s “robust” employment report and seemed content with the market results: stronger dollar, stronger equities, higher yields and selling of precious metals. The euro and gold were steady today, but the yen and Swiss were weak as the safe haven’s were shunned as the risk-on trade is back en vogue. I have no problem with the market’s assessment of the jobs data but there were other stories that piqued my interest.

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Notes From Underground: Unemployment, No Surprises

January 8, 2012

The unemployment data released on Friday revealed no great surprises as the nonfarm payrolls were right in line with consensus. The markets also offered up no real divergences from the norm as the S&Ps rallied but by day’s end the U.S. equities closed basically unchanged (although the NASDAQ continued to outperform all other indices.) The EURO currency dropped further and wound up losing 1.7% for the week even while the S&Ps gained 1.7%.

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Notes From Underground: Battle Cry 2012–PEPPER SPRAY DAVOS

December 18, 2011

All these years of the high level meetings at the World Economic Forum in Davos and what do we have to show for its efforts? At the INSIDERS BALL, where the elites exchange views and pay up to $500,000 for the privilege to listen to ideas that are to move the global capitalist system forward. If the results of the last decade are the aggregation of the best ideas that the “best and brightest” are capable of, then it is time to end the charade of Davos and send the global elite home in tears before they can cause any further damage? The DAVOS crowd has fared well as the global economy has suffered creating a huge question mark over the policy output that is the result of the global hierarchy gathered in the scenic environs of Switzerland. This view is not new as the economist Adam Smith warned long ago:

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Notes From Underground: The Transitory Nature of Harsh Rhetoric

April 28, 2011

Between every FOMC meeting we hear from Plosser, Fisher and others that the FED needs to reign in QE2 and start reversing the huge amount of liquidity that it has added to the financial system. The airwaves are filled with the dissenting voices of the “monetary hawks” proclaiming their fidelity to edicts of responsible monetary policy. However, come the scheduled meetings, the “HAWKS” become detaloned as they fall prey to the soft coos of the “doves.” It seems that entrance into the FED’s citadel requires that one must leave individualistic thought in your home district and resolve to join the consensus.

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