Today, Rick Santelli and I offered insights into this week’s FOMC meeting, coupled with the recent ECB actions. I noted that the Italian BOND FUTURES Monday were trading above the June 27 close when ECB President Mario Draghi roiled global credit markets with his Sintra,Portugal speech, which suggested that the removal of a deflationary scare would allow the ECB to begin tapering its QE program. The fact that Italian 10-year yields are lower today than four weeks ago is indicative of the power of the QE bond purchases. Why?
Posts Tagged ‘CNBC’
Notes From Underground: CNBC Santelli Exchange, February 21
February 24, 2017During my hiatus, I spoke with Rick Santelli (click on the image below) to discuss some of the new issues presenting investment opportunities, in addition to concerns surrounding potential negative fallout from ill-conceived models, such as the effect of the border adjustment tax on the global financial system.
Notes From Underground: Another Day and the Market Floats On the Sea of Complacency
September 22, 2016My appearance with Rick Santelli on CNBC picked up on last night’s blog post. We discussed our concerns about the 7-3 vote in which the Fed Governors bested the Presidents. The FOMC has proven to be horrendous forecasters as Larry Summers suggested in his Washington Post op-ed in which he called out Yellen for her speech at Jackson Hole. Comparing Yellen’s forecast to Bernanke’s horrendous outlook on the housing crisis containment in 2007 was a tremendous insult. It seems that the Magnificent Seven have circled the wagons in defense against the ubiquitous criticism being leveled at the world’s central banks from fellow academics, traders, and pension and insurance companies. There was an interesting headline by Bloomberg that summarized Yellen’s press conference: “Yellen: Rich, Deep, Serious Intellectual Debate Today.” The intellectuals prevailed within the walls of the world’s most important debating society. The outcomes from central bank policy will make the fourth quarter a land of great trading opportunity. Do not be short volatility on a middle-term basis. The investment world is sitting on the tinder of multiple prairie fires. Which spark will light the tinder?
Click on the image to watch me and Rick discuss yesterday’s BOJ and Fed meetings.
Notes From Underground: CNBC Santelli Exchange–Central Bankers’ Timing
April 17, 2016
Click on the image to watch me and Rick discuss central bank policy timing.
Notes From Underground: Santelli Exchange — Central Banks Triggering More Problems?
February 16, 2016
Click on the image to watch me and Rick discuss flawed central bank policy.
Notes From Underground: Santelli Exchange — The Fed’s Models Are Broken
February 1, 2016
Watch me and Rick discuss why gold isn’t a hedge against inflation,
but against central banks losing control “of the whole game.”
Notes From Underground: Before a Short Hiatus …
December 10, 2015I will be taking a few days of “unwind” before next Wednesday’s Fed meeting and Chair Yellen press conference. Last Friday, Rick Santelli and I talked about the ECB and I am posting that but the last few Christmas Eves Rick has had me on and we discuss predictions about the coming year. There are no safe predictions from this blogger as I will venture far from shore but always try to put my best thoughts forward.
Notes From Underground: Santelli Exchange–Yuan falls after Chinese intervention
August 11, 2015
Click on the image to watch me and Rick discuss China’s intervention and what this means for the global economy.
Notes From Underground: Are Markets Still the Place to Be? (CNBC)
April 10, 2014
Click on image to watch me discuss the markets, ECB and Mario Draghi.
Notes From Underground: Assessing Fair Market Price (CNBC)
March 26, 2014
Click on the image to watch Rick and I discuss Jeremy Stein’s March 21 speech and the 5/30 curve.