How Transitory is Transitory?

The interplay between a central bank's forward guidance and market expectations are where the rubber hits the road on long-term interest rates. It's not as easy as divining what a central bank wants to do or what market participants think…

Europe: Don’t call it a comeback

I have four things on my mind today: Bullish PMIs in Europe, the electric Ford F-150 launch, non-payment on bond by Unicredit, and the Biden Administration's non-embrace of MMT. Let's take each of these in turn European economic data Look…

European tech is about to explode

You know, as I started writing today, I tried to think of a headline to suck you in. If you're reading these words, you're either a loyal reader or you got sucked in, which was my purpose. So let me tell you where I'm going with this. At…

Will the Fed(s) stay the course?

This post on the bond vigilantes is inspired in part by my friend Kevin Muir and a post he just did over at The Macro Tourist. It's also inspired by the inflation numbers that came out of the US earlier today. The question to answer: how…

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