Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Yearly Archives
2013
Gross and Hatzius: Jobs report below expectations, Fed will taper anyway
Both Bill Gross of PIMCO and Jan Hatzius of Goldman Sachs do not believe the weak jobs report will be enough to cause the Fed to call off its tapering of large scale asset purchases.
Some initial thoughts on the US Jobs report, the Fed’s reaction function and tapering
The U.S. Job Situation Summary was released this morning at 830EDT and the headline number of 169,000 jobs added to non-farm payrolls was just below consensus. Moreover, the unemployment rate dipped to 7.3%. Nonetheless, the reaction to the…
Distortions are evident in the U.S. mortgage market
Something highly unusual is happening in the mortgage market however. Recently jumbo mortgage rates have been lower than conforming rates. This is one of those market dislocations that most would have never thought possible. Yet here we…
Abenomics and Japan’s disastrous macro plans
Abenomics has been very successful in goosing the Japanese economy thus far. However, the question remains whether this success will be short-lived or durable. I believe it is likely to be short-lived because of the policy constraints that…
China: Rebalancing and long term growth
As analysts and official entities like the World Bank continue to downgrade their forecasts for medium-term growth in China, I have been asked increasingly often for the reasons I believe that 3-4% average annual growth rates is likely to…
Corporate profits: In the long run, valuation means everything
Regardless of the metric that you use, deviations from the long term growth trend are unstainable and will eventually mean revert.