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Light posting schedule
I have had some personal affairs to attend to and will continue to be occupied over the next several days and won't be able to post often. I will try as best I can to get some posts out but I am not sure I will be able to. Bare with me over…
Fed’s Lacker: Growth Sluggish, Fine with Tapering
In the wake of the selloff in stocks and bonds after the Fed laid out its timetable for tapering, markets are looking to see whether they have misread the Fed. Fed Presidents Bullard and Kocherlakota have spoken and both were pretty dovish.…
Emerging markets for sale
Floating emerging markets currencies have been under tremendous pressure over the past month, as active investors move out. Slowing growth, political instability, and weaker demand for natural resources have all contributed to the sharp…
Krugman is right about the market reaction to the Fed’s tapering
Paul Krugman penned a New York Times Op-Ed, "Et Tu, Bernanke?", referencing the famous Shakespeare quote "Et tu, Brute" which is generally used to signal betrayal from someone unexpected. Krugman meant to say that the Fed has betrayed the…
QE, the expectations fairy and other bedtime stories
There are perhaps more myths about QE than almost any other monetary policy instrument. Here are five of the most pernicious QE myths.
Banks can benefit from steeping yield curve though headwinds remain
The treasury curve has steepened materially over the past few weeks, driven by Bernanke's seemingly hawkish statements. One group of companies that will benefit from this adjustment is the banking sector.