bonds

John Hussman has a nice piece out named "Green Shoots over Thin Ice. (hat tip Scott)" Below is the core of his argument regarding the recent rally in stocks and the free gift to bondholders. I have bolded parts of the original to add…

This contribution comes from Marc Chandler of Brown Brothers Harriman, one of my favourite currency strategists. His latest missive highlights the huge amount of debt being issued by sovereigns. It is not just the United States.: Much of…

It is almost like they are trying to manipulate the market prices on a day to day basis. At best the total $300 billion is probably less than 1/5th of total treasury issuance (not counting TARP, etc, for fiscal 2010). By the way, I…

Marshall Auerback here. I do not like the Geithner Plan because it is needlessly expensive. Nevertheless, it could well work. My main objection is that it constitutes the most regressive transfer of wealth in history and it's being done…

Quantitative easing is now the main policy course for the U.S. Federal Reserve. The U.S. Federal reserve is buying $300 billion in long-term U.S. government debt in order to keep interest rates low. As a result, the rally I in Treasuries…

The U.S. dollar is getting hammered today. It is now trading near 1.34 to the euro, 1.42 to Sterling, 96 to the Yen and 1.14 to the Swiss franc. These are huge hockey stick style moves. from 1.30 to the euro, 1.39 to the pound, 98 to the…

Marshall Auerback here. Here is my take on Chinese Premier Wen's recent statements. At the end of the day, too many people seem to be working on an old gold standard type of model in the sense that there are implied limits in terms of…

Relying on the kindness of strangers is not a very good way to ensure one's fate. However, this is certainly what the United States has been doing in running about a mountainous current account deficit. America's largest creditor is now…

Most ordinary Americans feel a certain sense of rightoues indignation about the helping hand the U.S. banking industry is receiving from government. This sense of aggrievement is only made worse by suggestions that governemnt is not only…

I was just re-reading my November post on quantitative easing when I got an alert about Pimco's inflation call.  While I still see downside risk for the economy, and, consequently, deflation, I have grown more worried about inflation -- one…