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Tag Archives: Stocks

Eurodollar University’s Making Sense; Episode 63; Part 1: Bernanke Was Not Making Sense, Bonds, Bubbles & Money

63.1 Bernanke’s Idea Doesn’t Make Any Sense———Part 3 Summary———In the early 2000s, bond markets ignored the Fed. Alan Greenspan called it a “conundrum”. Ben Bernanke blamed a “Global Savings Glut”. But recent Federal Reserve research notes events since 2008 upend the Bernanke glut and instead suggest economic weakness and financial fear as causal. ———SEE IT———–...

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Weekly Market Pulse: Nothing To See Here. No, Really. Nothing.

The answer to the question, “What should I do to my portfolio today (this week, this month)? is almost always nothing. Humans, and especially portfolio managers, have a hard time believing that doing nothing is the right response….to anything…or nothing. We are programmed to believe that success comes from doing things, not not doing things. And so, often we look at markets on a day-to-day or week-to-week basis and think something of significance happened and we ought to...

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Eurodollar University’s Making Sense; Episode 62; Part 3: Downgrading ‘Stimulus’ Expectations

62.3 Why the Biden (and Trump!) Stimulus is OVERHYPED———Part 3 Summary———The 2007-09 crisis was a permanent shock. Neo-Keynesians do not believe such a thing is possible. But consumers? Not only do they believe in permanent shocks, they KNOW they are very real. Therefore, the Trump and Biden stimulus payments have NO CHANCE of fixing the economy. ———Episode 62 Intro——— “I glanced at the list, running over names (probably misspelled) that meant nothing to me, with my hand on the butt of my...

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Eurodollar University’s Making Sense; Episode 62; Part 2: *The* Market Speaks

62.2 Best Market Fed Always Ignores: Eurodollar Futures———Part 2 Summary———If there was A SILVER BULLET, if there was ONE RING TO RULE THEM ALL – if there was ONE MARKET TO FOLLOW to track the health of the global monetary order and world economy – it would be the Eurodollar Futures market. Incredibly, the Federal Reserve has a very low opinion of it. ———Episode 62 Intro——— “I glanced at the list, running over names (probably misspelled) that meant nothing to me, with my hand...

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Eurodollar University’s Making Sense; Episode 62; Part 1: Fed Starts to Figure Out How It Really Works, Or QE’s Achilles Heel

62.1 You Won’t Believe it: Fed Admits QE is Unhelpful———Part 1 Summary———Two Federal Reserve researchers claim the Fed, “can effectively reduce the [fragility] of the financial system by reducing the size of its balance sheet.” REDUCING, not growing! To understand their conclusion we discuss: money dealers, interbank loans and collateral. ———Episode 62 Intro——— “I glanced at the list, running over names (probably misspelled) that meant nothing to me, with my hand on the...

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Eurodollar University’s Making MORE Sense; Episode 61: What Did JAY Say?

61.0: LIVE! Reaction: Answering Jerome Powell———Intro———With no way to avert a US downturn, the Fed had to act forcefully to limit damage. So says Federal Reserve Chairman Jerome Powell. Jeff Snider listens and reacts to Powell’s case that the disruption wasn’t the Fed’s fault. ———SEE IT——— Twitter: https://twitter.com/izakaminskaTwitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil...

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Eurodollar University’s Making Sense; Episode 60; Part 3: The Cheques Didn’t Cash At Jay’s Dunkerque

60.3 Powell likens Fed’s COVID response to Dunkirk———Part 3 Summary———Federal Reserve Chairman Jerome Powell analogized the central bank actions in March 2020 to the heroic evacuation of soldiers from Dunkirk in WW2. A more fitting analogy is the blunderous loss at Dunkirk that necessitated the rescue at all. ———Episode 60 Intro——— Jeff Snider is in his element in Episode 60, in which he observes the 20th anniversary of quantitative easing and notes the unsettling twist in oil futures;...

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Eurodollar University’s Making Sense; Episode 60; Part 2: Oil Twisting

60.2 Oil Market Issues Economic Warning———Part 2 Summary———The headline oil price has been falling since early-March, but insiders were alerted 10 days earlier of possible trouble by the futures curve. What is contango? What is backwardation? Do oil futures tell us the economy is struggling to gain additional liftoff? ———Episode 60 Intro——— Jeff Snider is in his element in Episode 60, in which he observes the 20th anniversary of quantitative easing and notes the unsettling twist in oil...

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