Looking Backwards … LB #1 The bond market had a 20 year auction this week and it went off terribly. We talked in Bygone Relics this week about the massive turnaround and huge rally in stocks and bonds and what were some of the catalysts. Geopolitical risks, bond sales sleight of hands, maybe even the …
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Looking Backwards … LB #1 The markets were definitely picking up what Jerome Powell was putting down as the Fed left interest rates flat on Wednesday and Powell’s presser came out with a more dovish tone than expected. He didn’t pivot, but he alluded to a pivot and that was all the markets needed. We …
Looking Backwards … LB #1 Last Sunday night in the Asian markets, gold broke out above $2,100 running all the way up to $2,135 before it triggered a wave of selling. From up almost $60 an oz overnight to down $40 at the end of the Monday session, gold is moving. We go to the …
Looking Backwards … LB #1 Henry Kissinger died this week at the age of 100. We have talked about his influence on American politics before and how he was the architect of the Petrodollar system as America battled with high energy prices during the 1970s. It was also the inflation stemming from coming off the …
Looking Backwards … at a Thanksgiving week that has left me in a fantastic mood this morning as sensibility and accountability are starting to be restored on this little blue marble, after too much wondering “what the hell is going on around here?” let’s explore… LB #1 The people of the globe are starting to …
Looking Backwards… LB #1 The ad market is broken and it reveals insight to where the puck is going. Axios reports that in media Buzzfeed saw a 35% decline in ad revenue year over year, Dotdash Meredith down 12% and the Wall Street Journal parent down 3%. Major media networks Warner Bros., Comcast/NBC Universal, Paramount, …
Looking Backwards… LB #1 A Friday night dirtie got done after the markets closed when Moody’s downgraded the US outlook to negative from stable. They didn’t go so far as to downgrade our debt which is still triple Aaa but it is the last straw before it does. “While the statement by Moody’s maintains …
Looking Backwards… LB #1 We recently mentioned that the markets were in a fragile place and it turned out the market listened. The Japanese Yen was at the important 150 level and the market went through that level as the Bank of Japan kind of eased off their stance of yield curve control, but not …
Looking Backwards… LB #1 We often talk about what Doomberg says, “Energy is life.” Europe got their energy supply cut off last year and they are feeling the economic consequences, and they will moving forward. Their economy is slowing dying. Their experiment with green energy is blowing up as we speak. Wind energy giant Siemens …
LB #1 Jim Jordan has tried but could not get enough votes this week to become speaker of the house. He was a little too Trump-ish of a firebrand by all accounts. Its been a couple weeks since Matt Gaetz forced a motion to vacate and we still have no speaker and boy are the …