The Markets in Purgatory
They did it again. They rolled the dice again in favor of $600 billion in purchases, and when we count the repurchases of other paper-instruments (e.g. mortgages and MBS), the amount becomes larger, and that’s for starters. What puzzles us is that all media refer to...Negative Yields, Inflationary Expectations, and Portfolio Allocation: In what Directions is Sisyphus Pushing the Rock?
Just a few days ago the auction for TIPS (Treasury Inflation Protection Securities) produced for the first time ever negative yields. When we take into account that TIPS’ correlation with the conventional inflation measure (CPI) barely exceeds twenty percent, then we...ΙΣΧΟΜΑΧΟΣ ΚΑΙ ΑΣΤΑΘΕΙΑ: CUI BONO?
Πολλά έχουν γραφτεί και ακόμα περισσότερα έχουν ειπωθεί σχετικά με το δίλημμα που έθεσε ο Πρωθυπουργός όσον αφορά το αποτέλεσμα των περιφερειακών εκλογών. Θα ήθελα να ανατρέξουμε κάποιους αιώνες πίσω, μεταξύ 390 και 360 π..Χ. Στον «Οικονομικό» του Ξενοφώντα. Ο...In the Land of Debt: Foreclosures, Commodities, and Quantitative Easing
The securitization problems seem to be making another comeback in the form of “foreclosuregate”, as the Economist newspaper has labeled its latest phase. Banks seem to be admitting to subpar standards in not just approving loans but also proceeding with foreclosures....Sign Up for Our Publications
