The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May. The Atlanta Fed forecasts a big boost in […]
NY Fed Unleashes SOFR, the U.S. Rival to LIBOR…
In an effort to offer a more transparent alternative to U.S. dollar Libor, the New York Federal Reserve released its first Secured Overnight Financing Rate (SOFR) Tuesday. SOFR opened at 1.80. Considerably lower than either the ICE Libor 1 month or 3 month rates. The Secured Overnight Financing Rate (SOFR) is a broad measure of […]
My Kuroda! Not a Single Japanese 10-Year Bond Traded Tuesday…
The Bank of Japan has vacuumed up so much of the government bond market — in excess of 40 percent — that it’s left fewer securities for others to buy and sell. Some other buyers, such as pension funds and life insurers, also tend to follow buy-and-hold strategies. That’s the backdrop to Tuesday’s session, when […]
How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders by Ellen Brown…
During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island’s bond debt. He said on October 3rd: You know they owe a lot of money to your friends on Wall Street. We’re gonna have […]
My Political-Financial Road Map for 2017 by Nomi Prins…
The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet. My prognosis is for more destabilization, financially and politically. In other […]
Donald Trump Is Inheriting the Best Economy in a Generation(???) Bubbles, Worst Wage Recovery Since 1965, etc.
(Mis)Fortune magazine had a story which I actually mistook for a story from The Onion or National Lampoon. But sadly, it was a real story: “Donald Trump Is Inheriting the Best Economy in a Generation.” Let’s look carefully at the “best economy in a generation”…