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Guest Post: The Reverse Tepper Moment

Via Kevin Muir of “The Macro Tourist” fame

Think back to September of 2010. At the time, most pundits were bearish US equities. There was a ton of doubt about the efficacy of quantitative easing. 1,958 more words

S&P 500

Historical Pattern Of Financial Markets

FED Actions
This past Wednesday, the Federal Reserve Board raised interest rate by 0.25%, the fourth increase since last year.  At the same time, it announced that it will reduce the size of its balance sheet by USD 30 billion per month, increasing eventually to USD 50 billion per month. 1,093 more words


Dollar Is Happy, Pound Is Sad, And There's Some Yuan Shenanigans Afoot

It’s about Dudley for the dollar which rose to a three-week high versus the yen overnight.

As usual, it was a good cop/bad cop type of deal on Monday with Evans coming across as some semblance of dovish yesterday evening (“could delay next hike until December to assess data”), but Dudley’s “need to do it now so we don’t have to slam on the brakes later” soundbite combined with his contention that “the economic expansion has a way to run and that wage growth is likely to quicken,” supported the greenback. 592 more words

S&P 500

Notes From Underground: Pour a Yamizaki, Enjoy 30 Minutes of Harris and Crudele

This morning I had the pleasure of sitting with a professional trader and discussing several themes that have coursed through NOTES FROM UNDERGROUND for the past several months, if not years. 440 more words


One Analyst Is "Increasingly Grouchy" About The Whole "Hawkish Hike" Thing

Yeah so on Sunday, we said the following about the obsession over the Fed’s “hawkish hike” and the rancorous debate over what it means in the context of a growing deflationary impulse in the US: 423 more words


Market Movers: Pidato Fed Dudley Menjadi Fokus Pasar Hari Ini

Monexnews – Pidato dari presiden Fed New York William Dudley akan menjadi fokus pasar pada hari ini untuk petunjuk apakah penguatan ekonomi AS sudah berjalan stabil. 204 more words


The Money In Your Wallet Is About To Be Collateralized By Your House

Lots of people are understandably concerned about what happens when the Fed starts to shrink its balance sheet.

At some basic level, the angst is tied to the fact that what we’ve seen since the crisis in terms of central bank balance sheet bloat is unprecedented and so, it’s by definition impossible to know what happens when it’s unwound. 1,313 more words