DB: end of the beginning or beginning of the end? Macro Man Friday, September 30, 2016 28 Comments Macro Man So, Deutsche Bank. Macro Man wrote on Tuesday that he had " yet to hear any of the 2008-style 'x is no longer trading with y'... Read More
What's more important to savers: nominal or real rates? Macro Man Thursday, September 29, 2016 38 Comments Macro Man Unlike most factories throughout the globe recently, the rumour mill has been working at full capacity this week. The recent cuts to the Sa... Read More
Front end spread widening: not just a regulatory thing Macro Man Wednesday, September 28, 2016 14 Comments Macro Man The DOJ taketh away, and the DOJ giveth back. While the $14 billion charge from the Department of Justice represents a Sword of Damocles ha... Read More
So much for the holding pattern Macro Man Tuesday, September 27, 2016 23 Comments Macro Man So much for the holding pattern. While 84 bps on the SPX felt worse than it probably should have, given how accustomed markets have become... Read More
Holding pattern Macro Man Monday, September 26, 2016 52 Comments Macro Man Are markets going to enter a holding pattern this week? Obviously, that doesn't mean that nothing can or will happen, but it's a bi... Read More
The student loan debacle Macro Man Friday, September 23, 2016 41 Comments Macro Man Well, yesterday panned out largely as expected, with bond markets buoyant and equities following suit. If the dollar fared a bit better tha... Read More
Fed post-mortem Macro Man Thursday, September 22, 2016 17 Comments Macro Man Well, in the end the Fed did largely what Macro Man expected. The hint of a December move was, if anything, more overt than anticipated, an... Read More
It's raining dots Macro Man Wednesday, September 21, 2016 17 Comments Macro Man Hi, we're your central bank And have we got news for you You better listen Get ready, all you Fed funds shorts And leave those sell ... Read More
The BOJ in a nutshell Macro Man Wednesday, September 21, 2016 26 Comments Macro Man * The deposit rate was left unchanged. * The much vaunted yield curve targeting, the "Qualitative and quantitative easing with yield ... Read More
Brother, can you spare a loan? Macro Man Wednesday, September 21, 2016 9 Comments Macro Man Macro Man is writing this before the BOJ announcement, though by the time you read it we'll know the policy choice that was made. If it... Read More
Kuroda's conundrum Macro Man Tuesday, September 20, 2016 38 Comments Macro Man Imagine that you are Haruhiko Kuroda. Appointed by a once-failed prime minister keen to redeem himself, you have been given carte blanche t... Read More
Overcapacity Macro Man Monday, September 19, 2016 16 Comments Macro Man Another week begins, and it's hard to figure out what the talking points may be for the next few days...err, scratch that. Focus will c... Read More
Annie get your fine Macro Man Friday, September 16, 2016 24 Comments Macro Man In the wake of the DOJ's $14 billion fine on Deutsche Bank- coincidentally, almost exactly the same as the belated tax bill that Europea... Read More
The impact of NIRP on inflation: some empirical evidence Macro Man Friday, September 16, 2016 39 Comments Macro Man Another day, another round of lousy US data, another sell off at the long end of the curve, and another big move in the SPX. Only this time... Read More
A respite from the cesspit Macro Man Thursday, September 15, 2016 15 Comments Macro Man So bonds took a respite from the cesspit yesterday, though the follow though from the strong open was less than impressive. Still, the bes... Read More