Tag Archives: Quantitative Easing

Bank of Japan Eases

Posted on December 19, 2012 by

Bank of Japan announced this morning it would increase its Asset Purchase Program by 10 trillion yen, from 91 trillion to 101 trillion yen. They split evenly, buying 5 trillion in T-Bills and 5 trillion in JGBs.  The Bank released … Continue reading →

Posted in Japan, Monetary Policy | Tagged , , | 3 Comments

Bonds Away?

Posted on August 8, 2012 by

The 10-year Treasury yield is starting to bump up against some key resistance levels around 1.68-1.70 percent.   Can’t tell you what it means in these  squirrelly markets, but it is confirmation of the rally in equities. We’re waiting for the … Continue reading →

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Cue Up Gold

Posted on July 25, 2012 by

After the Hilsenrath QE story, which broke in the last hour of yesterday’s equity session,  gold has started its move.  It’s up over $20 today  breaking out of a symmetric triangle formation. We believe is gold is driven primarily by … Continue reading →

Posted in Gold, Monetary Policy | Tagged , , | 1 Comment

Parabolic Moves and Gold

Posted on July 22, 2012 by

The Fed finds itself extremely unlucky once again as it talks up quantitative easing while food prices, mainly wheat and corn,  are making a parabolic and historic move as crops suffer from extreme drought.   You can’t prove causation with … Continue reading →

Posted in Black Swan Watch, Commodities, Gold, Inflation/Deflation | Tagged , , , , , | 1 Comment

Bernanke & Data Disappoint Goldbugs

Posted on June 7, 2012 by

You can see from the chart that gold starting selling off right around the release of the Beige Book yesterday, “Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period … Continue reading →

Posted in Gold, Monetary Policy | Tagged , , , , | 1 Comment

Gold In Full Blown QE Mode

Posted on June 6, 2012 by

Gold is a weird cat with multiple personalities and more than nine lives.  The yellow metal is up almost $100 since last Friday’s weak U.S. employment report. At any given time period  gold will assume any one of its multiple … Continue reading →

Posted in China, Gold, Inflation/Deflation, Monetary Policy | Tagged , , | 1 Comment

Bernanke’s “No Mas” Send Gold, Bonds, & Yen into Swan Dive

Posted on February 29, 2012 by

Wow!  Take a look at gold, bonds, and the yen after Fed Chairman Ben Bernanke’s testimony on Capitol Hill was interpreted as “no mas” on further quantitative easing.  We we’re a little too complacent with our covered gold positions and … Continue reading →

Posted in Bonds, Gold, Japan, Monetary Policy | Tagged , , , , | Leave a comment

Is the Fed ready for the bond market’s Arab Spring?

Posted on February 16, 2012 by

We’ve updated our database of the Federal Reserve’s ownership of the U.S. Treasury coupon curve.  The resulting chart highlights a couple of interesting issues about its structure and holdings of outstanding notes and bonds. First, though nothing new, it shows … Continue reading →

Posted in Black Swan Watch, Bonds, Sovereign Debt, Sovereign Risk | Tagged , , , , , | 3 Comments

The Race to Debase

Posted on January 16, 2012 by

Wow!  Nice catch up by the ECB.   Don’t you get the feeling more QE3 talk from from the FED confirmed by dollar stabilization — i.e., non-strength — will ignite gold like a bottle rocket? (click here if chart is … Continue reading →

Posted in Dollar, Euro, Gold | Tagged , , , , , | Leave a comment

Did Expectations of Debt Monetization Cause Today’s German Bund Auction to Fail?

Posted on November 23, 2011 by

Let’s try this again. In our post, The Biggest Bubble in History, we tried to convey that a monetization of Europe’s  sovereign debt is not equivalent to the quantitative easing that  has taken place in the U.S. , Japan, and … Continue reading →

Posted in Black Swan Watch, Euro, Sovereign Debt, Sovereign Risk | Tagged , , , | 1 Comment