Author Archives: macromon

Merkel Retains Power, Far Right Moves To Bundestag

Just when you thought eMac – Emmual Macron –  had stamped out right-wing populism in Europe, here come the Germans.   The country’s two leading political parties,  the Christian Democrats (CDU/CSU – “The Union) and the Social Democrats (SPD),  who are … Continue reading

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Week In Review – September 22

Global Stock Indices Relatively quiet week in global equity markets given the FOMC’s historic decision to start reducing the Federal Reserve balance sheet, to which we called the market action a big double cheese non-burger. Argentina continues  rockin’ the free … Continue reading

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Sector ETF Performance – September 22

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Global Risk Monitor – September 22


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The Sermon On The Mount[ain Of Debt]

“Blessed are the young, for they shall inherit the national debt.” – President Herbert Hoover The Hoover administration thought there was no room and was ideologically opposed to fiscal expansion to stimulate aggregate demand.  Furthermore, Keynesian theory was not even … Continue reading

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COTD: The Trillion-Dollar Club

Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker U.S. dollar. The milestone valuation was reached for the first time on Sept. 19 at 2:01 a.m. in … Continue reading

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FOMC: A Big Double Cheese Non-Burger

Monetary policy history made today. The  Federal Open Market Committee (FOMC)  confirmed it would begin its long-awaited quantitative tightening (QT). In October, the Committee will initiate the balance sheet normalization program described in the June 2017 Addendum to the Committee’s … Continue reading

Posted in China, Euro, Eurozone Sovereign Spreads, Fed, German Bund, Monetary Policy, Sovereign Debt | Tagged , | 2 Comments

Fed Day With Extremely Loose Financial Conditions

Today is the day,  folks. The consensus is the Fed announces the start of quantitative tightening (QT).   History in the making. Draining Liquidity Though monetary tightening officially began in December 2015,  this will be the first time the Fed drains … Continue reading

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China’s Communist Party Structure

We noticed today  someone tweeted an old post from our blog from way back when.  It has an excellent graphic of the structure of China’s Communist Party and its leaders that were selected after the last Party Congress in 2012. … Continue reading

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COTD: China Levers Up As ROW Does Opposite

We knew that credit expansion is the mother’s milk of economic growth,  but even this chart surprised us.   The global nominal private non-financial debt level x/ China has been flat since 2008.   As in flat in nominal terms not as … Continue reading

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