Bond

Bank Of Japan Leaves Policy, Economic Outlook Unchanged

Confirming the expectations of all 41 economists, The Bank of Japan changed absolutely nothing about its monetary policy tonight following The Fed's 3rd rate hike in 11 years. The BOJ said in a statement that it would keep the two key rates at current levels, maintain the pace of its asset purchases, and did not change its economic outlook.

China Unexpectedly Tightens Monetary Policy

Following The Fed's 3rd rate hike in 11 years, the PBOC decided, unexpectedly, to follow in the Fed's footsteps, and tighten conditions by raising the interest rates on its open-market operations, the 7-, 14-, and 28-day reverse-repos, by 10bps each, to 2.45%, 2.6% and 2.75% respectively.

Paul Brodsky: "Stagflation On The Horizon"

Logic and current trends suggest that declining output growth accompanied by higher prices will begin hitting economies and facing policy makers in the coming years. Markets should begin sniffing out this stagflationary macroeconomic setup this year.

Gartman Is About To Short "Industrialized World" Markets

"We wish also to err upon the side of owning Japanese equities while being short of the markets of the rest of the “industrialized” world. We’ve refrained from taking that position ahead of the FOMC meetings... but barring some untoward and/or surprising event at the meeting’s end today, almost certainly we shall take such action tomorrow."

What's Next With America's Enormous $20 Trillion Debt?

History is full of examples of debt bankrupting dominant superpowers, going all the way back even before the ancient Egyptians. This time is not different. Debt is a ticking time bomb. And in this case, given the widespread consequences across the world, the bomb is nuclear.

Goldman Downgrades Stocks One Day Before The Fed: "Asymmetry For Equities Is Getting Worse"

"With growth momentum nearing its peak and rates increasing further with a hawkish Fed, the asymmetry for equities is turning increasingly negative. This also means more vulnerability to potential shocks, e.g., from European politics, US policy, commodities and China. Given the asymmetry for equities is getting worse, we downgrade equities to Neutral for 3m."

Stockman Explains The Mystery Of The Treasury's Disappearing Cash

What’s different this time around is that the deep state bureaucrats have apparently decided to sabotage what they undoubtedly believe to be the usurper in the White House. To this end, they’ve been draining Trump’s bank account rather than borrowing the money to pay Uncle Sam’s monumental bills.