Central Banks

Global Stocks Rise Amid Strong Economic Data; Yen Drops To 2 Month Low As Oil Resumes Slide

In a quiet overnight session, S&P 500 futures are fractionally in the green (2,426, +0.2%) with European and Asian stocks as oil drops second day after an initial ramp higher amid speculation that LIbya and Nigeria may be asked to cap their production. Nasdaq 100 Index are again higher, following the biggest daily advance in more than a week, up 0.4% as of 6:20 a.m. in New York.

One Hedge Fund CIO's Conversation With His Uber Driver

“Paying my way through college,” said my Uber driver. I was asking about his life. “My girlfriend pays most of our rent.” She’s carrying $150k in college debt. Four years of university, one year abroad. Spain. Then graduate school. I asked what he’d do with his degree? “No idea. I just don’t want to graduate with that much debt.”

Tales From The FOMC Underground

"Many of today’s economic troubles are due to a fantastic guess proved false... That the wealth effect of inflated asset prices would stimulate demand in the economy."

The Hidden State Of Money: Bonds, Bias, & Bullshit

"...the bond market is one of the few legitimate windows into hidden monetary conditions, and what it has said about the 21st century isn’t what economists and policymakers want to hear. The conundrum and its current revival are just that simple."