What Can Kill The S&P; What Can Save EMs; Just Two Things

Only severe domestic pain would change the US narrative. The easiest way to see how it might happen is if the US$ massively overshoots, and then blows back via various transmission mechanisms (from liquidity to SPX EPS growth rates).

  • Aug 17, 2018 9:14 AM

Did Russia Really Dump Its U.S. Debt?

Russia appears to have sold only about 45 percent of its Treasury holdings—substantial, but far less than the 84 percent the media is reporting.

  • Aug 13, 2018 6:05 PM