When looking at tomorrow's $100 billion liquidity drain, the repo market should be able to digest it without a surge in the G/C repo rate. If, however, the first repo prints on monday come in at 2% or higher, it will mean that Pozsar's year-end doomsday forecast may well come true.
...any meaningful property tax reduction, such as matching rates for neighboring states, would require reforms that our political establishment won’t consider...
Trump may have taken what wasn't broken, namely the tried and true strategy of ramping the market higher on daily speculation and "trade deal optimism", and "fixed it", in the process opening a trade deal Pandora's Box.
Once the dollar was freed from the discipline of gold, the repeating cycle of bank credit was augmented by the unfettered inflation of base money, a process that has continued to this day...
"The significance of quant in our clients’ investment process is clearly on the rise. Increasingly, they are applying sophisticated quantitative techniques in investment analysis and alpha generation, beyond pure quantitative or factor investing"
“In a world with two gold prices, the price of physical gold will predominantly behave as a safe haven. The other gold price, by contrast, will act more like a financial asset and can serve as an anti-dollar investment.”
Without a “trade deal” to negotiate, there is no catalyst to support asset prices heading into the election. This is why on Friday, Trump immediately declared that “Phase Two” of the trade deal would begin immediately...
