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In Bessent We Trust
The Bond Vigilantes like Scott Bessent, who was nominated to be US Treasury Secretary by Donald Trump yesterday. Their vote…
Fiscal Policy
16 posts
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Modern Monetary Magic At Work
Republican Everett Dirksen was the Senate Minority Leader during the 1960s. Cautioning that federal spending had a way of getting…
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Bond Vigilantes Started Voting Early
The US presidential and congressional elections aren't until November 5, but the Bond Vigilantes are voting early. The…
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The Blob Keeps Growing. So Why Aren't Bond Yields Soaring?
The federal deficit narrowed a bit to $1.63 trillion over the 12 months through April (chart). However, over the…
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The Economic Week Ahead: May 6 - 10
It's slim pickings this week on the US economic front. The news is mostly about credit conditions. Then…
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The Blob
The US federal deficit reminds us of the 1958 science fiction horror classic, "The Blob." It stars none-other…
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The Economic Week Ahead: April 8 - 12
This week will feature some key inflation numbers. The March headline CPI (Wed) and PPI (Mar) will get a boost…
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Fairy Godmother Of The Bond Market
When Janet Yellen was Fed chair from 2014 to 2018, we often referred to her as the “Fairy Godmother of…
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S&P 500 Earnings At Record High
Yippee! S&P 500 operating earnings per share rose to a record high in Q3, for the first time…
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Stock Prices Are Jumping Again
After the stock market closed on Friday, Moody’s reduced the US government's credit rating from “stable” to…
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The Economic Week Ahead: October 9-13
This is a big week for two big issues troubling the bond market, namely inflation and the US federal budget…
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Uncle Sam Downgrade Raises Caution Flag
In yesterday's QT, we noted that the 10-year Treasury bond yield was back just over 4.00% and…
