DLBS News and Press, Barclays Bank PLC ZC SP ETN REDEEM 13/08/2020 USD 50 - Ser A 06740L444 From 03/21/19

There’s no real nice way to say that I found Wednesday's FOMC minutes to be disgraceful. The only conclusion I’m left with is that Jerome Powell has capitulated and is now scared of either the market turning on him, the president turning on him or both. Otherwise, how do you expl...

In relationship to GDP, the balance sheet will continue to shrink until some magic unknown point is reached. The Fed has a new plan for what to do with its balance sheet and today announced several major components of it: Begin tapering the "runoff" of Treasury securities in May. End...

We are at a time in history where the words of central bankers hold sway on the overall risk sentiment in the markets. Mario Draghi's European Central Bank announced in March that the central bank would open up cheap loans to European banks and would take their time to normalise policy - kee...

Background Beginning last July, I began tilting a bit toward bonds over stocks, though I liked them both. On July 16 I wrote How Bonds May Be Setting Up Bullishly (Here Comes Goldilocks?) . I suggested that the aggressive Fed tightening could bring the 10-year Treasury bond down to 2.4% fro...

Introduction For the last several years, I have described the Fed’s interest rate regimen as trying to steer a path between the Scylla of an inverted yield curve (if long rates stayed low) and the Charybdis of a downturn in housing (if long rates moved higher in tandem with low rate...

S&P 500: What Is Priced In Today? Starting in January of this year, I started to write about the earnings expectations that are priced into the S&P 500 or the more commonly traded SPDR S&P 500 Trust ( SPY ) ETF. I started in January by writing a research note, which you can fi...

There are many authors and commentators on Seeking Alpha who understand the American banking system. There are others who do not. This article provides an overview of its functioning and recent history, and my perspective on the likely outcomes and implications. I wrote it so I can refer to it...

By Paul Eitelman As expected, the U.S. Federal Reserve (the Fed) left interest rates unchanged at the conclusion of today's policy meeting, once again emphasizing a patient approach to monetary policy in the months ahead. No one should be surprised by this. After all, following Chair J...

Overview: The dovishness of the Federal Reserve sent ripples through the capital markets. US equities reversed initial gains, but Asia Pacific equities edged higher, though Japanese markets were closed for a national holiday. European shares are struggling, as financials and consumer discret...

If "rate hikes" and QT are the world's big problem in 2019, then why is the FOMC announcing the end of "rate hikes" and QT failing to have a positive effect? The answer will surprise most people. Central banks, dominated by central bankers who are Economists, meaning statisticians, are always ...