DTUL News and Press, Barclays Bank PLC ZC SP REDEEM 13/08/2020 USD 50 - Ser A 06740L469 From 02/05/19

Wake up America! It is only massive and unsustainable deficit spending that continues driving our economy forward. This is why the President's fixation on the stock market and not the real economy represented by Main Street does a great disservice to Americans. While Trump may have been correc...

Editor's note: Originally published at tsi-blog.com on February 4, 2019 Bank reserves are a throwback to a time when the amount of receipts for money (gold) that could be issued by a bank was limited by the amount of money (gold) the bank held in reserve. Under the current moneta...

I have discussed how there is a sort of mental accounting problem with the yield curve model. The zero-slope is treated as a constant, when, in fact, meaningful inversion happens at low yields when the 10-year yield is as much as 1% higher than the fed funds rate, and at higher yields, the i...

The iShares 1-3 Year Treasury Bond ETF ( SHY ) has been rallying since November 2018 amid a dovish Fed. Fed chairman Powell’s latest statements have also been a boost to the ETF, as they caused yields to plunge. While the SHY ETF will continue fluctuating amid new economic data coming i...

By Eric Winograd The magnitude of recent market reactions to the Fed's comments makes it clear that communication between the Fed and the market isn't working: the market is too focused on the Fed - and not enough on the economy. One solution? The Fed should stop giving forward guidance ab...

Have you heard of the term Modern Monetary Theory (MMT)? If you haven't, don't feel bad. It's not a harbinger to "that moment" when you suddenly realize you've crossed the meridian and drifted into what's known as middle age. You know, like, when you thought it would be better to once again ...

My main job on these pages is to distill the market Narrative™ for my readers, and recent events have made this week’s missive a layup. The debate on whether to fire, and how to arm, the fiscal bazooka has continued, and now monetary policymakers have joined the party. For a whil...

By Paul English, CFA®, Head of US Investment Grade Research, and Matt Brill, CFA®, Senior Portfolio Manager, Invesco Fixed Income , on Jan 31, 2019, in Fixed Income The strong economy and market pressure may drive companies to pay down debt. Recent market stress surroundin...

Over the last seven years, as we have grown to well over 4000 members in our various services, I am often asked by our members to opine about various financial books. Clearly, I am unable to read all of the ones being asked of me, but when enough of the members I trust suggest a certain book, ...

Today's question, who buys and holds America's federal debt? To begin, the chart below shows the growth of US debt (split between public marketable debt and non-marketable Intra-Governmental holdings) and Federal Funds rate since 1970. Public marketable debt is skyrocketing while debt held b...