Bond Economics

Since I am allegedly writing about the intersection of the bond market and economics, I need to periodically check in with what is happening...

There are two potential definitions of “reserve currency.” The first is quantitative and weak: do other countries hold official foreign exch...

I continued my record of being an equity market contrary indicator by finishing my last piece with a deeply gloomy discussion of equities th...

Rates markets are starting to act unmoored, with long end Treasury and gilt yields rising. I am not in any position to offer an insider’s vi...

I was hoping to relax after my visit to Rome, but the equity markets are currently in free during the Sunday night futures sessions. At the ...

The latest salvo in Trump’s tariff policy hit yesterday, apparently leaving only the reciprocal tariffs for the big April 2nd “Liberation Da...

Trump is hyping up April 2nd as “(Tariff) Liberation Day,” and it seems foolish to discuss the state of economy until we find out how extens...