Silver as an investment

Category Archives: Muni Bonds

BofA: The “QE Monster” Only Ends When “The Wall Street Bubble” Finally Shocks The Fed

Below we excerpt some of the latest observations from BofA’s Michael Hartnett, who nearly a year ago first penned the “Icarus trade” concept – i.e., the final push in the US stock market to its all time highs –  and who has been expecting a “blow off top” to stocks, before it all comes crashing […]

Gundlach: Bonds Won’t Bottom Until Panic Sends VIX Above 40

Over the past two years, Jeff Gundlach has been alternating between dispensing fire and brimstone, and doom and gloom. More importantly, he has also been right which explains why as his arch nemesis Pimco has been losing billions in AUM, Gundlach’s DoubleLine has been getting bigger by the day. Today, in another email exchange with […]

What Happens When Stocks Catch Up With Commodities?

Since 2009, the global markets have been largely steered by Central Bank policy, NOT organic economic growth. With the debt-based monetary system dangerously close to shutting down during the 2008 meltdown, Central Banks stepped in as the “buyers of last resort” to provide a backstop to the system.   The problem is that the individuals […]

ECB’s Coeure Sees “Little Bubbles”

It would appear The ECB has undertaken the same baffle’em with bullshit meme the rest of the world’s central planners have embraced. Speaking this morning (this time not to a private hedge fund group), The ECB’s Benoit Coeure stated unequivocally that “The ECB doesn’t see overvalued asset prices.” Well that’s nice, apart from the -38bps […]

The ECB Should Stop QE Before Draghi Causes A “Financial Crisis”, German “Wise Men” Warn

Back in July, Germany’s economic “wise men” took a look at bailout “success” and “failures” and came to a rather disconcerting conclusion. Here’s what the Council of Economic Experts said in their report: A permanently uncooperative member state should not be able to threaten the existence of the euro. In view of this, the Council […]

EUR Slides On News ECB May Expand QE To Muni Bonds Next

After a disappointingly un-uber-dovish speech this morning by Draghi,it appears The ECB needed to full ease-tard to make sure ‘markets’ believe. EURUSD tumbld 50 pips – to the lows of the day – after Reuters reports that, in what is becoming increasingly clear desperation, The ECB is mulling buying the debt of cities and regions. […]

Sweden Warns That Government Debt Can Be Risky… Unless It’s Swedish Government Debt

On Wednesday, Sweden’s Riksbank will announce its decision on whether to cut the repo rate further into NIRP-dom and on whether to expand QE. Who’s excited?  Ok, so it may not sound as compelling as “US sails guided missile destroyer around man-made Chinese military outposts,” but tomorrow’s decision by Sweden’s central bank actually has serious […]

Is Mario Draghi About To Go Full-Kuroda? RBS Says ECB Could Buy Stocks

At Thursday’s presser, Mario Draghi telegraphed more easing from the ECB come December.  This wasn’t exactly a surprise. In fact, some observers had expected Draghi to expand PSPP at the September meeting and although the market was disappointed in that regard, the ECB did raise the issue limit from 25% to 33% effectively giving themselves […]

Ignorance Is Not Bliss

Submitted by Ben Hunt via Salient Partners' Epsilon Theory blog, This is the concluding Epsilon Theory note of a trilogy on coping with the Golden Age of the Central Banker, where a policy-driven bull market has combined with a machine-driven market structure to play you false. The first installment – “One MILLION Dollars” – took […]

A Desperate Sweden Looks To “Fix” Broken QE With Massive Muni Monetizing Madness

Way back in June we documented the “curious” case of Sweden’s broken QE and when we used the term “broken”, we didn’t just mean that inflation expectations weren’t moving higher. We meant that bond yields were rising and the SKE was strengthening.  How was this possible, you ask? Simple. In the minds of market participants, […]