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Category: Fed

*Beta Rotation Index, +9.65% Year to Date thru 9/2/2016, remains in offense mode (click here for why this matters) *Pension Partners Tactical Exposure Model +16.48% Year to Date thru 9/2/2016 “If people never did silly things nothing intelligent would ever get done.” – Ludwig Wittgenstein I knew when writing last week’s “Dear Fed, Please STFU” […]

Canceling Signals

“This is a big, big gamble to be manipulating the most important price in free markets, interest rates. These purchases are canceling market signals. The bond market and the stock market have provided wonderful signals for many years as to potential problems. And when you cancel those signals, you could run into a problem. I […]

The Deflation Myth

Deflation, Deflation, Deflation. Central bankers around the world can’t seem to get enough of the D word. Deflation is rampant and needs to be purged, they say, justifying rate cuts and even negative interest rates. The U.S. Federal Reserve bucked the trend last December in raising rates to a paltry 25 bps (its first hike […]

The Easy Money Game Has Changed

  • Fed, Markets
  • Charlie Bilello

Why you should hope the Fed hikes again in 2016… Like Pavlov’s dog, market participants seem to salivate with any mention of quantitative easing (QE). For good reason, I suppose, as they have been conditioned to believe that quantitative easing means higher stock prices. Indeed, since QE1 was launched in December of 2008, all of […]

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“There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.” – Erma Bombeck In times like this, where everyone seems to panic out of not just asset classes, but also strategies, introspection is a worthwhile endeavor.  After having been on the road for nearly two years now and presenting […]