22 March, 2015 by The TZ Newswire Staff Comments Off on US bond market vigilantes have "gone fishing"
US bond market vigilantes have "gone fishing"
It seems like U.S. bond market vigilantes have gone fishing, delegating the guessing game of the anticipated rate hikes to market timers.
22 March, 2015 by The TZ Newswire Staff Comments Off on Dollar on the defensive as post-Fed caution lingers
Dollar on the defensive as post-Fed caution lingers
The dollar on the defensive, after a volatile few days in the wake of the Fed’s dovish steer, which cast doubts on bullish dollar positions.
22 March, 2015 by The TZ Newswire Staff Comments Off on 6 Ways to Deduct Your Job Search Expenses
6 Ways to Deduct Your Job Search Expenses
If you’re looking for a new job, there are many legal deductions that you can take on your taxes.
22 March, 2015 by The TZ Newswire Staff Comments Off on Spot The Odd One Out
Spot The Odd One Out
We hate to spoil the surprise, but the answer, as clearly shown by the first blue bar on the chart below, is Energy, and specifically the ridiculous valuation that energy companies are currently trading at. Why? Because as the following Factset chart shows, the forward P/E of the energy sector is currently 27x – an all time high – and which is more than double the historical multiple of this sector.
22 March, 2015 by The TZ Newswire Staff Comments Off on Central Banks, Credit Expansion, and the Importance of Being Impatient
Central Banks, Credit Expansion, and the Importance of Being Impatient
Below is an extended excerpt from a research note based on the presentation I am giving at the Banque de France on Monday, March 23, 2015, for an event organized by the Global Interdependence Center (GIC) entitled “New Policies for the Post Crisis Era.” You can read the entire note and all of KBRA’s
22 March, 2015 by The TZ Newswire Staff Comments Off on Drowning In Liquidity But None In The Bond Market: The Spark Of The Next Financial Crisis?
Drowning In Liquidity But None In The Bond Market: The Spark Of The Next Financial Crisis?
Of all the themes we’ve been pounding the table on of late, the idea that a lack of liquidity in certain markets will eventually lead to an “accident” or “adverse event” (to use the Center for Financial Stability’s words) is perhaps the most pressing because with the Mario Draghis and Haruhiko Kurodas of the world intent on monetizing every bit of government paper they can get their hands on, “outlier” events such as the Treasury flash crash that occurred last October ar
