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The government is in a panic over the bank crisis to tell you not to panic over the bank crisis.
Episode 428
Jeff and Steve speculate on why Treasury Secretary Janet Yellen called an unscheduled meeting of the Financial Stability Oversight Committee Friday. …
3 years, 2 months ago
Huge, historic moves keep rocking the global systems as governments start to panic.
Episode 427
More huge moves in markets as the Fed releases yet more crisis-level data. Treasury bill auctions continue to pile on huge demand, surging prices and…
3 years, 2 months ago
What is the 2008 trap and how do we avoid it?
Episode 426
Jay Powell's press conference yesterday acknowledged both parts of the 2008-style scenario present right now. But like his 2008 predecessors, he is o…
3 years, 2 months ago
This next move is going to be their last - and they know it even if they aren't ready to admit it.
Episode 425
The Fed hiked rates, no surprise, even raised consumer price forecasts and the infamous dot plots. Markets, no surprise, did not buy it one bit. ther…
3 years, 2 months ago
So-called lender of second-last resort has already begun preparing for the worst.
Episode 424
Yet another funding crisis indication comes to us in a report from Bloomberg. FHLB co-ops are issuing debt like we've never seen before in what can o…
3 years, 2 months ago
There really is serious systemic potential about Credit Suisse.
Episode 423
Another Sunday action by the Fed, this time less about regional US banks instead acknowledging major global (euro)dollar potential dysfunction. Some …
3 years, 2 months ago
Severe consequences to expect months, weeks, even days ahead.
Episode 422
The deflationary outburst shook up the world and it is still spreading. Financial aftershocks are still being felt but the economic fallout hasn't ev…
3 years, 2 months ago
Collateral runs keep on coming and China chimes in with its own warning sign.
Episode 421
Why would anyone want to buy a T-bill from the government which didn't return anything? A zero interest loan to the feds makes no sense when you can …
3 years, 2 months ago
They say everything is fine/back to normal. We can clearly see it is not fine/nowhere near normal.
Episode 420
The ECB hiked its interest rate benchmarks today by 50 bps. Markets everywhere basically ignored it. What happened over the past week has already lef…
3 years, 2 months ago
Multiple markets now say the crisis has begun.
Episode 419
The curve shape we've been waiting for - and dreading - has finally shown up. This "bad steepening" indicates a 2008-style scenario is unfolding righ…
3 years, 2 months ago