RRP + TGA
OK, let’s get into it. Sometimes someone says something that jars our memory and reminds us to check some charts. Our buddy Paulo Macro has done just that and as a result, we’re going to shamelessly steal from his recent piece. Please subscribe to see his other writings. We’re of the view that the global…
More Bear Porn…
Once you look at this chart, you simply cannot unsee it. Our good friend, Kevin “The Macro Tourist” Muir sent this to us during the Wednesday Fed smash. It accurately predicted the subsequent ripper on Friday. If it goes to analog, it likely continues for a few days, then death. Kevin has been harping on…
Eiffel Towers and “Tons of Liquidity”
Turning to the market for a quickie, it sure feels like we’re living through a fever dream here… Yes, the RRP is gushing liquidity everywhere… Yes, the economy is booming… Yes, the inflation is accelerating… Yes, Fiscal is gonna be like 8% of GDP in 2024 (elections need stimmies)… …and amazingly, the Fed is talking…
February 18, 2024, Vol. 164
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