Posts

Understanding Why Currencies Move: Vicious and Benign Circles

Let’s talk about currencies. The different types of currencies and the various roles they play in the global financial system.

Because this topic is complex and I don’t want to get lost in the weeds, I’ll be making broad sweeping generalizations while focusing on the key points that matter. My plan is to do this while trying not to bore you to death. Read more

A Dangerous Populist Feedback Loop

Most are familiar with the term “pavlovian response”. Here’s a short explanation via Wikipedia: Read more

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Peak Bonds Interview With Financial Sense

Last week Tyler linked up with our friend Cris Sheridan at Financial Sense to discuss the peak in the bond market. The last time they talked in July, Tyler explained the asymmetric risks bond investors were facing with yields hitting a lower bound. We saw the result of that asymmetry over the last month as bond markets quickly lost more than $1 trillion after the Trump win. In addition to the top in bonds, they also discussed: Read more

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Regime Shift: What Trump Means for Markets

It’s interesting how quickly the consensus around what a Trump presidency means for markets went from “it’d be an unequivocal disaster” to “his policies will bring forth a new and lasting economic expansion.” Read more