Results for balance sheet
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Inflation

August 06, 2022
(Traveling and unable to provide a technical overview this week.) Rising price pressures, stronger and more persistent than generally expected, has been the main challenge for consumers, businesses, and policymakers. It will stay top of mind in the week ahead as both the world's two largest economies, the US and China, report July consumer and…
Inflation Inflation Reviewed by Marc Chandler on August 06, 2022 Rating: 5
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Bond Meltdown

April 06, 2022
Overview:  Federal Reserve Governor Brainard's suggestion of a rapid unwind of the Fed's balance sheet stoked a bond market sell-off that is continuing today, rippling through the capital markets.  The US 10-year yield is rising for the fourth consecutive session.  The six-basis point gain today puts the yield near 2.62%, which represents …
Bond Meltdown Bond Meltdown Reviewed by Marc Chandler on April 06, 2022 Rating: 5
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The Yield-Curve Strawman and the Week Ahead

April 02, 2022
The US 2-10-year yield curve inverted last week, unleashing an avalanche of commentary about the significance. Simply put, market participants do not believe that the inversion is necessarily a harbinger of a recession, outside of perhaps a few headline writers. Some observers set up a simple strawman and proceeded to knock it down. They do not re…
The Yield-Curve Strawman and the Week Ahead The Yield-Curve Strawman and the Week Ahead Reviewed by Marc Chandler on April 02, 2022 Rating: 5
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The Dollar is Sold through CNY7.0 as Chinese Equities Continue to Rally

July 09, 2020
Overview:   Investors continue to clamor into risk assets.  Led by Chinese shares, the MSCI Asia Pacific Index pushed higher for the third session this week to new five-month highs.  Europe's Dow Jones Stoxx 600 is trying to snap a two-day decline with the help of better than expected revenues for its largest tech company.  US shares are littl…
The Dollar is Sold through CNY7.0 as Chinese Equities Continue to Rally The Dollar is Sold through CNY7.0 as Chinese Equities Continue to Rally Reviewed by Marc Chandler on July 09, 2020 Rating: 5
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Fed Moves Back to Center Stage as Transmission Mechanism is Challenged

June 06, 2020
The Federal Reserve moves to center stage next week.  Outside of the US and Chinese inflation measures, it looks to be a relatively light week in terms of high-frequency economic data. Investors are still ruminating over the surprising jobs report (gain of 2.5 mln jobs vs. forecasts for 7.5 mln loss).  Yes, there were classification problems, and …
Fed Moves Back to Center Stage as Transmission Mechanism is Challenged Fed Moves Back to Center Stage as Transmission Mechanism is Challenged Reviewed by Marc Chandler on June 06, 2020 Rating: 5
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Powell's Mao Moment

January 30, 2019
In the iconography of Mao, some see pictures of the Chairman showing both ears as signaling that he was listening to all the people.  In this sense, Powell had his Mao moment.   He listened to the market. 
He has been struggling to find the right message for the market.  The Fed has not changed what it is doing.   It has changed its rhetoric.  
T…
Powell's Mao Moment Powell's Mao Moment Reviewed by Marc Chandler on January 30, 2019 Rating: 5
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Great Graphic: Fed, ECB, and BOJ Balance Sheets

June 21, 2017
This Great Graphic composed on Bloomberg shows the balance sheets of the Federal Reserve, the European Central Bank, and the Bank of Japan as a proportion of GDP.  
The Federal Reserve 's balance sheet (as a fraction of GDP) is depicted in the green line.  The primary reason it has drifted lower in the past few years is that the denominator, th…
Great Graphic: Fed, ECB, and BOJ Balance Sheets Great Graphic: Fed, ECB, and BOJ Balance Sheets Reviewed by Marc Chandler on June 21, 2017 Rating: 5
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Thoughts about the Fed's Balance Sheet

February 22, 2017
Many investors and observers are keen to see what the FOMC minutes say about the Fed's balance sheet.  We suspect that the expectations for fresh insight may be disappointed.  The indications from the Fed's leadership is that discussions are still in preliminary stages.  Most of the comments about the desire to begin reducing the balance s…
Thoughts about the Fed's Balance Sheet Thoughts about the Fed's Balance Sheet Reviewed by Marc Chandler on February 22, 2017 Rating: 5
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