Dollar getting hammered, gold flying on RBA move, oil chatter
What a morning for the U.S. dollar … a bad one, that is. It’s getting hammered against all the major currencies, with the Australian dollar leading the way, thanks to a semi-surprise rate hike by the...
View ArticleUnbelievably dovish FOMC minutes
You have to love it: The just released Fed minutes from the September 22-23 meeting are looking unbelievably dovish. Some Fed members were reportedly even open to INCREASING the size of MBS purchases....
View ArticleBernanke speaks, ignores dollar and signals no policy shift
Okay, so that’s not the headline you’re going to read on the wires. But really, his speech at the Conference on Asia and the Global Financial Crisis in Santa Barbara, California is very academic. It’s...
View ArticleThe Bernanke-nator
Just a thought, but maybe we should call our Federal Reserve Chairman the “Bernanke-nator.” As Kyle Reese said in the original Terminator movie … “Listen, and understand. That terminator is out there....
View ArticleFed keeps “extended period” language, slightly cuts agency debt plan
The Federal Open Market Committee just released its latest interest rate decision and statement. Rates were left unchanged, as expected, at a range of 0% to 0.25%. The Fed also held onto its language...
View ArticleMore dollar drama — and the core reason for the carry trade
There’s a lot of chatter on the dollar front today. Treasury Secretary Tim Geithner told a group of Japanese reporters that he “believe[s] deeply that it’s very important for the U.S. and the economic...
View ArticleThe surprise of the day: Bernanke actually acknowledges the dollar decline
The text from Fed Chairman Ben Bernanke’s speech in New York was just released. For a change, he actually mentioned the dollar and suggested that its movements could factor into policy decisions. That...
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THAT’s all the bang Bernanke got for his … er … buck?
Holy cow! That didn’t last long. Look at this intraday chart of the Dollar Index. If that’s all the bang Bernanke can get for his … er … buck, the dollar is sicker than even I thought (and that’s...
View ArticleJob market weak in December, easy money to keep on coming
The December jobs report was disappointing, with the economy shedding 85,000 jobs against expectations for an unchanged reading. November’s reading was revised to +4,000 from -11,000. But the...
View ArticleCurve, inflation plays flying
Earlier this morning, I published a piece predicting that the Fed under “Helicopter” Ben Bernanke won’t tighten rates until the cows come home.Today’s jobs report only underscores my certainty in this...
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