The 10 Most Interesting Things We’ve Read Recently (FFTT, 9/29/23)
September 29, 2023
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Remember – the pain trade is higher yields. -Former NY Fed trader Joseph Wang, via X (Twitter), 9/21/23 There appear to be no brakes on this train. -FFTT, 9/22/23 It is an incredible set-up – despite all of the above, consensus remains bullish on long-term USTs. We remain bearish on TLT and believe the set-up above could soon drive a feedback loop that drives a long-term UST yield spike. Imagine TLT dropping 10-20 points in
Behind-the-paywall link to FFTT conversation with Larry McDonald on RealVision (Page 23)
Perhaps we should think in this way: in “cold war” of modern exchange rates, “digital currencies from reserves are used”; however, when “hot war” of major default does begin, “nuclear weapons of GOLD” are deployed! – Anonymous monetary theorist “Another”, 5/21/98 China increases its gold reserves in order to “kill two birds with one stone.” According to China’s National Foreign Exchanges Administration…The US & Europe have always suppressed the rising price of gold. They intend
Fed officials are turning more cautious about raising rates too high now that inflation is finally showing signs of the rapid declines that they’d long anticipated. A rate pause in September will give the Fed more time to see if recent progress continues. – WSJ Fed reporter Nick Timiraos, 9/10/23 Bank of Japan Could End Negative Interest Rate Policy; Ueda Tells Yomiuri Shimbun He’s Watching Wages, Prices – Reuters, 9/8/23 Top Biden spokesman John Kirby