Month: May 2019

The Fed Has Seemingly Lost Control of Its 10-Year Treasury Note

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via confoundedinterest: The Federal Reserve has seemingly lost control of its 10-year Treasury Note. Rather than follow The Fed’s quantitative easing/ tightening, the 10-year Treasury Note yield is following trade patterns. And speaking of losing control, a Japanese lender is planning to issue a 0.99% JUNK BOND. (Bloomberg) — Japan’s negative interest rates have upended many conventions … Read more

Risk-Markets Take a Beating in May

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via jugglingdynamite: Risk assets have taken a fresh thumping in May.  As of last night, the S&P 500 index was down 5.5% on the month, with energy (-9.2%), technology (-8%), materials (-7.4%), industrials (-7.1%) and financials (-5.6%) faring worst, and so-called ‘defensives’: real estate (-.05%), utilities (-1.6%), health sick care (-2.3%) and consumer staples (-2.9%) faring less bad, as … Read more

Mises: Digital Cash, Another Dangerous New Idea in Monetary Policy

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via mises: While modern monetary theory has provided some distraction for public and commentators alike, the war on cash goes on. In the latest issue of the Cato Journal, the distinguished economic historian Michael Bordo and his co-author Andrew Levin lament the failure of the experiments in unconventional monetary policies of the last decade to stimulate aggregate demand. While … Read more

Sears Buyer Wants to Skip $43 Million Severance for Workers — When Eddie Lampert committed to buy out Sears from bankruptcy, he agreed to pay displaced workers up to $43 million. Now, he’s changing his mind.

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Sears filed for bankruptcy last year. A few years ago Eddie Lampert, a Wall Street investor, tycoon billionaire bought Sears up out of bankruptcy, and agreed at the time to pay the workers of that corporation the $43 million they were owed in severance after it inevitably shuttered its doors. Now Lampert is asking a … Read more