Author Archives
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Doug Noland: Deleveraging Watch
De-risking/deleveraging and a problematic tightening of financial conditions appear likely if not imminent. Objectively, however, general financial conditions remain extraordinarily loose.
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Doug Noland: Kevin Warsh and Regime Change
Deleveraging risk is elevated. Crypto deleveraging intensified this week, increasing contagion and liquidity risks across markets. The big tech stocks appear at heightened deleveraging risk.
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Issues 2026
Some will argue the President’s threats on Greenland, Denmark and our European allies were “no harm, no foul.” Just Trumpian “art of the deal” antics. Globally, most see a most flagrant foul not soon forgotten. I can’t help but draw a connection between the administration’s tactics, a breakdown in the global order, incipient crisis of confidence dynamics, and an impetus for sophisticated players to commence de-risking/deleveraging.