Recent Posts - page 2
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Wasting Away Again in Squeezeville
An extraordinary week. How extraordinary, you ask? Bloomberg: “Best Run for Bonds Since 2020 as Traders Bet on Fed-Hike Finale.” Ten-year Treasury yields sank 26 bps this week, the biggest weekly drop since March (-27bps). Thirty-year Treasury yields fell 25… Read More ›
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TSP Smart: Beware of Stability
Excerpts The old Hyman Minsky “stability can be destabilizing” comes to mind. There is evidence that speculative leverage today surpasses even March 2020 levels. I would argue there is more speculative leverage, “Crowded Trades,” and potentially crash-inducing derivative exposures. Potential… Read More ›
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TSP Smart: Inflection Point in World History
Xi should have carefully studied Karl Marx’s theses on Credit (i.e., “Credit and Fictitious Capital”). Fixated on achieving global superpower status, Xi Jinping accommodated history’s greatest Bubble. There will be momentous fallout, for China and the world. At the Bubble’s… Read More ›