Auf Wiedersehen – pet (Brexit)

Amongst all the carnage of Brexit, something to lighten the mood. Rowan Atkinson singing the European Anthem.

Like the real thing, it starts off well (once in the right key), but then descends into chaos.

Treasury yields after debt ceiling ‘can-kicking’

1 month T-Bill yield spreads expand by >160 bps in April – Signs of growing stress!

MMT – Safe and Effective?

March Jobs data – further softening, but not there yet!

SVB bailout – failing the smell test!

SVB failure – Moral Hazzard? Yellen Says No Bail Out

A very odd recession!

Will the Fed repeat the mistakes of the 1970’s by easing too early?