Tag Archives for " inflation "

Bond yields are rising, but more importantly normalising

Bond yields are rising, but perhaps more importantly, they are also normalising.  Yields are rising, not because inflation rates are higher, but because of liquidity imbalances between borrowers and lenders. Where inflation fits into this process, is as a catalyst for returning the pricing of capital back to markets by removing the headroom of central […]

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The monster from the ID – inflation

The 1956 movie Forbidden Planet was at its core a tale of hubris; that technology can overcome nature, whether for Krell or human. The analogy for  markets might be the conceit that the business cycle can be expunged without consequence and that one can borrow oneself out of debt.  Like the ‘monster from the Id’ […]

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Fog of war, or just fog?

Talk about fast markets. Blink and you might have missed WW3, as markets broadly return to where they were just 5 days ago. Good news however, may not be so positive for asset prices as waning emergencies mean fewer excuses by hard-up governments to keep printing their way out of deficits. And that means its […]

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Hobson’s Choice – Rising rates or a currency crisis

Just how much red pilling can a market take?  How about the realisation that the economic recovery following the 2008 financial crash as been an illusion based on monetary easing that was conducted in a way to disguise the inflationary consequences, overstate economic growth while forcing investors up the risk curve, where they will be […]

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Gold slumps – forming a ‘Macron bottom’?

So what’s up with the Gold price, which has tumbled by approx -5% in less than 48 hours?  While 10 year US treasury yields are barely changed, a falling gold price on a rising US dollar suggests the Fed may be forced kicking and screaming back onto a monetary tightening tack and this also seems […]

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Lip smacking organic revenue growth from Pepsi is not what is seems

Pepsi’s reported organic revenue growth has been edging ahead all year and for Q3 it was up at +7.4%. For the purveyors of the black teeth rot, this was impressive, particularly since underlying sales volumes were up by only +1% globally. A quick look at the details however provided the answer with ‘organic’ revenues up […]

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