The Banks Of Last Resort

Check out the accompanying pdf and chart collection. (1) A trillion here, a trillion there adds up to $21.8 trillion. (2) Whatever it takes to “infinity and beyond.” (3) The Fed is playing by the MMT playbook. (4) Is the Fed trying to peg the bond yield below 1.00%? (5) Record-low interest rates fueling housing boom and record corporate bond issuance. (6) A pile of liquidity waiting for vaccine. (7) ECB and BOJ pumping liquidity as fast as the Fed. (8) A synergistic approach to technical and fundamental analysis. (9) Commodity prices continue to recover. (10) The copper/gold ratio is bearish for bonds, increasing odds that Fed will peg yield below 1.00%. (11) Not much more downside for the dollar. (12) Still favoring Stay Home over Go Global.