No Relief for Bond Vigilantes

(1) Dr. Ed’s latest podcast. (2) New book about the Fed and the GVC. (3) Do over 250 million Americans need “relief” checks? (4) Thousands adding up to billions. (5) Big boost for housing-related retail sales including TVs and microwave ovens. (6) M2 up $4 trillion y/y. (7) March is on fire, according to Philly Fed survey. (8) Prices-paid indexes soaring in Philly and NY districts. (9) Copper/gold ratio and Philly prices-paid correlations with bond yield remain bearish. (10) The pre-pandemic old normal for bond yields was 2.00%-3.00%. (11) Movie review: “Land” (+).