Even Kings Fall

  To market to market to buy a fat pig. The downgrade that many people have been calling is scheduled for next week Friday, after our market closes. Having a look at our current bond yields and the currency, I'm not so sure that a downgrade is a foregone conclusion. There is no doubt that … Continue reading Even Kings Fall

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Quantifying Quantitative Easing

  To market to market to buy a fat pig. Today is Fed day. Later this evening the Fed will probably announce no interest rate increase, but more importantly, they will give details around how they will unwind their $4.5 trillion balance sheet. Rewind a couple of years, the short-term interest rate was already very … Continue reading Quantifying Quantitative Easing