Found articles
Over leveraged borrowers and corporates already showing signs of distress Treasuries Blow Out: We don’t agree

Yields on long dated Treasuries have climbed over the last few sessions. The markets are nervous all...

Everyone is so fixated on yield,  they have forgotten about the preservation of capital and the reward required to compensate for such risk Debt is like NYC Tap Water: Cheap and Plentiful

Nothing in New York is cheap, probably with the exception of tap water. Debt – and more specificall...

What’s interesting is that long term investors have a single strategy – stimulus. Stimulus isn't a Long Term Strategy: More like a Bet with a British Bookie

There’s an old adage: Markets hate uncertainty. But it seems that the current stimulus uncertainty...

Many investors have short attention spans and quickly pivot to the ‘new shinny’ thing the Fed is showing them. Talking About Inflation and Creating Inflation, Are Very Different Beasts

After decades of trying to create inflation, we have had lackluster results (and most of these years...

The question is – will it work this time? The (almost) $10 Trillion Question ?

The Fed knows that the economy is so over-leveraged, unproductive and bloated with trillions of doll...

The Black Swan that breaks the camel's back The Black Swan that Breaks the Camel’s Back

We at MacroTOMI believe that the enormity of the current situation is so gigantic, that the current...

Speak volumes of a very distorted market Why the Treasury Auction Wasn’t So Ugly

The spike in yields wasn’t because of better than expected jobs numbers or a jump in CPI or a jump i...

Vikings did was challenging the ancient Gods, and traveling across oceans without really good navigational equipment. Against the Gods: The Remarkable Story of Risk

Would you go skydiving if your parachute had a 50% chance of opening; most people would say no. T...

Monetary velocity peaked in the early 1980s and has been on a decline every since. No Inflation, No Stagflation, Yields and Bonds

Even with the explosion of the monetary base in 2008 with the great recession and the stimulus provi...

This article is on bond mechanics. The Mechanics of Bonds

Originally all bonds were bearer, payable to whoever held them, like the notes in your wallet. Beare...

"Buy bonds and grow rich slowly but surely" Why we think Treasury Bonds are still a Good Buy

“You mean all I have to do is listen and I will become rich”. “Yes”, he replied, but most of you wil...

The Federal Reserve may need to go to negative rates to accommodate the economy via the commercial banks The Unusual Situation of Negative Rates May Be Not So Unusual Soon

Commercial banks would have an incentive during severe recessions and depressions to make negative i...

Markets are in a flight of suspended fancifulness The Markets are in a Suspended Animation Perpetuating a Denial of Reality

Question is, why are we still here? Why is the market still exuberant? The market is waiting for mor...