see yall at 5800 🫡

10y up to 3.75% this morning. 📈

hedge funds are buying treasurys? spooky. i should talk to my local pension fund, see if they know anything about this

very respectfully disagree

Waller lost some of his market credibility

The Coincident Economic Index "for the US increased by 0.3% m/m in August to a new record high ... The CEI is highly correlated with S&P 500 forward earnings, which rose to a record high in August too." Yardeni Research Eric Wallerstein

i’m with Bowman (or perhaps Bowman is with us)

Exorbitant privilege is no more -- The US FDI income balance (US firms profits abroad net of foreign firms US profits) goes away once the excess profit US firms earn in low tax jurisdictions is stripped out ... Joint work with Michael Weilandt 1/x