ZH: Japan fires its top currency diplomat as yen disintegrates
ZERO HEDGE reports: It is hardly a coincidence that literally minutes after the USDJPY hit 161 ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
ZERO HEDGE reports:
Authored by Simon White, Bloomberg macro strategist,
Follow the money. That’s how to explain the Federal Reserve’s extraordinary dovish swing last week. The government’s soaring interest-rate bill will become an increasing drain on the volume and velocity of reserves in the system, stoking headwinds for assets and the economy. By jettisoning higher for longer, the Fed has enabled interest-rate costs to fall – but only by heightening future inflation risks and the prospect of higher yields.
Mark Wednesday 13th of December down as the day modern-era central-banking independence died in all but name. The rot began several years ago, and spread when inflation jumped to its highest level in decades. But the Fed’s Damascene conversion to dovishness at last week’s meeting was the fatal blow…
The full post can be read here (not that we agree with “future inflation risks”, but surely worth a read).
Comment on this article