…Calmly observing the changing world

As the trick-or-treaters darted from house to house under a waning crescent, seeking to mount up chocolate treasure, the markets have bided their time – seemingly for ages.  In all likelihood, the market is done treading water and (perhaps after a false start) will again pick its direction. Dial L for Landslide With likely voters overwhelmingly [...]

Today, the Federal Reserve shocked long term interest rates into complying with its policies by announcing that they would start buying long term treasuries. Immediately, the prices of long bonds started soaring, sending the yields crashing down. So why did the Federal Reserve do this? A problem arose in December when the Federal Reserve ran [...]