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the  forest  for  the  trees

Weekly Video Series

Two things that caught my attention this week 11/11/18

   

Two things that caught my attention this week, 11/11/18:

  • 2 of 3 UST auctions last week were either the lowest or 2nd lowest bid-to-cover since depths of Great Financial Crisis. This is a sign of USD liquidity stress that if it persists will likely begin setting off alarm bells at the Fed soon.
  • For centuries, the global currency system was based on “good for goods” trade; for the last 47 years, it’s been based on “goods for IOU’s” trade – the US wants to keep both systems but must choose one or the other.

 

Are you joining us on Tuesday 11/13/18? Registration is OPEN for the “FFTT 2018 Wrap Up”, a 2 hour virtual event.  Seats are limited. $97 per person.  Visit

https://bit.ly/2RfrjWb to register and reserve your seat.  We will hold a presentation with a slide deck and will take as much Q&A as time will allow! See you there!

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Two things that caught my attention this week 11/4/18

       

Two things that caught my attention this week, 11/4/18:

  • Thoughts on the Steve Bannon interview with Kyle Bass on Real Vision.
  • Another big issuance week for UST’s.

As discussed in this video, Registration is OPEN for the “FFTT 2018 Wrap up”, a 2 hour virtual event.  Seats are limited. $97 per person. 

Visit https://bit.ly/2RfrjWb to register and reserve your seat.  We will hold a presentation with a slide deck and will take as much Q&A as time will allow! See you there!

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Two things that caught my attention this week 10/28/18

Two things that caught my attention this week, 10/28/18:

        * US economic data broadly weakening, especially leading indicator housing data, as consensus remains 4 more rate hikes by the end of 2019 along with continued USD strength. 

        * Dallas Fed Chair Kaplan made comments Friday about IOER which caught our attention as CS’ Zoltan Poszar put out a report in August arguing that US deficit crowding out of US money markets manifested in IOER/Fed Funds movements would force the Fed to stop QE Taper by year-end 2018. 

As discussed in this video, Registration is OPEN for the “FFTT 2018 Wrap up”, a 2 hour virtual event.  Seats are limited. $97 per person. 

Visit https://bit.ly/2RfrjWb to register and reserve your seat.  We will hold a presentation with a slide deck and will take as much Q&A as time will allow! See you there!

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Two things that caught my attention this week 10/21/18

Two things that caught my attention this week, 10/21/18 from Luke Gromen on Vimeo.

  • Rules Based Global Order appears to be breaking down, this has far-ranging implications for FX, rates, & risk markets.
  • Housing is beginning to soften notably – makes me wonder if GS’ “5 more rate hikes by 2019” call is this cycle’s version of “$200 oil” call from 2008

 FFTT,LLC will be offering a two hour virtual event with in November.  Check out this link for more information: 

https://www.crowdcast.io/e/fftts-2018-wrap-up-and?rfsn=1587048.d57543

- we are limiting this event to 100 people since I want to be able to answer as many questions live after my presentation as possible.

 

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Contact Information

Luke Gromen, CFA
Forest for the Trees

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