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Testing Times Loom for US Treasury Market Functionality with Potential Global Consequences
US Treasuries face market functionality issues. Leveraged hedge funds filled the void of primary dealers in trading with counterparties. Sudden...
DeSaque Macro Research
128 Views
BoJ Risks Major Credibility Test, While Fed and ECB Send Different Signals About Peak Rates
The BoJ's credibility will be tested in 2024 while exiting NIRP and YCC due to political pressure Meanwhile, both the ECB and Fed are at or close...
DeSaque Macro Research
286 Views
No Signs of Major Dollar Deleveraging, but Fed Policy Conduct and Inflation Backdrop Warrant Caution
Higher US interest rates have yet to cause major dollar deleveraging. Fed policy conduct and inflation outcomes will determine if gradual dollar...
DeSaque Macro Research
254 Views
Data Dependent Financial Markets Risk Losing Sight of Bigger Issues
Central bank policy conduct and financial markets are slaves to data dependency, adversely impacting capital allocation. Economic outlooks vary by...
DeSaque Macro Research
256 Views
Fed Policy Outlook: Could Housing's Resilience Force a Higher Inflation Target?
US housing activity has been resilient due to supply and demand forces. Further home price appreciation could impact Fed policy, potentially...
DeSaque Macro Research
286 Views