New Mega Alert

Global yield curves are steepening, which means the spread between the short-end of the curve and the long end of the curve is widening. This is visible in the German bunds where the 10 year just crossed 1% and in the US where the 10 year yield is at a…

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Trade, Confidence & Momentum

The Warning Of Imports/Exports At the beginning of 2015, I noted the divergence between the ISM manufacturing survey and the decline in both imports and exports. To wit: “The surging dollar and weak consumer demand are also being reflected in import and export activity.” The importance of the chart above…

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