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Jun 07 2022

From Tighter Lending To Margin Pressure

  • Jun 7, 2022

Intuitively, what happens in the credit market is usually echoed by lending activities. This was a key concern when the credit market joined the stock-market rout in May. Another big leg up in real interest costs, through higher rates and/or lower growth, will surely create more headwinds for profit margins.

Jan 08 2014

A Taper & Hibernating Bears

  • Jan 8, 2014

The rise in interest rates after the taper was on the back of low liquidity around the holidays. 3% is a pretty strong upper bound for the 10-year, and a failure to stay above this level will probably see a re- test of the 275 level in the near term. 

Dec 06 2013

The Dual Mandate Presents A Clear Dilemma For The Fed

  • Dec 6, 2013

The “dual mandate,” which means the Fed is paying close attention to both inflation and employment, presents a clear dilemma for the Fed when it comes time to decide on a taper.

Aug 05 2009

Rising Bank Lending In China: Good or Bad?

  • Aug 5, 2009

While U.S. banks are still seeing loan levels declining, China has seen a 24% increase in bank loans since the end of 2008. Assuming these loans are actually employed to build infrastructure, it would seem the recovery may be getting underway.