The Dollar: Every Man For Himself

The Federal Reserve’s (Fed’s) strategy of firing up its printing press may have the debasement of the U.S. dollar as its goal (see Fed Targets Weaker Dollar), but it’s important to note that the Fed does not act in a […]

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Japanese Yen: A Red Dawn?

For many, the strength of the Japanese yen is a conundrum. How can the currency of a country with such a weak economy, such a high level of

Bond, Junk Bond: A Casino Royale?

The Federal Reserve’s (Fed) extraordinarily low interest rate policies have encouraged fixed income investors to take on evermore exposure to credit risks. The Federal Reserve’s (Fed) extraordinarily low

Fed’s Bizarre Tactics Target Weaker Dollar

Is the Federal Reserve (Fed) experiencing a midlife crisis? Ever since Fed Chairman Bernanke gave a speech in Jackson Hole, Fed behavior can be summarized as, well, bizarre.

Merk Commentary: ECB Triumphant over Fed

While central banks in the U.S., Japan, U.K., Switzerland and Brazil, amongst others, may be looking for excuses to print more money, the European Central Bank (ECB) is

Currency Wars: The Phantom Menace

The last thing the global economy needs right now is anything that would hamper or derail economic growth. Unfortunately, there appears a growing specter of this occurring. Brazil

Commentary: Fed Crossing the Line?

New York Federal Reserve Bank (Fed) president Bill Dudley’s speech Friday attracted much press attention, as it should have. His speech is correctly read, as in the press

Ben in Luck

Ben had served his master for seven years, so he said to him, master, my time is up, now I should be glad to go back home to

Searching for Yield: At Any Cost?

In an environment with historically low interest rates, fixed income investors have been pouring money into longer-duration securities, substituting 3 and 6 month T-Bills with 10-year Treasures or

U.S. Dollar Threatened by Fannie & Freddie

Social subsidies may make good politics, but all too often bad economics. When Fannie Mae was created in 1938, the seeds were planted for the biggest housing bust