Q&A #220
@cmac855: Can the September effect on bond rates have something to do with the fact that during September most commerce’s buy their Christmas inventory and that creates pressure on dollar liquidity world wide? @cmac855: To the point that old treasuries have to be sold in order to obtain liquidity to fund the international transactions? @Albertletoride-hz7oj: how did the creation of the € currency impact the eurodollar system and the european financial system ? Why did the french technocrats push so hard for it, while the Bundesbank seemed more reserved ? @gratefuldad327: What’s the strongest argument against Brent Johnson’s view that dollar shortage will force foreigner long end UST selling? Maybe Sept wasn’t only dealer/bank plumbing but also “milkshake”-related @dubiousdandy904: Energy shock taxes incomes/margins, perhaps leading to purchasing substitutes. Could substitution create artificial breadth in economic aggregates? So, not just artificial highs but artificial "width". @stevespiller4857: Jeff - Do you have any thoughts how our current shocks are showing up in the municipal bond markets - particularly California as Sacramento continues to spend and spend? @dubiousdandy904: Rant: In geopolitics, mainstream commentary claim China reduced its oil imports by "reducing its demand". Shaking my head, I ask rhetorically "What the hell does that even mean?". Demand isn't a dial. @gratefuldad327: Rough odds that the Fed will lower interest interest rate within the next 18 months?
