CIO of the cookie cabinet. Not Jon Hamm. Wants to be Lou Mannheim. Probably needs coffee.
Kevin Warsh - Fear The Bond! "If you're not going to tell us how you're going to do it, we're not going to believe you. And you cannot fool the bond. You cannot do it. The bond will see through it." - Mark Cabana, Head of US Rates Strategy, Bank of America, on @bloombergtv.bsky.social .
Treasury started issuing 30y TIPS in early 2000s. Before that you had figure out reals by backing out inflation projections. Here is my attempt at doing that using economists inflation forecasts
A few weeks ago I asked: "2% of what?" This week Warsh answered. PCE now, but maybe not for long. His winding answer raised more questions about his credibility; markets agreed. stayathomemacro.substack.com/p/warsh-were...
Warsh: "We're Sticking With It" ... Until JanuaryThis week, Warsh affirmed PCE inflation as the Fed's target, then put that yardstick on the chopping block.stayathomemacro.substack.com
If you invested $10,000 in Tesla $TSLA exactly 4 years ago, you would have $10,000 today 🚨 🚨 Not too bad 🤑