Author: Mish

Unnaturally Low and negative yield bond yields are wrecking pension plans.

On August 29, negative-yielding debt topped the $17 trillion mark. Nearly all of that is outside the US.

Lots of interesting Tweets today on a variety of subjects.

The University of Michigan Consumer Sentiment Index took a plunge today. The Conference Board’s measure is at highs.

Tory rebels are preparing emergency legislation to stop a No Deal Brexit. Such threats increase the odds of No Deal.

Personal Income is up 0.1%, spending is up 0.6%. Real Disposable Income is up 0.1%, real spending is up 0.4%.

Incoming IMF chief Christine Lagarde says negative rates have helped Europe more than they’ve hurt. I disagree.

Are ultra-long bonds a good idea? Treasury secretary Mnuchin and his advisors don’t agree.

The Remainers are huffing and puffing this morning, but it will be to no avail. Johnston’s strategy is nearly foolproof.

The second estimate of GDP, released this morning was an as expected 2.0% reading. Consumers carried the load.