Jorma

Well the Fed didn't do anything yet. Not above board anyway. BOE stepped in the doo doo the new PM dumped on their doorstep. So after two weeks, the BOE hitting the buy button ends, and then new issuance starts again I wonder how the Gilt market will fare? Does anyone but me remember what a Monetary Weekend is? Not that I have a clue what the next monetary reset could be or if it will have a shelf life longer than an hour.

I'd say we could be in for another cycle like the post 08 cycle except that political forces intend to destroy the governance of what were called Western Democracies. They know not what they do.

I can't help myself. There is do do and then there is doo-doo. So as luck would have it Mr. Osso is in exactly the right place.

August seems so far away now. My first pathetic guess of when the Fed will QE again. I guess I have to go with November now. Too obvious really. I assume the Fed going QE will have at least a 3 day rally after. Who knows? Maybe 3 months? It's sure to be a ripper.

Excellent cliff formations on the 1 minute chart.

Nobody expects Cliff Robertson.

Everyone wants the CB's to print. Except for bond buyers and holders. Do they count? Not really.

What about those Special Drawing Rights. One way or another they are going to have to come up with some money or near money to calm things down. Don't forget the war, as low level as it seems to be. The CB's have to support governments during wartime. Just saying as a general thing.

When in doubt buy a little of everything is the message I guess.

I have no idea how the Pound/Gilt crack up will resonate through the London financial scene or what shape the big banks there are in. Well it's just stories. Can the Fed save the BOE? Got me. The BOE is like the Feds Grandfather and will do whatever it takes to save it. MAGA's don't care about any Special Relationship however. The will be putting up the wall at our shores and England will be set adrift.

I'm not only because simple pattern recognition. 6 down days in a row the S&P is very rare. Americans get sick of selling stocks, no matter how justified.

Fascism returns to Italy on the 100th Anniversary of its arrival. News wise It doesn't get any worse than that.

Flash crash in the GBP last night?

https://fred.stlouisfed.org/series/RRPONTSYD/ I'd been looking to see if the jump this week was going to stick. It did. That's a lot of money. Somebody or a lot of somebody's trust the Fed more than the markets I'm guessing. As in confidence in performing a trade? Wow, it's been 35 years since Prector got famous with his Grand Super Cycle. What has driven this cycle? Energy. At least consider that the economy is an energy system, not a money system. I'm in the the some of both schools. energy+money=economy, but one would be remiss I think if you don't consider this. https://surplusenergyeconomics.wordpress.com/2020/06/19/175-the-surplus-energy-economy/ In this telling then, of cycles and the economy, this one started around 1750 with the steam engine. If we had limitless cheap energy we would have limitless wealth. We don't. We won't.

In the no true Scottsman vein. No true bear want's a fucking yacht.