Category: Doug Noland

Doug Noland: The Great Fallacy

The pressing issue for global markets goes far beyond widening interest-rate differentials. Markets anticipate a future with the Draghi ECB eager to expand QE and, across the pond, the Powell Fed reluctant […]

Doug Noland: Crisis Watch

It’s worth recalling that the 2016 de-risking/de-leveraging episode was nipped in the bud by an upsurge in global QE (especially courtesy the ECB and BOJ) and a corresponding extension of easy money […]

Doug Noland: Disequilibrium

In a world of too much “money” and Crowded Trades prevailing throughout the risk markets, it regresses into a dysfunctional game of disregarding risk and chasing performance. Buy and hold an equities […]

Doug Noland: Old Roach Motel

One hundred and six months. The current expansion, having emerged in the aftermath of the collapse of the mortgage finance Bubble, is now the second-longest on record (lagging only the 120-month 1990’s […]

Doug Noland: Market Realities

Markets have grown well-versed at disregarding structural issues. I’m still amazed at what the marketplace was willing to ignore throughout the mortgage finance Bubble period: A doubling of mortgage Credit in just […]