TSP Charts: Quicklook

TSP Charts

The Total US Stock Market has rallied to the top of its price channel and into overbought conditions.  During this rally, the market has worked off previous overbought readings through mild corrections […]

Doug Noland: Arms Race in Bubbles

Bubbles are always about a redistribution and destruction of wealth. Its unparalleled global scope makes the current Bubble is so concerning… I believe the global government finance Bubble – history’s greatest financial […]

Doug Noland: Arms Race

Bloomberg: “Treasuries Surge as December Hike Odds Drop After CPI Miss.” Year-over-year CPI was up 2.2% in September, with consumer inflation above 2% y-o-y for six of the past 10 months. The […]

Doug Noland: The Financial Accounts of the United States

I would add that bull markets create their own liquidity. And so long as “risk on” is fueled by self-reinforcing speculative leveraging, the marketplace would easily accommodate small portfolio sales from the Federal Reserve. It’s an altogether different story, however, when “Risk Off” materializes. De-risking/de-leveraging dynamics would rather abruptly emerge from hiding. That’s when the markets will sorely miss – and beckon for more – QE.