David Stockman On Janet Yellen's Return & The Financial Storm Ahead…
Authored by David Stockman via InternationalMan.com, Janet Yellen is back. Naturally, the follies of Keynesian central banking come to mind. In many ways, Yellen’s tenure as Fed chairman was far worse than Ben Bernanke’s. At least Bernanke’s money-printing madness was undergirded by his credentials as a misguided scholar of the Great Depression and the mistaken…
On Yellen's "Arranged Marriage" To The Fed
On Yellen’s “Arranged Marriage” To The Fed Tyler Durden Sat, 12/19/2020 – 14:30 …by the end of her term as Treasury Secretary, the economy, and the markets, will be littered with corpses of more “monetary policy errors”…
Ugly, Tailing 20Y Auction Spooked By Yellen's 50Y Comments
In a far cry from last week’s stellar long-duration auctions, moments ago the Treasury sold $24 billion in 20Y bonds (via a reopening of the 19-year-10-month Cusip ST6), in what was a decidedly subpar sale. The auction stopped at a high yield of 1.657%, well above the 1.470% in December and a 1.4bps tail to…