Like others, I’ve wondered why bond yields have remained so low in recent months. Yes, of course the Fed is in the game big time but what with the taper, the on-going recovery, and forward leaning expectations, I’ve been expecting yields to climb. And so they have, with the yield on the 10 year up almost… Read more
You’ve hopefully heard about, if not read, this revealing analysis by William Lazonick on the sharp rise in public corporations using their profits to boost their share price through stock buybacks as opposed to re-investment. I won’t summarize the findings, as Harold Meyerson amply does so here. As he writes: From the end of World… Read more
Just be sure to always see the Toles cartoon. I stand in awe of his consistent ability to absolutely nail it. Source: Washington Post For a bit more word salad on some of points raised here, you can read this, written shortly after Cantor’s primary loss.
Paulie Walnuts Krugman has a nice piece out this AM on why the central bank should downweight the views of those who’ve been wrongly crying hawk wolf re inflation for years now. I’ve made the same point as the din of voices urging the Fed to pre-emptively tighten is getting louder. One point to add:… Read more
There’s been of late an interesting outpouring of quality research on one of my favorite topics: the relationship between labor market slack and wage growth. I’ve got a longer piece on this coming out later, but the punchline is, as you probably know if you’re drawing a paycheck: considerable slack remains in the job market… Read more