Tag Archives: newsletter

Overview: We suspect the market overreacted to the US jobs data, which was tainted by the lowest "establishment" response in over two decades and seasonal adjustments were likely thrown off by Hurricane Helene and the 33k strike at Boeing. We think Fed officials, and more speak today, have confirmed that it was not the game changer than many market participants think, which was likely influenced by positioning. It did help facilitate the dollar's upside correction...

Numerous reader requests following our article, Agency REITs For A Bull Steepener, prompted us to write this follow-up with more detail about how to analyze agency REITs. This article doesn’t recommend specific agency REITs, but it does lay out some of the fundamental basics of the largest publicly traded agency REITs. In doing so, this analysis and the prior article provide a solid foundation for further evaluating agency REITs. Before diving in, it’s worth...

21.co, the parent company of 21Shares – one of the world’s largest issuers of crypto exchange traded products (ETPs), and Crypto.com announced that they have entered into a strategic partnership. Central to the partnership, 21.co Wrapped Bitcoin (21BTC) will source Bitcoin liquidity from Crypto.com, leveraging the exchange’s liquidity. Looking ahead, 21.co and Crypto.com intend to build on the strategic partnership, with future announcements in the pipeline. Eliezer...

Poor performance of the unit contributed to the decision, people familiar with the matter said, asking not to be identified discussing internal information. Keystone / Martial Trezzini Listen to the article Listening the...

As I write this, another catastrophic hurricane barrels towards Florida, and I can only imagine not only the natural damage left in its wake, but the hopelessness many will feel when they realize the very agencies tasked to respond are not much more than political appointments, and far too inept to grasp the gravity of the task at hand. In the aftermath of a catastrophic event, the Federal Emergency Management Agency (FEMA) is tasked with coordinating relief efforts....

USD/CHF gains ground to near 0.8575 in Wednesday’s early European session.  Reduced bets of a jumbo Fed rate cut in November support the USD ahead of the FOMC Minutes.  The escalating Middle East geopolitical tensions might cap the pair’s upside.  The USD/CHF pair trades on a stronger note to around 0.8575 during the early European session on Wednesday. The firmer US Dollar (USD) amid diminishing odds for more aggressive rate cuts by the...

Two weeks ago, Hurricane Helene slammed into the Deep South and parts of Appalachia, bringing devastating floods to a region often spared from strong hurricanes. A variety of factors combined to make Helene an especially dangerous storm. First, it formed over the Gulf of Mexico, where waters tend to be warmer than the Atlantic. Second, the globe is currently experiencing a transition to La Niña conditions where unusually cold ocean temperatures in the Pacific bring...

Smoking causes around 9,500 deaths in Switzerland every year and 8 million worldwide. Keystone / Anthony Anex Listen to the article Listening the article Toggle language...

Most readers of my weekly column already favor a libertarian society, with either a strictly limited government or no government at all. They realize what a disaster the state has been. What are the philosophical foundations of this outlook? There are many possible answers, but in this column, I’m going to discuss three of the most important of these, the way Ludwig von Mises, Murray Rothbard, and Hans-Hermann Hoppe address this issue. I’m not going to take a stand...

A definition of “projection” is when one baselessly accuses others of doing something unsavory, immoral, or illegal that he is actually doing. For example, a thief who, without proof, accuses others of being thieves. This is what socialists do when they call their intellectual and political opponents “fascists” or compare them to Hitler. Fascism is socialism, as Lew Rockwell recently reminded us in an essay entitled “National Socialism Was Socialist.” Socialists...