Surprising January monetary news
Global six-month real narrow money momentum is estimated to have rebounded from a sharp December fall to reach a new high in January. Continue reading
Has the Fed’s easing window closed?
The historical Fed would be shifting to a tightening bias in response to recent economic news. Continue reading
US deposit distortion confirmed
The Fed’s Public Affairs office has confirmed that a large rise in demand deposits in late 2025 reflected a reporting change. Continue reading
Monetary tremors
Recent market turbulence could reflect an adverse shift in “excess” money conditions. Continue reading
Fade the manufacturing bounce
An expected PMI pick-up is under way but money trends suggest another relapse from Q2. Continue reading