Category Archives: Credit markets

Tariffs, the Dollar, and Equities: High-Frequency Evidence from the Liberation Day Announcement

Sales of US equities by foreign owners played a meaningful role in the falll of the dollar after the Trump tariff rampage began.

International Trade Suppression and the Demand for US Treasuries

On how lower foreign government appetite for Treasuries might affect the status of the dollar as reserve currency.

Trump’s Additional 50% Tariff Against China and China’s Tit for Tat Retaliation: Trump Own-Goals Himself Into Where China Would Want Him

Some further thoughts on the radical US-destructiveness of the Trump tariff regime.

Longer-Dated Treasuries Sell Off Sharply, Increasing Interest Rates: The Exact Opposite of What Trump Says He Wants

Mr. Market, in the form of longer-dated Treasury yields, is not on board with the Trump tariff scheme.

Blockbuster Deal Will Wipe Out $30 Billion in Medical Debt. Even Backers Say It’s Not Enough.

A program that purchased medical debt at a deep discount, while effective, still reinforces a predatory system.

Private Equity Shares Tank Based on Trump Tariffs; Private Equity and Credit Crises Coming?

How the Trump tariffs will whack private equity, and even more so, investors like CalPERS and other public pension funds.

Payday Loan Apps Cost New Yorkers $500 Million Plus, New Study Estimates

A new study estimates the cost of payday loans in New York as the state debates tightening rules on these fintechs beyond existing usury laws

As US Markets Look a Bit Wobbly, the Press Looks for the Next Crisis in the Rear View Mirror

The Wall Street Journal worried about the giddy mood at the annual structured industry conference. But is where to look for the next crisis?

The GENIUS Act: Setting the Stage for a Federal Bailout When Stablecoins Become Insolvent

Why the GENIUS Act does not live up to its pretenses of making stablecoins safe, thus setting the stage for a Federal bailout.

DOGE Taketh Away From the Many as Trump Pays Off Crypto Bros With New “Strategic” Fund, Above All, Crypto Czar David Sacks

We warned that crypto was closely aligned with criminal activity. The open grift of the new “strategic” Trump fund proves that case.

Jane D’Arista on How the Failure of Global Finance Is Systemic

Jane D’Arista describes the internationalization of finance and how is has produced not just crises but fundamental economic distortions

How Climate Denial is Fueling a U.S. Homeowners Insurance Crisis and Risking a 2008-Style Financial Meltdown

A climate-change-driven insurance and eventual mortgage/housing price crisis is getting momentum. And unlike 2008, price recovery is unlikely

Mr. Treasury Market Tells Fed It Is Even More Worried About Inflation

The Fed vigorously backpedaled on further cuts, pivoting to wait-and-see, due to long-term rates signaling inflation concerns.

The Execution of the CFPB: Capitalism Survives Another Attempt to Save It

A discussion of Elizabeth Warren’s naivete about the predatory nature of capitalism.

Wanting More for BRICS Than BRICS Wants for Itself

More realistic takes on BRICS, including by Michael Hudson.