This is so so well written, very digestible for a laymen like myself trying to learn. Thankyou. I love the analogy: "Amongst a gaggle of black swans waddling through a minefield meadow"
“technically difficult - and often politically unpopular - structural reforms. The can was kicked down the road…Efforts to make the financial system more balanced yet more innovative go hand in hand with reforms on the real side.”
What is carstens getting are here? It seems vague to me. What sort of structural reforms? “More balanced” in what sense?
And in the meantime, while we wait for the government to move their pawn, we get to watch the dxy destroy asset prices. With rates at near breaking point, it seems the world is at a cross roads. Coming to a head very soon.
Good one as always!
Also what is your take on Eurodollar pricing in 4% rates by end of year? Are they way off base?
This is so so well written, very digestible for a laymen like myself trying to learn. Thankyou. I love the analogy: "Amongst a gaggle of black swans waddling through a minefield meadow"
“technically difficult - and often politically unpopular - structural reforms. The can was kicked down the road…Efforts to make the financial system more balanced yet more innovative go hand in hand with reforms on the real side.”
What is carstens getting are here? It seems vague to me. What sort of structural reforms? “More balanced” in what sense?
And in the meantime, while we wait for the government to move their pawn, we get to watch the dxy destroy asset prices. With rates at near breaking point, it seems the world is at a cross roads. Coming to a head very soon.