February 7, 2018

SHI 2.7.18: Bonds, Bunds and Gilts

At the end of January, the FED, European Central Bank (ECB) and the Japan Central Bank (JCB) — combined — owned $14.3 trillion of assets.  A […]
January 31, 2018

SHI 1.31.18: Pirates in China

When the debt in question is the result of selling a “perpetual bond.”   What is a perpetual bond, or “perp,” you ask?   It is a […]
January 24, 2018

SHI 1.24.18: The Rate of Return on Everything

The paper spans almost 150 years and details investment returns in 16 advanced economies.  Including addenda, the paper is 123 pages in length. But I have […]
January 17, 2018

SHI 1/17/18: Where is Inflation?

Central bankers continue to be puzzled by inflation.  Or, more precisely, by the lack thereof. With a global economy fully aligned and growing in sync for […]