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18 October 2021

AFS Morning Comment October 18 2021

Markets moving on central banks tightening policy sooner than later to stamp out inflation remains all the rage these days. With long end bond yields still mostly range-bound, the more explosive moves we see in…

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AFS

14 October 2021

AFS Morning Comment October 14 2021

A great gimmick in the popular fantasy novel series Game of Thrones[1] is that seasons can last years instead of months. We want to use that analogy to compare the most recent business cycle expansions…

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11 October 2021

AFS Morning Comment October 11 2021

The Eurozone rates market certainly has been going against our early September call that a year from now, money market conditions will remain easy enough for 1-month and 3-month Euribor to settle around current levels….

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8 October 2021

AFS Morning Comment October 8 2021

Our takeaway from today’s labor market report – that is assuming the numbers print in line with consensus – is that the Fed’s monetary largesse is no longer justified. We knew that some time ago….

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AFS

4 October 2021

AFS Morning Comment October 4 2021

Looking ahead, today was supposed to be a day of détente in the US-China trade relations. Last week rumor did the rounds that the US Trade Representative Katherine Tai would cut a third of the…

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1 October 2021

AFS Morning Comment October 1 2021

A casual glance at FinTwit (‘finance Twitter’) and run-of-the-mill quotes in Reuters/Bloomberg wire articles show that the inflation spike is certainly aggravating lots of folks in markets. But what about our central bank overlords in…

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