Authored by Mark Burgess via Columbia Theadneedle Investments blog,
Quantitative easing has served as a life raft for many of the world’s economies. Now central banks face the prospect of moving on, but the question is: how?
And the hits keep coming for the unicornest unicorn in all of unicorn-land...
First, for those hoping for a 'return of the king' moment, Recode reports that Travis Kalanick is not coming back as CEO of Uber. That's according to board member Garrett Camp, who sent an email to employees yesterday, addressing recent reports that Kalanick was “Steve Jobs-ing it” and attempting a comeback; the Uber board is said to have narrowed down its search for a replacement to four people.
Launching this week's Treasury issuance of 3, 10 and 30Y paper, this afternoon's 3-year note auction results was "stellar", as Stone McCarthy put it.
The auction stopped 0.9 bps through the 1.529% When Issued, printing at 1.520% - the third consecutive "stopping through" auction in a row - with the highest bid/cover in more than a year and a half, as 3.13 bids tendered for every dollar, the highest since December 2015, far above the 2.80 6 month average. There were $75.1BN bids for $24BN in notes sold (ex-SOMA).
Authored by Jeffrey Snyder via Alhambra Investment Partners,
The mainstream media is about to be presented with another (small) gift. In its quest to discredit populism, the condition of inflation has become paramount for largely the right reasons (accidents do happen). In the context of the macro economy of 2017, inflation isn’t really about consumer prices except as a broad gauge of hidden monetary conditions.
Silver Mining Production Plummets 27% At Top Four Silver Miners
by SRSRocco Report
In an interesting change of events, production at four of the top primary silver miners plummeted during the second quarter of 2017.