Maria Magallon
6.4K posts
@MariaMagallon
Random walks on economics & classical music...
Shiller PE is now less than 5% away from surpassing the level reached during the Dot Com Bubble which would give the stock market its most expensive valuation in history 🚨🚨🚨
This economic weapon is worth Congress’s attention. Currency swap lines are useful foreign-policy tools, but current law limits their availability, writes @ElaineDezenski on.wsj.com/4tB5oKO
Bonds have remained eerily quiet and continue to sit near the apex of a long triangle. With Kevin Warsh now about to take the helm of the Fed, we are about to enter what we might call the Warsh-Bessent Treasury-Fed Accord part 2.0. That suggests lower short rates (rationalized by arguing that R* is much lower than we all think), a steeper yield curve, and a soon-to-be deregulated banking sector that is supposed to “privatize” the Fed’s balance sheet.
