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Hormuz 'mine free & open' ?/ Fed vs Treasury, not the 1st fight over rates, 1951 Fed won / 2y JGB 31y highs / Jackson Hole !!

  • sc0172
  • 11 minutes ago
  • 3 min read

  • Jackson Hole : Federal Reserve Chairman Kevin Warsh will address an audience of international economists and central bankers on Friday, with investors globally watching for him to offer more details about the economy, recent ​volatility in bond markets, and the risks facing the U.S. and global outlooks >>> the stakes went up recently, disinflation pledge (no roadmap), inflation is 3.7% nearly double the target... , 10's UST basically at 4.7% still, a growing minority of Fed officials say policy is no longer tight enough to squeeze out the last point of inflation.. >>> This Isn’t the First Fight Between Treasury and Fed Over Interest Rates, The two agencies had a similar fight after World War II that helped win independence for the Federal Reserve

  • Markets : France is starting to be perceived as a greater bond risk than Italy - FT, | Iran has linked the reopening of the Strait of Hormuz to the end of regional wars in the Middle East, According to Centcom, Hormuz is now mine free and completely open to shipping (crude remains $80+ though..), European Central Bank must act to prevent inflation from taking root, says Kazaks, Corn 3y high prices again, >> Jackson Hole has potential for a big move going into September, petty key for PM's and BTC which have been anticipating the 'debasement', equity markets will react accordingly, watch UST yields tonight/next week, duration is key !!! more than ever...

  • Japan is struggling to sell its debt. Its 2 year government bond auction today saw weak demand. Last week, foreigners dumped short-dated JGBs at a record pace. This explains why yields hit 31 year highs. The market is hiking rates for them.

  • CH - Why Alpine debris flows are becoming more intense and unpredictable

  • Coolcation ! the new buzz word in Scotland (Norway, Sweden, Finland...too..)

  • Pre-tax earnings in the US have hit the highest level since the aftermath of the second world war, while workers’ slice of the pie has sunk to historic lows, fuelling discontent and a widening political backlash

  • Donald Trump signs order renaming Lake Ontario as 'Lake America' in the US, glad he is focusing on things that matters for the U.S economy..



The original accord of 1951 ended a war between the Treasury Department and Federal Reserve System over which had control over the nation’s monetary policy. Despite President Harry S. Truman’s objections, the Fed won its independence.


This would be great news...if/when confirmed








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