reports
- Sean Corrigan
Midweek Macro Musings - Trump that.
​Hard to believe, isn't it? After all the central bankers' fruitless multi-trillion striving to alter the scope of our ;expectations', it seems all we actually needed to persuade us that we stand ready to be ushered straight into the Land of Milk and Honey was the hang - metaphorically speaking - the lawyers and to put a blunt-speaking 'bidneth-man', in the White House in their place!
- Sean Corrigan
Money Macro & Markets - The Humours of Change Alley
'Money, Macro & Markets' is written from the perspective of someone who has been actively involved in the game for the best part of three decades. As a distillation of the insights to be had from this long experience in participating in and observing, reading, and writing about markets, MMM is aimed principally at informed, professional decision makers of all kinds - whether financial advisors, wealth managers, asset allocators, middle office executives or members of the board as well as those t...
- Mark Mahaffey
HindeSight Dividend Letter - Crisis? What Crisis?
‘Crisis? What crisis?’ In 1979, these words helped to bring down the Labour government, even though the man who was thought to have spoken them, Prime Minister Jim Callaghan, did not actually do so. But it mattered not, The Sun newspaper’s headline the next day caught the popular impression of a government unaware of a serious state of affairs that had sneaked up on them during the famous ‘Winter of Discontent’. There had been a run on the pound in 1975 and again in 1976 when the UK’...
- Sean Corrigan
Money macro markets - The outlook from Japan.
The Humours of change alley.I was recently flattered to be asked how I envisaged the dreaded ‘helicopter money’ working if it were not to simply add further to commercial banks’ already crippling mass of deadweight liabilities and assets, given that not only would printing it up in physical form be tortuous, but that cash itself is only one conveniently heinous crime away from being proscribed altogether.The first possibility is that the central bank issues requisition vouchers – sorry! ...
- Mark Mahaffey
HindeSight Dividend Letter - Groundhog day!
​Groundhog seems a very apt way of describing the current state of play in the financial markets, with reports of US stock markets being in the tightest trading range for five decades prior to last Friday. With the cycle of strong data, Federal Reserve officials talking about imminent interest rises, followed by a piece of weak data, all bets are off the table and back to the elevated plateau in most asset classes, as the monetary policy farce continues to mask reality. Whether it is in the US...
- Sean Corrigan
Midweek Macro Musings - ‘Liquidity trap’, my foot!
On the face of it, China succeeded in defying its critics by engineering yet another round of face-saving expansion. Industrial production, for example, has picked up to 6.3% pace only twice exceeded in the past 18 months (though those of a suspicious bent would note that 3-, 6-, and 12-month annualizations of this number all coincide a little too neatly for comfort). Not hurting the cause has been an heroic expansion of the money supply emanating from the commercial banks (rather than directly ...
- Sean Corrigan
A Hitchhiker’s Guide to the Federal Reserve's Monetary Policy Toolki...
​Sean Corrigan has never been one to mince his words. As the extraordinary monetary policy of the last few years has unfolded, he's again and again talked in numerous columns and in his Macro newsletters (both Midweek Macro Musings and Money, Macro and Markets) about the policy and the Macroeconomic implications.Just last week he was on CNBC talking about the Stimulus effect - then he appeared on plenty of other programs about the same but slightly different sectors within the larger economy.N...
- Mark Mahaffey
HindeSight Dividend Letter - A Cunning Plan!
We should be worried when share prices trade far higher than their fundamentals, based on historical norms. Equity valuations should be backed up by robust earnings and the less paid for those earning streams the better. With the economic winds looking distinctly less favourable as well, we do not think it is wise to overstay the party in the equity markets. Read the letter that crosses the desk of almost 1,000 investors a month as they plan their portfolios, adding protection and growth in toda...
- Sean Corrigan
Midweek Macro Musings - economically illiterate politicians!
​"We have had the would-be leader of the Labour Party, Owen Smith, boasting of offering the ‘biggest increase in living standards for a generation’ by making the most marginally productive, youngest workers 55% more expensive to employ! Then we have that egregious, hippy moonlighter and part-time climate warrior, Mark Carney, rushing to the men’s room to show Mario Draghi how well he, too, is endowed—to the hearty cheers of ALL the MPC insiders. His a singularly foolish programme of re...
- Sean Corrigan
Midweek Macro Musings - something's brewing...
​Not sure which (exclusive) graph to show here as there's a whole bunch of lines showing some real insights. Junk, Energy Junk & Energy Prices 'Take profits and think about moving the other way' - MOODY's BAA 'Entering the realm of the last great episode of financial suppression' - China 5-yr IRS v 1/CNY 'No policy intent to see here. Move along please.' GBP/USD 'Sterling clinging valiantly to post-Brexit wreckage, but...' Sean Corrigan has, again, highlighted the Macro view thats really imp...
- Sean Corrigan
Money Macro & Markets - Brexit and China heavy analysis
Put another way, for every £1.00’s worth of imports shipped from the EU, the UK sends back only 60p in exports whereas the return in the rest of the world is 80p – a ratio a full third better. In services, even though Britain does manage to achieve a £1.31 inflow for every £1.00 laid out to its Continental neighbours that is still a full third less than the £1.91 it secures in the wider world. Taken together, what we see here is that a purchase of £1.00 made in Europe is offset by only ...
- Sean Corrigan
Midweek macro Musings - Brexit and the Macro Outlook
​​'Giving the masses instead the means to keep on overspending on exhaustibles and non-tradeables, while underwriting wild- eyed ’infrastructure’ make-work schemes as the Tory Wets are proposing, means only inflation, not a potential enhancement of future prosperity. If Carney does not comprehend this, perhaps his should be the first work-permit to revoked and he can go back to that other country he helped destabilize, his native Cana- da, which boasts the world’s fourth largest extern...
- Sean Corrigan
Brexit, Chinese economy and global money 'velocity' laid bare.
"Here we make a selection of what we think are the most salient of the last weeks’ macro numbers and market movements. For ease of reading and speed of comprehension, ‘Musings’ will offer a short, hard-hitting commentary to accompany a lively, graphical synopsis of important data as it arrives as well as of potential trigger points for those making trading and investment decisions on a daily basis."Sean CorriganSean’s writing is intellectually fearless and hard-hitting. There’s no minc...
- Sean Corrigan
Money Macro and Markets - Where the money grows.
In this months crosshairs is Janet Yellen amongst others: 'You want to solve the ‘productivity puzzle’? You want to avoid the curse of ‘secular stagnation’? You want peopleto succeed? You want to know what is the true ‘neutral’ rate of time discount? Then allow the market to root out the unproductive. Stop subsidizing the forces of stagnation.Steel yourself to allow people to fail so that others may advance. LET INTEREST RATES FIND THEIR OWN LEVEL!' ​'Money, Macro & Markets' ...
- Sean Corrigan
THE CASE FOR POSITIVE INTEREST- An Austrian rebuttal to Summers et al
​Sean Corrigan delivers a bulletin from his popular Money Macro and Markets Newsletter posing the case for positive Interest Rates. He has regularly contributed to many financial media sites including Faz, WSJ, Handelszeitung, CNBC & The Daily Reckoning, as well as to the centre of though leadership such as The Cobden Centre, the IEA, and the Mises Institute.A must read and just a small sample of his brilliance in Macro analysis.
- Mark Mahaffey
HindeSight Dividend Letter
​Dividends matter. Fact. Investing in those businesses that pay a bumper dividend to their loyal shareholders really, really matters to your cash returns. But as with any Investment opportunity, how do you filter the great from the disastrous? Imagine if there was a way to rid yourself of the hassle of research and analysis of all the myriad of opportunitiesIntroducing our Hinde Dividend Value Matrix that was built, back tested, retested, rigorously tested to almost destruction, refined and ro...
Midweek Macro Markets by Sean Corrigan
​​​A succinct global Macro view encapsulated in readable chunks with unparalleled analysis and a quality you'd expect from a well funded team inside an asset management house - who still wouldn't read the data as accurately, or wisely as Sean does. Truly eye opening research that has to be seen to be believed. It will serve as the root of every good decision for those that need an unflinching perspective."Here we make a selection of what we think are the most salient of the last weeks’ m...
HindeSight Dividend Letter
​Dividends matter. Fact. Investing in those businesses that pay a bumper dividend to their loyal shareholders really, really matters to your cash returns. But as with any Investment opportunity, how do you filter the great from the disastrous? Imagine if there was a way to rid yourself of the hassle of research and analysis of all the myriad of opportunitiesIntroducing our Hinde Dividend Value Matrix that was built, back tested, retested, rigorously tested to almost destruction, refined and ro...
Midweek Macro Musings
​​A succinct global Macro view encapsulated in readable chunks with unparalleled analysis and a quality you'd expect from a well funded team inside an asset management house - who still wouldn't read the data as accurately, or wisely as Sean does. Truly eye opening research that has to be seen to be believed. It will serve as the root of every good decision for those that need an unflinching perspective."Here we make a selection of what we think are the most salient of the last weeks’ macr...
Money Macro and Markets
Money Macro and Markets newsletter is a detailed monthly look at economic, political and financial developments around the world – tracking potential seismic shifts in markets, signposting opportunities to protect and build your portfolio.WHO'Money, Macro & Markets' is written from the perspective of someone who has been actively involved in the game for the best part of three decades. As a distillation of the insights to be had from this long experience in participating in and observing, read...
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