Fed Now Owns All Markets

by pentoport | May 11, 2020 | Commentary

May 11, 2020  Since the Great Recession hit in 2008, central banks have been in the business of keeping insolvent governments from defaulting through the process of pegging borrowing costs near zero. These money printers are now in the practice of propping up...

Mid-Week Reality Check – 5/6/20

by pentoport | May 6, 2020 | Podcasts

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Money Printing is the New Mother’s Milk of Stocks

by pentoport | May 4, 2020 | Commentary

May 4, 2020 My friend Larry Kudlow always says that Profits are the mother’s milk of stocks. That used to be true when we had a real economy. But sadly, that is no longer factual because we now have a global equity market that is totally controlled by central...

Mid_Week Reality Check – 4/29/20

by pentoport | Apr 29, 2020 | Podcasts

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Mid-Week Reality Check – 4/22/20

by pentoport | Apr 22, 2020 | Podcasts

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Mid-Week Reality Check – 4/15/20

by pentoport | Apr 15, 2020 | Podcasts

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Inflationary and Insolvency Implosion of the Bond Market

by pentoport | Apr 13, 2020 | Commentary

April 13, 2020 We are all praying for the Wuhan virus to die. But there is something the virus can actually “cure” itself: deflation. I put the word cure in quotes because it’s not an actual issue in reality. Low inflation and disinflation are actually great...

Mid-Week Reality Check – 4/8/20

by pentoport | Apr 8, 2020 | Podcasts

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Mid-Week Reality Check – 4/1/20

by pentoport | Apr 1, 2020 | Podcasts

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“V” Shaped Recovery Will Need Viagra

by pentoport | Mar 30, 2020 | Commentary

My clients have known for a long time that the nucleus of the next crisis will be in the over-leveraged corporate bond market. This notion was confirmed recently in an article from the WSJ: companies that borrow in the junk loan market are now in a far weaker...