CFNAI Suggests the Fed Has Destroyed the Market's Discounting Mechanism Over Past Decade with Pay-Back Being Increased Volatility

CFNAI Suggests the Fed Has Destroyed the Market’s Discounting Mechanism Over Past Decade with Pay-Back Being Increased Volatility

Stepping away from the “only prices matter” meme for a second to highlight some more work on the Chicago Fed National Activity Index (CFNAI). Historically, when the rolling 3 month average of this index hits and/or dips below a reading…...

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SSEC Finds itself at Another Important Support Zone as FXI Faces Resistance

SSEC Finds itself at Another Important Support Zone as FXI Faces Resistance

All the way back on August 27th we noted the SSEC was in the process of breaking below long-term support dating back to 1994. At the time, we noted that while such a break was unlikely to be an incremental…