Ticker Tape(r) Parade? [Ep. 108]

Sep 26, 2021

Ask episode

Chapters

Transcript

Episode notes

PART 1: Offshore shadow money funds the global economy, but it lies in the shadows; it's off-balance sheet and off-the-regulatory-radar. A good place to get a sense of offshore shadow money is the Treasury International Capital report. Jeff Snider serves as our guide through July's data - and warnings.

PART 2: Interest rate swap spreads are negative. These 'underwater' derivatives indicate very high market demand relative to money dealer supply. So, if bank balance sheet capacity remains constrained--available only at a premium--that means there's not enough 'money' in the world economy.

PART 3: Will 2022-demand be strong enough to absorb 2021-supply surges? A review of the US inventory cycle and how global covid-related restrictions have convinced retailers, wholesalers and producers to surge goods orders. If demand isn't there, they will have over-ordered.

-----SEE EPISODE 108------
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL

-----HEAR EPISODE 100----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr

----EP. 108 REFERENCES---
Dollar Warning Update From The Islands Which Started It: https://bit.ly/3ESLFhI
PracTICal Remainders and Reminders: https://bit.ly/3kBfpr0
Hey Jay, Maybe Check The Swaps Before Committing to Taper: https://bit.ly/3ET9VjM
(WSJ) Spread on 30-Year Treasury Swaps Turns Positive: https://on.wsj.com/2XNJLxr
All Eyes On Inventory: https://bit.ly/2Wg6ty8

-----------WHO-------------
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by David Parkins, grand marshal of editorial cartoons. Podcast intro/outro is "Digital Breath" by ELFL from Epidemic Sound.