Michael Ashton

E-PIPHANY

Contributor since: 26 Feb 2010

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• The Longest Journey Begins With Delaying the First Step

  Published 18 September 2013 | viewed 0 times

  Everyone expected markets to provide a lot of late-day volatility today, and so they did. The Fed apparently doesn't mind surprising the market with a…

• Summary of My Post-CPI Tweets

  Published 17 September 2013 | viewed 0 times

  Here is a summary of my tweets after the CPI release this morning. You can follow me @inflation_guy. CPI +0.1%/+0.1% core, y/y core to 1.8%.…

• But How Near is the Fall?

  Published 16 September 2013 | viewed 0 times

  I will resist the temptation, succumbed to by many others, to offer a pithy title turning on some pun involving Larry Summers' name. For example,…

• Verizon and Velocity

  Published 12 September 2013 | viewed 0 times

  What is the significance of the fact that Verizon on Wednesday managed to sell $49bln in bonds without any kind of hiccup? Obviously, it means…

• The Fed and Regulators Should Draw the Veil

  Published 09 September 2013 | viewed 0 times

  When I remark, from time to time, that I think the Fed has made a mistake in increasing transparency of its deliberations and actions, people…

• Summary of My Post-Employment Tweets

  Published 06 September 2013 | viewed 0 times

  Here are my post-Employment tweets. You can follow me @inflation_guy. Pretty weak NFP number since the payrolls figure (169k) plus revisions (-74k) is way worse…

• Guarding Your Tail

  Published 03 September 2013 | viewed 0 times

  It didn't seem when dawn broke in New York today as if the stock market would spend some time during this first post-summer session fighting…

• Japanese Inflation is Rising – Of Course!

  Published 30 August 2013 | viewed 0 times

  The Financial Times today carried an article entitled "Japan Inflation Rises to Highest in Nearly Five Years." Core inflation in Japan reached -0.1%, which is…

• Not Broken, Just Bent?

  Published 29 August 2013 | viewed 0 times

  Equity market bulls are a tenacious bunch. In August, with increasing tensions in the Middle East - Egypt and, this time, Syria - along with…

• It's Risk Parity, Not Risk Party

  Published 15 August 2013 | viewed 0 times

  I am disinclined to take victory laps when most people are losing money, but the recovery in commodities prices over the last week at the…

• A Summary of My Post-CPI Tweets

  Published 15 August 2013 | viewed 0 times

  Here are my post-CPI tweets from this morning. You can follow me @inflation_guy: CPI #inflation +0.2% core. But here's the thing: that's with housing showing…

• The Right Clearance for the Bumpy Road Ahead

  Published 12 August 2013 | viewed 0 times

  There are many reasons to be scared of the financial system in Europe. The interweaving of sovereign risk and inter-sovereign risk with bank guarantees and…

• Why Aren't Delinquencies Falling Faster?

  Published 08 August 2013 | viewed 0 times

  The great news today is that mortgage delinquencies dropped to their lowest level in five years. Look at the chart (source: Bloomberg)! Doesn't it look…

• The Disturbing Evolution of Central Banking

  Published 07 August 2013 | viewed 0 times

  One of the more disturbing meta-trends in markets these days is the direction the evolution of central banking seems to be taking. I have written…

• Sweet And Sour

  Published 02 August 2013 | viewed 0 times

  Yes, I understand that it is an absolute blast to be long stocks when they are ripping higher. Everyone has fun, everyone feels wealthy, and…

• Is A Bond Rally Due?

  Published 29 July 2013 | viewed 0 times

  As we head into a very busy week of economic data, the bond market remains drippy with the 10-year yield up to 2.59%. (Just writing…

• A Quick Thought on Municipal Bankruptcy

  Published 24 July 2013 | viewed 0 times

  On CNBC today, analyst Meredith Whitney commented that "everybody loses" from the Detroit declaration of bankruptcy. If that is the case, then why in the…

• Babies and Bathwater

  Published 23 July 2013 | viewed 0 times

  Before I descend into the mundane discussion of economies and markets, let me first congratulate the Duke and Duchess of Cambridge on the birth of…

• Ben, Can I Speak With Your Mommy?

  Published 17 July 2013 | viewed 0 times

  Although the market action was restrained today, one gets the feeling that it was the heat rather than the lack of news. There were at…

• Don't Look Now, But

  Published 16 July 2013 | viewed 0 times

  In our business, one must be very careful of confirmation bias of course (as well as all of the other assorted biases that can adversely…