Alex Etra
@EtraAlex
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Senior Macro Strategist, Exante Data. Ex-Fed. Views my own. @exantedata
Washington DC
Joined July 2013
RT @JimPethokoukis: 💥 JPMORGAN: ". the risk of politicizing the data collection process should not be overlooked. To borrow from the soft….
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🤦🏻♂️.
Sen. Hawley pitches sending a tariff-related rebate check to "every working person" in U.S.
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I don't pretend to be an expert here, but just so we're clear: We are going to tokenize MMF shares so they can be repo'd, and the MMFs themselves have 40% of their underlying assets in. repo?
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The BEA data could not have been more timely if they tried! See those little slivers on top for expansions and establishments? That's greenfield FDI (not acquisitions or reinvested earnings) from all countries. @Brad_Setser @M_C_Klein @Fehlermaker .
@Brad_Setser @EtraAlex posted a number of ways in which it could work. A guarantee to what are otherwise credit worthy companies doing some form of JV seems like an easy way to hit some of the targets.
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🔥.
On the Japan so called deal (diktat?). Trump can win many fights, but one thing he cannot do is win fights against accounting identities. Trade deals, whatever they do, cannot, as claimed, simultaneously reduce the US current account deficit, and increase net capital flows to the.
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RT @Brad_Setser: A deep dive -- a really deep dive some might say -- into the IMF's new External Sector Report. It is a step in the ri….
cfr.org
There are a few things to note in the IMF’s new external sector report: The IMF—wisely—chooses to emphasize the (modest) increase in the measured global current account surplus rather than how small...
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A way to measure the LoCLR 👀. The Fed - What can public Fedwire payments data tell us about ample reserves?
federalreserve.gov
The Federal Reserve Board of Governors in Washington DC.
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And here is one that is a real head scratcher for the BoP/Z.1/repo nerds cc @Brad_Setser @jstatistic
It reflects repo activity of Canadian banks. I am reasonably confident when we get June data we will see a decline in LT UST/Agency flows from Canada 😉. The bigger question is: Just how much of foreign private LT flows are funded on repo? cc @Brad_Setser @jstatistic @aRishisays
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It reflects repo activity of Canadian banks. I am reasonably confident when we get June data we will see a decline in LT UST/Agency flows from Canada 😉. The bigger question is: Just how much of foreign private LT flows are funded on repo? cc @Brad_Setser @jstatistic @aRishisays
And at some point I suspect someone will figure out why Canada's holdings have been so volatile in the reported data . 8/8
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RT @bencasselman: The BLS's issues with CPI data collection appear to be getting worse. The share of uncollected items subject to "differen….
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It's pretty wild that in our constitutional system, apparently, the president can just impose taxes on specific goods through proclamations on a social media platform (that he himself owns)?.
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You clearly need to speak to newly appointed IRS Commissioner Billy "ERC" Long!
Still. .
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I see you and raise you 😜 @Brad_Setser
Gearing up for the May trade data release. In April, tariff revenue was around $20b, equally split between China and the rest of the world. During Trump's first term the increase in monthly tariff revenue (to $5/6b) was essentially from tariffs on China going from $1b to $4b. 2/
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Exhibit A: 'Moving the Overton window'.
The media has totally moved on from tariffs, total plunge in story count
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