Raising Interest Rates Does Not Counter Inflation

Trump-Netanyahu "Differences": A Good Cop-Bad Cop Routine By Michael Every of Rabobank As You Were... But As Who Was?  Yesterday nearly saw a full restart of the Israel-Iran war, apparently pulled back from the brink by intervention from President Trump. After yet another Middle East rollercoaster for markets it’s now ‘as you were’, with oil --so everything else-- little changed. The larger issue behind that pricing, however, is the key question - ‘As who was?’ Iran set up its proxy network, centered on terror group Hezbollah in Lebanon, to protect itself: if...

Trump Admin Proposes New $100K H-1B Fee To Offset Immigration Enforcement Costs The Trump administration plans to charge employers a fee of $103,265 for H-1B skilled foreign workers, according to a proposed regulation posted on Monday. Revenue from the fee would be used to offset the costs of running the federal immigration system - including courts and US Immigration and Customs Enforcement (ICE).  A similar $100,000 fee was shot down in June by an Obama-appointed federal judge in Massachusetts, after Trump attempted to implement it via presidential proclamation and 20 blue states...

The Bond-Salesman-In-Chief Has Fired The First Shot Of The Capital Market War That Follows The Trade War By Benjamin Picton, senior market strategist at Rabobank US equity markets approached record highs yesterday as traders basked in the afterglow of Donald Trump’s decision to (again) call off Iran strikes in favor of diplomatic efforts. The S&P500 closed almost 1.5% higher and the NASDAQ 100 was up by almost 1.8%. Sovereign yields pushed lower across Europe and North America with Treasuries likely encouraged by comments from Japanese Finance Minister Katayama yesterday that Japan...