Seeking Alpha

Blu Putnam

 
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  • The Yellen Fed And U.S. Labor Market Dynamics
    Wed, Jul. 2 3 Comments

    Summary

    • How to analyze labor markets from the perspective of monetary policy-making.
    • We highlight crucial differences in interpretation that could fuel debate, both inside and outside the Fed.
    • Our central theme is that interactions among labor market conditions, economic growth, inflation, and inflation expectations are inherently dynamic.
  • Challenges To Abenomics: Japanese Growth Rides On Potentially Elusive Productivity Gains
    Tue, May. 13 DXJ, EWJ, NKY 1 Comment

    Summary

    • Abenomics was sold to the electorate in December 2012.
    • Policy was sold partly on hope and partly on a willingness to give change a chance based on the frustrations of the past two.
    • There is a burning desire in Japan to regain some of the past economic glory and to attain annual real GDP growth rates above 2% and possibly higher.
  • China: FX Pressures Altering Demand For U.S. Treasuries
    Mon, Mar. 10 FXI, PGJ, GXC 2 Comments

    Summary

    • The Chinese RMB versus the US dollar moved from 6.0484 to 6.1457 between 24 January and 3 March.
    • This small currency move can be viewed as further evidence of some basic trends in the Chinese economy that we have been following for some time.
    • In 2011, we argued that the end of the infrastructure boom would lead to a more rapid deceleration of economic growth than most market analysts were anticipating.
  • Fed Forward Guidance In The Spotlight
    Mon, Mar. 10 1 Comment

    Summary

    • Yellen Fed begins to take shape.
    • The two upcoming FOMC press conferences will give Yellen ample opportunity to define the nature of monetary policymaking under her leadership.
    • We expect Yellen to give considerable attention to how forward guidance is communicated.
  • Emerging Market Turmoil Abating?
    Thu, Feb. 27 EEM, VWO, EDC 1 Comment
  • U.S. Economy: Solid Momentum Entering 2014
    Editors' Pick • Thu, Jan. 9 GLD, SPY, SH 40 Comments
  • Fed Likely To Postpone QE Tapering Decision Into 2014
    Oct. 7, 2013 1 Comment
  • A New Direction For The FOMC And For U.S. Treasuries?
    Oct. 2, 2013 3 Comments
  • Japan: A Whiff Of Inflation?
    Oct. 2, 2013 EWJ, FXY Comment!
  • September 2013: Potentially A Very Challenging Month For The U.S. Treasury Market
    Editors' Pick • Sep. 5, 2013 6 Comments
  • Monitoring The Dual Mandate Of The Federal Reserve
    Aug. 5, 2013 SPY 1 Comment
  • U.S. Inflation: Delayed, Not Denied
    Editors' Pick • May. 30, 2013 114 Comments