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On the Butler Patio

Latest Articles

What’s Going On with Oil?

By Chuck Butler

 

It runs up, it slides down, it runs up, it slides down… How long will this go on? Oh! I’m talking about the price of oil! You know Black Gold, Texas Tea? Every time it appears that the price of oil is going to go higher and stay there, it gets slammed by a supply glut… Then supply goes down, because the price of refined oil, aka gas, goes down, and that causes the price of oil to rise again.

 

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What's Going on in Europe These Days?

By Chuck Butler

 

In 2011, the world woke up to a hornet’s nest that had been stirred up by an announcement that Greece couldn’t pay their debts. Oh no! The markets cried, the humanity!

 

I tried to calm the readers of my daily letter, A Pfennig For Your Thoughts, down by showing them that Greece’s GDP was about the same size as Kentucky’s… But then more countries, mostly in the South Region, of what I call the Eurozone, came forward with their collective hats in their hands looking for bailouts too, and soon, these countries were known as the PIIGS…   Portugal, Ireland, Italy, Greece and Spain…  And the euro tumbled mightily…

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What Me Worry?

By Chuck Butler

 

Ladies and gentlemen, we have embarked on a new era, one that allows a country’s central bank to raise interest rates in the face of a weakening economy. One that also allows them to begin to pour mountains of supply in bonds on the markets, also in the face of a weakening economy, and then say with a straight face… “Our decision reflects the progress the economy has made and is expected to make.”

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What Are Central Banks Doing?

By Chuck Butler

 

I began my career in investments on the equities side, and while I did every job there was in the back office of a regional brokerage firm, I had this feeling that there was more that I wanted to do… And then came my introduction to bonds. 

 

Oh boy, did I love the fixed income business, and it wasn’t until I began to trade bonds that I realized the Federal Reserve / Central Bank was so involved in the bond market every day. But the bond market is HUGE, folks, and I was taught something early on in my bond career. It is that the Markets have deeper pockets than any Central Bank.

 

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