Author: Alton Drew

I graduated from The Florida State University with a Bachelor of Science in economics and political science (1984); a Master of Public Administration (1993); and a Juris Doctor (1999). I am a member of the Maryland Bar and practice political law. You can email me at altondrew@gmail.com.
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Will the new administration apply Project 2025 reforms to the Federal Reserve?

Today is Fed Day, when the Federal Open Market Committee wraps up its two-day meeting on the state of the U.S. economy and issues its decision on the appropriate rates for regulating the interbank market. 12 USC 225(a) requires that: “The Board of Governors of the Federal Reserve System and the Federal Open Market Committee … Continue reading Will the new administration apply Project 2025 reforms to the Federal Reserve?

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Today should mark America’s march toward a winning currency policy.

Around 2:00 am this morning, it was projected that Donald J. Trump had secured enough potential Electoral College votes to be America’s 47th head of state. The official certification as president-elect will not occur until the middle of next month in the Electoral College with certification by the President of the Senate of the Electoral … Continue reading Today should mark America’s march toward a winning currency policy.

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The fix is in. Yields inching higher. The polls tightening. Tomorrow night will be pizza and popcorn night.

The 4:15 pm fix is in. According to the Federal Reserve’s data, two-year and ten-year yields have been inching up over the last week. Throw in a little dollar weakening compared to the euro. Given we are closer to the beginning of Election Day (14.5 hours at the time of this writing), could some political … Continue reading The fix is in. Yields inching higher. The polls tightening. Tomorrow night will be pizza and popcorn night.

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Political risks create either shorting opportunities or existential threats …

Four types of political risks arguably move interest rates. First, the perception of fiscal responsibility. If bond holders perceive an increased risk in the government defaulting on bond payments, or not collecting enough in taxes, bond holders will want a higher interest rate before lending the government more money. Second, the economic stances of a … Continue reading Political risks create either shorting opportunities or existential threats …

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Good day, Australia and Japan. The American currency continues to strengthen …

It’s around 11:26 in the morning in Tokyo. Good morning. I am wishing Sydney an early good afternoon. It’s about 1:26 pm on your side of the world. Other than the Dallas Cowboys getting spanked by the San Francisco 49ers, there is nothing major to report. Wait a minute. There is an election to choose … Continue reading Good day, Australia and Japan. The American currency continues to strengthen …

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How should traders position themselves in a split political environment?

NPR’s Ashley Lopez today published a piece discussing the possibility of neither Donald Trump or Kamala Harris receiving the required 270 votes from the Electoral College to be declared President-Elect. Ms. Lopez describes the process where if neither candidate receives the minimum 270 votes, then it would be up to at least 26 congressional delegations … Continue reading How should traders position themselves in a split political environment?

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Should we look at a mortgage like a forward contract?

Just finished watching an insightful interview between Todd Sachs and Danielle DiMartino Booth via YouTube. Ms. DiMartino Booth is a renowned market analyst and commenter who brings an insider’s perspective to activity in the financial markets and the effectiveness of monetary policy. Ms. DiMartino Booth expressed concern about how home purchases used to be about … Continue reading Should we look at a mortgage like a forward contract?