The yield on 10-year U.S. Treasuries has jumped 50 basis points since the start of May, leading some to speculate that the market is already starting to price in anticipation of an end to the Fed’s bond-buying program. There may be some truth to that, but it’s only part of the story.
IMF Article IV on the US: “deficit reduction in 2013 has been excessively rapid and ill-designed”
The IMF has just concluded its Article IV consultation with the US. The concluding statement observes:
Petition Signers Need Not Apply
Walker was for the nominee (for University of Wisconsin Board of Regents) before he was against him
Dispatches XXV: A Conjecture Regarding Lagging Employment in Wisconsin
Transvaginal probes (amended to mandated ultrasounds) and giving regressive tax cuts after slashing K-12 education expenditures probably isn’t going to draw high-technology/knowledge based workers to the state
Update on the Yield Curve
Rising Predictive Power?
The more you borrow, the more you’ll pay
A key reason to be concerned about high debt levels is very simple– you’re going to be stuck with the bill for the interest payments for the rest of your life.
Slow and Steady Employment Growth Continues
Plausible and Implausible Explanations for the lagging pace of growth
From Wisconsin Idea to Wisconsin …Something
Some implications of current legislative actions for the conduct of University of Wisconsin system research
From The Isthmus today:
The two-sentence amendment to the budget was part of an omnibus motion that was introduced by the Republican co-chairs of the state Legislature’s Joint Finance Committee and passed just before 6 a.m. It reads:
“Prohibit the Board of Regents from permitting the Center for Investigative Journalism to occupy any facilities owned or leased by the Board of Regents. In addition, prohibit UW employees from doing any work related to the Center for Investigative Journalism as part of their duties as a UW employee.”
“Global Spillovers and Economic Cycles”
That was the title of an illuminating EABCN/CEPR/Banque de France/European University Institute conference I attended last week (organized by Philippe Bacchetta, Laurent Ferrara, Jean Imbs, and Massimiliano Marcellino). The program is here, and papers here.
Wisconsin Economic Activity: April 2013
The Philadelphia Fed’s coincident indices for April are out (h/t Mike Ivey). Wisconsin economic activity as measured by this index continues to surprise, but not in a good way.