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Dollars, Stalemates, And Magic Lines
The week started with a deadline and ended with finger pointing. “We could do that before the election if theContinue Reading
Meanwhile, In Good News…
And now, for some good news. Business activity in the US is proceeding at the briskest pace since February ofContinue Reading
Double-Dip Recession Risks Becoming Base Case For Europe As Virus Spreads Anew
About that European recovery. It’s in serious doubt. And there’s no mystery around why. As you’re probably apprised, Europe isContinue Reading
Nomura’s McElligott On October As The Anti-Status Quo And The ‘New’ Election Tail Risk
October’s action in rates and associated thematic expressions in equities represent a “reversal” of the decade-old “status quo,” Nomura’s CharlieContinue Reading
A Slippery Slope Straight ‘To Hell’
Assuming US stocks “wanted” to go quietly into the weekend, the final US presidential debate offered nothing in the wayContinue Reading
Apprehension And Irony
US markets felt apprehensive Thursday. If that’s an accurate read, it’s understandable. The timeline on virus relief is still ambiguousContinue Reading
America’s New Housing Bubble Is Terrifying And Comforting All At Once
It’s hard to know whether to cheer or shudder at ongoing signs of strength in the US housing market. OnContinue Reading
Gods Don’t Bleed (But Albert Edwards Isn’t So Sure)
Don’t doubt the gods. That was the lesson learned over the summer of our discontent, when the pandemic exacerbated alreadyContinue Reading
As Spain, France Top 1 Million Virus Cases, Half Of European SMEs May Be Gone In 12 Months
The COVID containment effort is in shambles across Europe, where officials are now grappling with the harsh reality of aContinue Reading
Indecipherable Data Shows Jobless Claims At Lowest Of Pandemic Era
“Just” 787,000 Americans filed for unemployment benefits last week, considerably better than the 870,000 economists expected. California resumed reporting after aContinue Reading
Running Interference
The mood was somewhat sour Thursday ahead of the last US presidential debate. Reports that Iran and Russia managed toContinue Reading
‘Buying No Matter What’: Risk Aversion And The Ghost Of 2016
Perhaps market participants are too comfortable in the assumption that Joe Biden will prevail next month in convincing enough fashionContinue Reading
Back To The Twilight Zone: Companies Get Paid To Borrow During Pandemic
Nothing gets the crowd going quite like negative rates. “Perversion” is a term that invariably gets bandied about whenever thisContinue Reading
Tail Risks Of The Reconstruction: Nomura’s McElligott, BMO, Goldman Talk Rates, Stimulus, Election Nexus
If everyone else zigs, you may want to zag — at least for a hedge. With long-end yields stateside havingContinue Reading
Sell Your 92-Year-Old Tree-Trimming Business Before It’s Too Late!, Investment Bankers Shriek
Sell it now before it’s too late! Apparently, that’s the pitch bankers are making to scare folks into offloading stakesContinue Reading
