Investors are now so desperate for yield they’re willing to (literally) pay for obscene golden parachutes…
Day: February 21, 2017
Crazy Vs. Crazy: Are Things Really More “Uncertain” In Europe Than They Are In The US?
How can a market “take into consideration all potential future events”? Obviously it can’t. That’s absurd. That said, stocks should be expected to discount what we might call “known unknowns.” That is, events that we know are likely to cause turbulence but that also admit of some indeterminacy regarding outcomes. Things that would fall into that category include the French elections and US tax reform.
Chart Check (A “Rigged” Market)
“Stronger oil demand to end 2016 helps to accommodate slightly higher US oil supply, but we see downside risk to our WTI forecast of $55/bbl in 2018 if our upside case for US supply growth plays out all else equal.”
Thrilling Video: Chasing The Equity “Bull” Market
This is what happens when you short a raging bull market and have to frantically cover on the way up…
Stocks May Be Asleep, But Credit Is Passed The F*ck Out
Morgan Stanley has been warning about richness in credit for months and I’ve often cited their analysis in my own posts. Indeed I’ve said repeatedly that when it comes to tranquil markets and rampant complacency, there’s no asset class that looks more dangerous than credit.
Chart Check: Politics At Work
This is what happens when political risk trumps economic data…
Former Swedish PM Mocks Trump, Cites “Alternative” Murder Facts
Well, it look like “what happened in Sweden” might well surpass “Frederick Douglass is an example of somebody who’s done an amazing job,” on everyone’s top 10 list of dumb sh*t Donald Trump’s said.
“You’ll Like It Too!” Ireland Now Less Risky Than France
Tired of sticking around in OATs as spreads to bunds balloon and Marine Le Pen’s chances of becoming President tick higher taking us ever closer to a French redenomination event and subsequent €1.7 trillion sovereign default?
One Trader Doesn’t Get Why You’re So Damn “Punchy” This Morning
” The rest must have done some people good, because the feel of the market is a bit punchy as we start out of the gate. I’ve no strong explanation why”…
Dollar On A Harker High, European Economy Hums Despite Political Turmoil, Kuroda Continues To Confuse
Well, that escalated quickly. It wasn’t hard to predict what would set the tone overnight.
Key Calls (Tuesday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
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