We’ve seen this movie before… and it usually ends badly.
Day: March 1, 2017
Chart Check: Subprime Auto Delinquencies Near Crisis Levels
Over the past several weeks, I’ve documented what looks to be the beginning of the
Goldman: Dollar Subject To “Quick Upside Repricing,” Structural Strength
Regardless of whether you agree with how the market is now pricing the odds for a March hike, you should think about the extent to which policy divergence between the Fed and the BoJ/ECB is for all intents and purposes inevitable.
How About Some Deflation With Your Reflation?
You just need one chart…
Can Someone Please Explain This Schatz?!
We need to know the extent to which the Schatz spread to 2Y French govies is an indication of investors trying to price redenomination risk around a prospective Marine Le Pen win. That is, we need to understand how closely we should be watching the German curve as a barometer of political risk.
WTF Chart Check: Don’t Forget About France
Lest it should slip your mind that for every “success” Trump has, the odds of a French electoral “accident” increase, consider once again the disconnect between asset prices and policy uncertainty in Paris as illustrated here by HY spreads versus the EPU…
2-Year Yields Highest Since 2009 While German Yields Argue With Soaring Inflation
One thing you might want to note is that 2Y yields hit their highest level
As March Odds Top 80%, One Bank Says Not So Fast
“That Wells Fargo note is looking pretty prescient right now” – said no one, anywhere ever. Until now.
Traders, Analysts Are Pissed: “At Some Point, Everyone Is Going To Realize The New Emperor Has No Clothes”
“As analyst notes flow in to investors’ inboxes during the next 24 hours, asset prices may start reflecting a far more negative outcome. Beware downside moves in the dollar, in U.S. yields, and even in equities. At some point, traders may realize the new emperor has no clothes.”
“Beware The S&P Air Pocket”
Regular readers may recall Citi’s News Implied Sentiment Indicator (NISI) which “aims to capture investor
With Odds Of March Mushroom Cloud Lower, Time For Trump Economic Team To “Muddy Those Expensive Loafers”
The political scientist in me is a little annoyed with some of the overnight Street
Chaaarge! Global Rally Is Back As Trump Discovers Teleprompter Is His Friend, Fed Speakers Talk Up March
It would be a stretch to say he “did a good job.” It felt like we were watching a man who had been told, in no uncertain terms, that this was most assuredly not the time to play presidential Mad Libs.
Key Calls (Wednesday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
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