“In the same way a boxer who drops his guard runs a risk of being knocked out, complacent markets are facing a potentially painful encounter with reality.”
Month: June 2017
Tech Turmoil: Black Swan Vol. Event Burns ETFs, Hedge Funds Dump Nasdaq Longs
“Do you see what happens?!”…
“Thank You For Calling Fox News 9-1-1”
“To continue in English, just keep listening—everything here is in English, because, the last time we checked, this was ​America​, goddammit.”
“Every Time The Market Has Moved Up To This Trendline” There’s Trouble
“Our fair value model indicates these pressures will push the US10yr up to 3.00%. The latter level is also the major support line coming all the way from the late 1980s.”
And The “Biggest Risk” To Credit Markets Is…
“Oil can be an issue this summer if prices fall below $40/bbl, but we are more worried about…”
The Dictator’s Playbook: From Obstruction To Attacks On The Press, It’s All The Same
“In the case of his attacks against the free press, Trump, like many dictators, calls them the enemies of the people, hoping they will be afraid to report real news. He is wrong. They will not be.”
Who’s Super Excited About Momentum Smart Beta ETFs For Q3?!
All of your hands should be raised…
A “Tantrum” By Any Other Name…
“The main difference between where we are today and where we were in previous tantrum episodes is positioning”…
1967: Turning Point Or Just One Moment In A Cycle That “Always Ends With Military Men In Power”?
“So was 1967 a turning point, or was it just one of several key moments in a long cycle – a cycle that always ends with military men in power?”
One Trader Doesn’t Like Your “Hyperbole,” But He’ll Let It Slide As Long As You Don’t Mistake A Passing Pigeon For “Paree”
“It’s been a week filled with hyperbole. Trial balloons dressed up as pre-commitments. A little volatility described in cataclysmic terms and compared to jarring historical market upsets.”
Mika Brzezinski, Joe Scarborough: “Donald Trump Is Not Well”
” This year, top White House staff members warned that the National Enquirer was planning to publish a negative article about us unless we begged the president to have the story spiked. We ignored their desperate pleas.”
“Quick! Staring Contest, Me And You”: Who Blinks First, OPEC Or US Energy?
“You win, you always do”…
And God Said “Let There Be Data: And There Was Data.”
It’s Friday and God said, “let there be data: and there was data.” Let’s start in Europe, where inflation slowed to 1.3% y/y this month
Key Calls (Friday): Upgrades, Downgrades & Initiations
You need an upgrade.
Is Risk Parity Deleveraging The Biggest Risk To Markets?
“However, relative to CTAs there is much less transparency on the total size of assets in risk parity and equity vol control strategies let alone the subset of which is completely rules-based.”
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