Everyone “is focusing on the positivity in the minutes, and talk of neutral rates at 3.5%, is well above market pricing”…
Day: July 17, 2017
Dollar Dives As Republican Health Care Bill Collapses
Well, it looks like the healthcare bill is dead after two more Republican Senators said
Iron Ore Futs Surge To $70/Ton
To whom it may concern…
4 Tail Risk Hedges For A Sudden Vol. Spike Or, ‘The Chevy Cavalier Trade’
“There are many potential catalysts that could cause large re-pricing of risk almost instantaneously.”
Joe Biden: The GOP Healthcare Bill Makes My ‘Blood Boil’
“They no longer had to lay awake at night wondering: Can I pay for this treatment? What happens if she gets cancer? How will I feed my family and afford the care?”
Letters To The LA Times: ‘Mary’ Asks Republicans – ‘Have You No Sense Of Decency?’
“Have you no sense of decency, sir, at long last?â€
Risk-On Still Intact As Entire World Ignores China Stock Plunge: Full Visual Recap
All told, the mood remains “risk-on.”
‘Things Have Changed Dramatically’: Please Explain Why Markets Don’t Care About Nuclear War
“The market may think that it has history on its side (Chart 3), but the fact that North Korea has demonstrated that it now has the ability to strike the US and that Kim Jong-un appears to be a less rational player than his father and grandfather would suggest that the game may have changed dramatically.”
A Nightmare On Wall Street – Updating The Feedback Doom Loop (Again)
Listen, there is a non-negligible chance that you have unwittingly sowed the seeds of this
‘These Are The Most Illiquid Conditions I Have Ever Seen’: One CIO Warns On EM ETFs
“In 2017, with the absence of banks providing liquidity, who will facilitate the flows for the one-day ETFs and mutual funds?”
Bitcoin And Tesla: The ‘Two Poster Children Of Speculative Froth’
“And this next statement is where I am going to get myself into some trouble. I don’t think this speculation was healthy. I don’t view either of these themes as particularly well thought out. Yeah, I know Musk is going to change the world, and we will all be paying for our TSLA Model 3’s in bitcoin. Don’t bother trying to convert me. I think both of these assets are legitimate technologies, but both are priced for an unrealistic reality.”
El-Erian: Jamie Dimon Is A Patriot Who Just Wants To Know What The Fuck Is Going On
“Given the role and importance of the U.S. in an interconnected global economy, much of the rest of the world — and especially America’s friends and allies — has gone from looking at this situation with curiosity and bemusement to confusion and concern.”
‘Game Of Chicken’: Why Do Markets Think They’re So Damn ‘Impervious’?
“If the market is underpricing the uncertainty with respect to the outlook of US monetary policy, we are even more concerned that it seems totally impervious to the risk of two potentially disruptive, if not dangerous, Games of Chicken likely to unfold in the summer and the beginning of the fall.”
‘Does a Canary Chirp If No One’s in the Mine?’
“For now, nothing can go wrong. And if you needed any proof that central bank policy is the ultimate driver of these markets, here you have it.”
 Joe Scarborough: Trump Is Killing The Republican Party
“I did not leave the Republican Party. The Republican Party left its senses.”
Record Complacency Is ‘Reasonable And Could Last A While Yet,’ John And Katherine Imagine
As you get your week started and as you prepare for the ECB to try
Asian Stocks Soar To 9-Year High: ‘The Bar Has Reopened And People Are Getting Drunk’
“It’s like the bar has reopened and people are coming back again for drinks,” BDO’s Jonathan Ravelas added. “There is no threat coming from inflation so the risk of another interest rate hike in the U.S. has diminished significantly.”
Chinese Small Caps Plunge – The Writing Was On The Wall Last Week, Folks
And remember, “China”, “deleveraging” and “concerns” are not three words you want to hear in the same sentence first thing in the morning…
Key Calls (Monday): Upgrades, Downgrades & Initiations
You need an upgrade.
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