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Year: 2018

‘We Think The Die Has Been Cast’: Why One Bank Just Cut Their 2019 S&P Target

December 25, 2018

“… by then what will the capital markets look like?”

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1 Comment on ‘We Think The Die Has Been Cast’: Why One Bank Just Cut Their 2019 S&P Target

Trump May Fire Mnuchin If Stock Selloff Continues: Reports

December 25, 2018December 25, 2018

You had a good run Steve…

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8 Comments on Trump May Fire Mnuchin If Stock Selloff Continues: Reports

Nikkei Suffers Grievous Loss In Dramatic Rout While Plunge Protection Team Rides To Rescue In China

December 25, 2018December 25, 2018

All (not) quiet on the Eastern front.

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There Was One Analyst Who Told You S&P 2,400 Might Be Coming…

December 24, 2018December 25, 2018

“…it’s consistent with the strike of the Fed put around 2400.”

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1 Comment on There Was One Analyst Who Told You S&P 2,400 Might Be Coming…

Japanese Stocks Plunge As Nikkei Takes Out 20,000, Falls Into Bear Market

December 24, 2018December 24, 2018

This isn’t the best news for the BoJ.

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3 Comments on Japanese Stocks Plunge As Nikkei Takes Out 20,000, Falls Into Bear Market

Stocks Crash In Christmas Eve Bloodbath After Trump Insults Powell’s Golf Game On Twitter

December 24, 2018December 7, 2021

A Christmas Eve massacre.

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15 Comments on Stocks Crash In Christmas Eve Bloodbath After Trump Insults Powell’s Golf Game On Twitter

‘Prudent’: As Panic Spreads, Treasury Rushes To Explain Why Mnuchin Yelled ‘Fire’ In A Crowded Theatre

December 24, 2018October 23, 2021

“A prudent, preemptive measure.”

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7 Comments on ‘Prudent’: As Panic Spreads, Treasury Rushes To Explain Why Mnuchin Yelled ‘Fire’ In A Crowded Theatre

Another Day, Another Mini-Flash Crash

December 24, 2018

And now, more broken markets.

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2 Comments on Another Day, Another Mini-Flash Crash

Holiday Psych Out: Market Nerves Frayed After Mnuchin Plunge Protection S.O.S.

December 24, 2018October 23, 2021

At least we know the ATMs won’t go dark.

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2 Comments on Holiday Psych Out: Market Nerves Frayed After Mnuchin Plunge Protection S.O.S.

Why Is Steve Mnuchin Calling Wall Street CEOs On Sunday To Ensure ‘Ample Liquidity’?

December 23, 2018December 24, 2018

“The banks all confirmed ample liquidity is available”…

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15 Comments on Why Is Steve Mnuchin Calling Wall Street CEOs On Sunday To Ensure ‘Ample Liquidity’?

The Infamous ‘Retail Flush’: One Bank ‘Explains’ The December Selloff

December 23, 2018December 23, 2018

Blame mom and pop – or something like that.

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3 Comments on The Infamous ‘Retail Flush’: One Bank ‘Explains’ The December Selloff

More Turmoil As Israel Stocks Plunge Most In Seven Years Amid Perrigo Purge

December 23, 2018December 23, 2018

Good start.

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oil2 Comments on More Turmoil As Israel Stocks Plunge Most In Seven Years Amid Perrigo Purge

Trump To Boot Mattis From Pentagon On January 1, Touts Phone Call With Erdogan

December 23, 2018October 18, 2019

“I am pleased to announce “…

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4 Comments on Trump To Boot Mattis From Pentagon On January 1, Touts Phone Call With Erdogan

The Fed ‘Substantially Increased The Chances Of A Major Crash’ In The Next 24 Months, One Bank Exclaims

December 22, 2018October 23, 2021

Was this “the Fed’s new ‘subprime is contained’
moment”?

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10 Comments on The Fed ‘Substantially Increased The Chances Of A Major Crash’ In The Next 24 Months, One Bank Exclaims

‘I Never Suggested Firing Powell’: As Mnuchin Pulls Damage Control Duty, Some Thoughts And Charts

December 22, 2018October 23, 2021

“I totally disagree with Fed policy.”

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4 Comments on ‘I Never Suggested Firing Powell’: As Mnuchin Pulls Damage Control Duty, Some Thoughts And Charts

Depth Charge, Gamma Gravity And A Dark, Twisted Fantasy Come True

December 22, 2018December 22, 2018

We are now living in a collage of surreal fantasies, each of which could serve as the plot for a thriller.

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7 Comments on Depth Charge, Gamma Gravity And A Dark, Twisted Fantasy Come True

‘The NYSE Alone Has Lost $3.3 Trillion In Value’: Don’t Blame Fed Balance Sheet Runoff For The Bear Market

December 22, 2018

Or at least not entirely…

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7 Comments on ‘The NYSE Alone Has Lost $3.3 Trillion In Value’: Don’t Blame Fed Balance Sheet Runoff For The Bear Market

Trump Said To Consider Firing Jerome Powell – If You’re Surprised, Your Naiveté Knows No Bounds

December 22, 2018October 23, 2021

Nobody could have seen this coming.

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7 Comments on Trump Said To Consider Firing Jerome Powell – If You’re Surprised, Your Naiveté Knows No Bounds

It All Falls Down: Stocks Crash Again As Trump Shutdown Begets Friday Rout

December 21, 2018October 23, 2021

It’s over for Trump.

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8 Comments on It All Falls Down: Stocks Crash Again As Trump Shutdown Begets Friday Rout

CNBC Gives Fed A Mulligan As John Williams Explains What Powell Actually Meant

December 21, 2018December 21, 2018

A little less “plain English” and a little more of this.

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8 Comments on CNBC Gives Fed A Mulligan As John Williams Explains What Powell Actually Meant

Veteran Trader: ‘Credit Spreads Are All That Matter’

December 21, 2018December 21, 2018

“Or have we reached that ‘obscene point’ where it makes sense to take out some blue tickets?”

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3 Comments on Veteran Trader: ‘Credit Spreads Are All That Matter’

Clock Strikes Midnight On Leveraged Loan Cinderella Story As Outflows Hit New Record

December 21, 2018October 23, 2021

“It’s in the hole!”

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1 Comment on Clock Strikes Midnight On Leveraged Loan Cinderella Story As Outflows Hit New Record

China Tips More Stimulus, But Does Anyone Care?

December 21, 2018

Too little, too late?

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Junk ETFs Stress Tested, Reflation Bled Dry And Other Thoughts As Things Go From Bad To Worse

December 20, 2018December 20, 2018

A visual (and narrative) odyssey.

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oil6 Comments on Junk ETFs Stress Tested, Reflation Bled Dry And Other Thoughts As Things Go From Bad To Worse

Jim Mattis Resigns – The Last Adult In The Trump Administration Is Gone

December 20, 2018October 23, 2021

“…you have the right to have a Secretary of Defense whose views are better aligned with yours.”

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3 Comments on Jim Mattis Resigns – The Last Adult In The Trump Administration Is Gone

‘Suicide From The Ambush’: A Post-Mortem Of Thursday’s Midday Bloodbath On Wall Street

December 20, 2018December 20, 2018

“His presidency represents a rebellion of the hysterical person against his symbolic persona.”

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7 Comments on ‘Suicide From The Ambush’: A Post-Mortem Of Thursday’s Midday Bloodbath On Wall Street

Trump’s ‘Steel Slats’ Crash Market As Brian Kolfage And 77,000 Friends Pledge $5 Million For Wall

December 20, 2018December 20, 2018

Somehow, “surreal” just doesn’t feel adequate.

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3 Comments on Trump’s ‘Steel Slats’ Crash Market As Brian Kolfage And 77,000 Friends Pledge $5 Million For Wall

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Monthly Letter+

  • Lost At Sea

    March 11, 2023March 11, 2023

Week’s News

It’s Not A Wage-Price Spiral. It’s ‘Greedflation’!

March 23, 2023March 23, 2023

Fed Delivers Dovish Hike Amid Bank Crisis

March 22, 2023March 23, 2023

Xi, Putin Revel In Pageantry As Show Of Defiance

March 20, 2023March 22, 2023

The Swiss Killed The CoCos

March 20, 2023March 21, 2023

Book Closes On Credit Suisse After 167 Years

March 19, 2023March 20, 2023

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Monthly Letters

Lost At Sea

March 11, 2023March 11, 2023

Exiles On Main Street

February 4, 2023March 11, 2023

That’s Great, It Starts With An Earthquake

January 22, 2023February 4, 2023

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