Markets started the week in “what now?” mode, as traders nervously eyed bond yields for signs that the storm has passed or else that the
Author: therealheisenberg
Don’t Be A Hero Without The Fed
Some were “undaunted” by the second week of losses for US equities, which finally seemed to tire of the steady rise in yields. Actually, that’s
Vigilante Attack And The Lost Labor Market
Traders will stare down a deluge of data and a bevy of Fed speakers in the first week of March, as the market ponders what’s
Yields ‘Emphatically Not’ High Enough To Threaten Stock Valuations: Goldman
For as long as I can remember (which, admittedly, isn’t usually very long given that prior to 2016, I had an expensive Balvenie habit), one
Free Money And What To Do With It
$1,400 stimulus checks are coming. That’s good news for the 10 million Americans who had a job this time last year but don’t have one
Stimulus And The Tyranny Of ‘Practicality’
The House passed Joe Biden’s $1.9 trillion virus relief bill early Saturday. It was not a bipartisan affair. There was no Republican support and two
Bon(d)fire And The Great Wage Debate
US markets calmed down a bit Friday as gloved traders and investors sifted through the smoldering ashes of Thursday’s bon(d)fire. The situation remained far from
Let’s Tell A Risk Parity Ghost Story
The equity rally is the greatest-of-all-time, the V-shaped macro recovery is the greatest-of-all-time, [and] the bond bear market [is] now one of greatest-of-all-time,” BofA’s Michael
The Bond Tantrum Canaries
A while back — and I endeavored to find the relevant articles Friday morning, but gave up after spending an inordinate amount of my espresso/cigar
US Blames Bin Salman For Khashoggi. Will Punish Some Other People
More than two years after dissident journalist and Washington Post columnist Jamal Khashoggi was murdered inside the Saudi consulate in Istanbul, the US is finally
Here’s What Stimulus Did For Incomes In January
Given the backdrop, it was doubtful that market participants were inclined to read too much (if anything) into Friday’s data out of the US, but
In Bond Tantrum, Markets Argue For Their Own Extinction
“So much of the rally in equities was built on easy money,” Bloomberg’s Eddie van der Walt wrote Friday. “Higher rates could be a real
The Story
Coming into Thursday, it was clear that rates were going to be the story. Of course, rising yields have been the story for weeks now,
Spooked Market Turns To ‘Bogus’ Convexity Narrative Amid Bond Rout
The red-hot US housing market (the “giant flaming marshmallow,” as I’ve called it), may be poised for a kind of double whammy. Prices have, of
Coinbase To Go Public With $100 Billion Valuation, No Address
Coinbase is going public in a direct listing. And why wouldn’t it? I’m a simple man (in some ways), so I view the crypto world
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