The worst rout in global government bonds since 1949 rolled on Monday, as US yields surged again amid chaos in UK assets. Another sizable selloff
Author: therealheisenberg
BoE Tempts Traders With Boilerplate Bailey Statement
The Bank of England on Monday did precisely what you don’t want to do in a crisis: Speak up without demonstrating the necessary conviction. It’s
‘Plaza Moment’ Pondered As Dollar Makes ‘Everything An Emerging Market’
Market chatter around the prospect of a global accord aimed at halting the dollar’s inexorable run higher grew louder Monday, as the pound collapsed and
UK Financial Crisis: Analysts Weigh In On ‘Calamity’
I doubt I was alone Monday in scouring the thesaurus for adjectives sufficient to convey the gravity of the crisis suddenly engulfing the UK. The
Carnage: Pound, Gilts Suffer Total Meltdown
Carnage. That’s the best one-word description of the market revolt unleashed by Liz Truss and her Chancellor of the Exchequer, Kwasi Kwarteng, who, during ill-advised
The Usual Bearish Suspects
Among the responses to “Apocalypse Soon” was a reference to the “usual bearish suspects.” We all have our ideas about who belongs in that lineup.
Like March 2020. But Without A Backstop
Markets can look forward to incessant Fed banter in the new week. And I do mean incessant. On deck, in order of appearance, are Collins,
Runaway Inflation In Europe: Does The ECB Even Matter?
In addition to a cacophony of policymaker soundbites, traders will be compelled to grapple with what could be a double-digit inflation print out of Europe
Pressing Shorts To Save The World
A key consideration when you ponder the prospect of a global financial meltdown, is the notion that market participants actually want to push things in
Apocalypse Soon: The Fed Is Risking A Global Financial Crisis
How many times have I talked about a “breaking point” for markets in September? A lot. The answer to that question is “a lot.” In
Truss Plan Pushes UK To Edge Of Crisis
“Casino economics” that will “end in tears” with a possible run on the pound. That’s a spliced together assessment of Liz Truss’s hotly anticipated economic
The Wrecking Ball
Currently, data which suggests the US economy is picking up momentum (as opposed to losing it) is bad news. Yes, recession fears are rampant, which
Europe Set For Bear Market, Recession As Money ‘Pours Out’
Risk assets were in trouble Friday, as European shares careened lower amid poor data, war worries and panic over the UK’s finances. Preliminary PMIs for
Goldman Takes Axe To House S&P Call
In a high profile, if not wholly unexpected, call, Goldman slashed its year-end S&P 500 target by 16%, blaming the trajectory of rates. Last month,
What If It All Comes Apart?
Considering markets as we’ve come to know them over the past decade (or three) were built on a set of assumptions which no longer hold,
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