There’s a “light at the end of the tunnel.” That’s according to Nomura’s Charlie McElligott,
Author: therealheisenberg
Central Banks ‘Risking A Bear Stearns’ Moment
There was plenty of “Lehman moment” chatter early this week, when an overblown social media
Doves Spotted! Rejoice
Anticipation continued to build for a global policy pivot Tuesday, when the RBA opted for
‘Inevitable’: Fatalism Sets In On Fed’s Date With Doom
It’s probably not wise to make too much of Q4’s earliest price action. Equities were
No, Credit Suisse Isn’t A Lehman Moment
I hesitate to give more airplay to the Credit Suisse “story.” Over the weekend, finance-focused
Goldman Says New Plaza Accord ‘Unlikely.’ For Now
If you ask Goldman, a so-called “Plaza Accord 2.0” isn’t especially likely to come together.
Bad News Is Good News In US Factory Slowdown
The first of this week’s top-tier US data came in short of consensus, which was
Truss, Kwarteng ‘Get It.’ Scrap Tax Cut For UK’s Richest
Over the weekend, as a sort of addendum to “Chaos Will Return To UK Assets,”
‘Danger Zone’ Markets Need Fed To ‘Print Dollars’: Wilson
Last month was especially cruel to equities. September lived up to its nefarious seasonal reputation.
‘Putin Always Chooses Escalation’
Vladimir Putin is facing the very real prospect of defeat in Ukraine. Not just morally
Cross-Asset Crisis ‘Completely Rational,’ Popular Strategist Says
If it feels to you like the tension across markets admits of no readily discernible
Getting The Job(s) Done
The Fed is newly single. Vis-à-vis their mandate. Ironically, the single-minded pursuit of price stability
Yes, Credit Is Probably Cracking
I keep hearing credit “hasn’t cracked yet” despite turmoil in rates, equities and FX. That’s
Chaos Will Return To UK Assets
Admittedly, it feels gratuitous to dwell on the most chaotic week for UK markets since
US Households To Sell $100 Billion In Stocks, Goldman Says
Time and again over the course of what’s destined to be remembered as one of
A Callous, Persistent Bear
It really should’ve been worse. Or, if that’s too strong, we can say that it
Kolanovic Warns On War, Policy Risks
“The most recent increase of geopolitical and monetary policy risks puts our 2022 price targets
Yellen Sanctions Nabiullina Amid Putin’s ‘Forever’ Annexations
Tensions between the West and Vladimir Putin’s Russia ratcheted higher still on Friday, when Janet
Neon Swans, Cash And A Dubious Anniversary
The question is no longer “How long until something breaks?” Something broke this week. It
Breaking News: More Terrible US Inflation Data
The good news is that the bad news was already in the price. Hopefully. Key
(In)credible Cold Turkey Moments
“Markets stop panicking when central banks start panicking.” That’s a familiar refrain. It’s another way
Europe’s Inflation Crisis Spirals Into Double-Digits
In news that’s every bit as disconcerting as it is unsurprising, inflation in the eurozone
Albert Edwards Has A Different View Of UK’s Historic Week
The ongoing crisis in the UK may not be all Liz Truss’s fault. I’m certainly
It Didn’t Last
It didn’t last because it couldn’t. The bid for risk catalyzed by the Bank of
Germany To Borrow €200 Billion For Energy As Inflation Nears 11%
Markets were handed another stunningly dire German inflation outcome on Thursday. The harmonized gauge showed
It’ll All Be Fine. Truss Me.
A renewed sense of angst was evident across markets Thursday, as the respite provided by
Pension Panic Puts Central Banks Back In Intervention Mode
September 28, 2022, was the day central banks were forced back into intervention mode. For
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