Blame the virus, blame lockdowns in Europe, blame positioning, or blame your favorite election narrative.
Author: therealheisenberg
Difficult Days And Demands Of The People
“As the nation did after Memorial Day, we are [facing] another critical point in the
Nomura’s McElligott Weighs In On Wednesday’s ‘Bonkers Freakout’
Selling begets selling into an illiquid market facilitating a vicious downward spiral. It’s a familiar
Fed Is ‘Really’ Out Of Firepower. ‘Only Government Spending’ Can Save Country, Bill Dudley Warns
“If the Fed managed to push that down by another 0.5 percentage point, what difference
This May Be The Biggest Long-Term Risk For Stocks And The Economy
On Tuesday, I talked a bit out the possible disinflationary read-through in the event the
Coughs And Coffins
The mood turned dour indeed on Wednesday, as hand-wringing tied to new virus lockdowns in
What Matters
Markets are plagued (figuratively and literally) with ominous headlines around a second COVID wave. France
‘What If He Does It Again?’ Hedging An ‘Unthinkable’ Trump Victory
Earlier this month, in “‘So Many Things Could Go Wrong’,” I talked briefly about the
Confidence, Core Competencies, And CAT Naps
Are the “fundamentals” sound? The answer on Tuesday was: “It’s complicated.” Durable goods orders beat,
From ‘Chaos’ To ‘Blue Wave Mania’: Nomura’s McElligott On Election ‘Narrative Overshoots’
Observing the evolution of the election narrative through the market’s beer goggles has been quite
China Has Seen Enough Yuan Strength, Apparently
Beijing has apparently seen enough yuan appreciation for the time being. Just hours after Guan
Eating Out In Germany & Drinking Water On The Moon
Lockdown worries continued to plague market psychology Tuesday, or at least as it relates to
Herd Immunity
Monday was a dark day on Wall Street. That may be a bit hyperbolic, but
Bitcoin Is Nothing
I always hesitate before putting digital pen to digital page if the subject is Bitcoin.
Diminishing Returns And Fears Of The Unacceptable
“Delicate” was an appropriate adjective on Monday when it came to describing the prevailing mood
Turkey On Brink Of Full-Blown Currency Crisis Amid Epic Erdogan Belligerence
The Turkish lira came into the week besieged. And by that, I mean it’s riding
Boeing Lands In Xi’s Crosshairs As Taiwan Spat Nears Boiling Point
On a day when ominous headlines around new COVID-19 restrictions in Europe were front and
It’s Falling Apart: SAP Collapses On Virus Warning As Europe Stares Into Abyss
A hodgepodge of unwelcome developments undercut risk sentiment as the new week dawned, with the
Watching, Waiting, Hoping
Traders are staring down a data-heavy week ahead of Election Day in the US, as
New White House Outbreak Undermines Trump Message In Final Week Of Campaign
Marc Short, Mike Pence’s chief of staff, tested positive for coronavirus on Saturday. The news
No, A Capital Gains Tax Hike Under Biden Won’t Be The End Of The World, Goldman Says
A couple of weeks back, JPMorgan’s Nikolaos Panigirtzoglou weighed in on the possible ramifications for
Analysis Versus Propaganda: Whose ‘Plan’ Is Really Better For The World’s Largest Economy?
During the second (and, mercifully, the last) US presidential debate, Donald Trump delivered a characteristically
Stephanie Kelton Explains Taxes, Debunks National Debt Myth, Talks Dollar Depreciation
Stephanie Kelton needs no introduction. The face of Modern Monetary Theory in a world suddenly
Dollars, Stalemates, And Magic Lines
The week started with a deadline and ended with finger pointing. “We could do that
Meanwhile, In Good News…
And now, for some good news. Business activity in the US is proceeding at the
Double-Dip Recession Risks Becoming Base Case For Europe As Virus Spreads Anew
About that European recovery. It’s in serious doubt. And there’s no mystery around why. As
Nomura’s McElligott On October As The Anti-Status Quo And The ‘New’ Election Tail Risk
October’s action in rates and associated thematic expressions in equities represent a “reversal” of the
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