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Author: therealheisenberg

Is Negative Convexity Risk ‘Flashing Red’?

May 9, 2019May 9, 2019

Spoiler alert: “Not yet”.

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4 Comments on Is Negative Convexity Risk ‘Flashing Red’?

‘Me, This Donald Trump’ Got A Wee Bit Off Track On Thursday While Discussing ‘Medical Billing’

May 9, 2019May 10, 2019

At least he covered a lot of ground.

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4 Comments on ‘Me, This Donald Trump’ Got A Wee Bit Off Track On Thursday While Discussing ‘Medical Billing’

With Stocks In Free Fall, Turkey’s Monetary Policy Descends Into Farce

May 9, 2019November 6, 2021

Soft, rubber mallets.

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Tensions on The Front Burner – Full-Flame

May 9, 2019May 9, 2019

At least Bitcoin is doing well.

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Broken Deals And Shattered Rally Dreams

May 9, 2019May 9, 2019

There’s an “art” to this.

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4 Comments on Broken Deals And Shattered Rally Dreams

This Looks Like Another Record Year For Bond Defaults In China…

May 8, 2019

No time for complacency.

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Thanks, Jerry, But This ‘Constitutional Crisis’ Started A Long Time Ago

May 8, 2019May 9, 2019

Who’s really cynical, mean-spirited and irresponsible here?

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6 Comments on Thanks, Jerry, But This ‘Constitutional Crisis’ Started A Long Time Ago

Trading Trade And A ‘Spiral Away From Equilibrium’

May 8, 2019

“What if markets do not understand how policymakers will respond?”

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1 Comment on Trading Trade And A ‘Spiral Away From Equilibrium’

Trump Very ‘Tired Of Winning’ On Mueller Report, So He’ll Assert Executive Privilege To Avoid Exhaustion

May 8, 2019October 13, 2021

It’s good to be king.

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1 Comment on Trump Very ‘Tired Of Winning’ On Mueller Report, So He’ll Assert Executive Privilege To Avoid Exhaustion

Nomura’s McElligott On VVIX, More Mechanical De-Risking And ‘Pure Minsky’

May 8, 2019May 8, 2019

“If you’re short vol, you make money…but eventually die.  But if you’re long vol, you die before you make money.”

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More Questions Than Answers In Latest Chinese Trade Data

May 8, 2019

If you’re looking for clarity on China’s economy from the April trade data, you can look elsewhere. 

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‘The Real Surprise Is That It Took Trump Until Sunday To Blow Up’: Trade Outlook Sours Further As Details Of Rift Emerge

May 8, 2019May 8, 2019

Slowly but surely, a more complete picture is emerging of what went wrong between the US and China.

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4 Comments on ‘The Real Surprise Is That It Took Trump Until Sunday To Blow Up’: Trade Outlook Sours Further As Details Of Rift Emerge

‘You’ve Reached Jay Powell, I’m Unavailable Right Now, Please Leave A Message’…

May 7, 2019

…straight to voicemail.

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Nomura’s McElligott ‘Rubbernecks’ Tuesday’s Crash, Says ‘Flow Risk’ Is Materializing

May 7, 2019May 7, 2019

“It currently looks as if as we are seeing this supply ‘tip’ into realization”.

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2 Comments on Nomura’s McElligott ‘Rubbernecks’ Tuesday’s Crash, Says ‘Flow Risk’ Is Materializing

Jeff Gundlach Delivers Surprisingly Cogent CNBC Interview, Calls Out Fed, Trump Administration

May 7, 2019May 7, 2019

“We’re numb to that because of social media.”

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3 Comments on Jeff Gundlach Delivers Surprisingly Cogent CNBC Interview, Calls Out Fed, Trump Administration

‘Shut Up And Get To Work’: The World Is Underestimating Matteo Salvini

May 7, 2019November 6, 2021

“That’s the final warning.”

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Vice Chair Clarida Isn’t Sure You’re Getting The Message

May 7, 2019May 7, 2019

Any perceived recalcitrance will be met with jeers.

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3 Comments on Vice Chair Clarida Isn’t Sure You’re Getting The Message

Burnt Turkey.

May 7, 2019

“Whatever we did to the terrorists threatening our borders, we will do the same” to economic saboteurs.

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Watching, Waiting

May 7, 2019May 7, 2019

Minutes to midnight (Friday).

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Steve Mnuchin Agrees To Fall On Tax Return Grenade For Trump

May 6, 2019May 7, 2019

“…what’s unprecedented is this Secretary refusing to comply with our lawful, Article I request”.

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4 Comments on Steve Mnuchin Agrees To Fall On Tax Return Grenade For Trump

Anarchy Reigns: After Stunning Reversal, Markets Blindsided Again By New Tariff Headlines

May 6, 2019May 6, 2019

Don’t call it a comeback – no, really, don’t.

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3 Comments on Anarchy Reigns: After Stunning Reversal, Markets Blindsided Again By New Tariff Headlines

Surprise! Erdogan Nullifies Istanbul Vote – Cue Incredulous EM Watchers

May 6, 2019

If you didn’t see this coming, you have nobody to blame but yourself.

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2 Comments on Surprise! Erdogan Nullifies Istanbul Vote – Cue Incredulous EM Watchers

The Best-Laid Plans: Wall Street Weighs What Could Go Wrong With Trump’s China Gamble

May 6, 2019May 6, 2019

“While that may well be the plan”…

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1 Comment on The Best-Laid Plans: Wall Street Weighs What Could Go Wrong With Trump’s China Gamble

Goldman Doubles Odds Of Auto Tariffs, Calls Trump’s Trade Tantrum ‘Significant Shift’

May 6, 2019May 6, 2019

“This development has incrementally negative implications for the outlook.”

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2 Comments on Goldman Doubles Odds Of Auto Tariffs, Calls Trump’s Trade Tantrum ‘Significant Shift’

As VIX Spikes, Trump Says ‘Sorry’, Not Sorry

May 6, 2019November 6, 2021

“…we’re not going to be doing that anymore!”

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2 Comments on As VIX Spikes, Trump Says ‘Sorry’, Not Sorry

China’s Monday Meltdown In Pictures

May 6, 2019May 6, 2019

“Rough day” doesn’t quite capture it.

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4 Comments on China’s Monday Meltdown In Pictures

China Considers Canceling Trade Talks, Yuan Dives, PBoC Announces Targeted RRR Cut

May 5, 2019May 5, 2019

On the “bright” side…

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