What effect will Fed balance sheet normalization have on Treasury yields? That’s quickly becoming something
Author: therealheisenberg
Trump Jr. Tweeted E-Mails Because NY Times Had Him Red-Handed
Well, it looks like the “fake news media” isn’t so “fake” after all. Because those
Stocks Fall, VIX Spikes As Trump Jr. Tweets E-Mail Chain
As Bloomberg notes, markets are on edge “amid headlines that Donald Trump Jr. was told in an email that Russia wanted to aid Trump campaign.”
Look! More FX Shenanigans In China
If you’ve been following along over the past two months, you know China is engaged
Danger, Will Robinson! Emerging Market Bond Funds See Slowest Inflows In 23 Weeks
On Monday, we spent quite a bit of time talking about EM debt funds and
Goldman Commodities Mea Culpa: ‘We Didn’t Understand The Fundamental Rules Of Investing’
“…more importantly, the fundamental rules of commodity investing have been underappreciated both by us and by market participants.”
‘The Question At This Point’ Is Who’s Going To Jail
“From now on, ignore the conventional wisdom about how the Russia scandal is not “resonating†with President Trump’s still-loyal base. The question at this point is what strikes a chord with special counsel Robert S. Mueller III — and what kind of legal jeopardy Trump’s closest associates, including his eldest son and son-in-law, might eventually face.”
One Trader Won’t Tell About The Aliens In His Basement, But He’ll Talk About Price Sensitivity
“Rather, as we ponder the notion of a global regime change in monetary policy, and rates more broadly, it’s a big mistake not to consider that at some point issuers will be fighting to tap into a far more selectively inclined investor base.”
‘Mark It Zero!’: Goldman Says Oil Could Head ‘Below $40’
“Given the recent rebound in net speculative length from its 18-month lows, we believe, however, that a failure for these shifts to materialize soon could push prices below $40/bbl as the market tests OPEC’s and shale’s reaction functions.”
‘They Immediately Bought Dollars’: Traders Get Confused, Drive Yen To March Lows
Well, the overnight session was described as “listless” by at least one Asia-based trader as
Key Calls (Tuesday): Upgrades, Downgrades & Initiations
You need an upgrade.
‘People Are Going To See There’s No Liquidity’: EM ETFs Face ‘Minsky Moment’
As for what’s in store, Hauner warns that once “the big Minsky” moment comes, “people will be sitting on these ETFs and find there’s no liquidity.”
The Problem Isn’t That Trump Knows Nothing, It’s That He Wants To Know Nothing
“To be sure, the Trump presidency’s overt disdain for intellect did not arise in an historical vacuum. Rather, it was made possible by an underlying and longstanding cultural loathing of “mind.” Even in our best universities, where I taught international law for almost half a century (Princeton and Purdue), the headlong abandonment of intellect for commerce has been shameless and undisguised.”
An Anomaly Emerges In Emerging Markets
One fund just lost a quarter of its YTD inflows…
Goldman Is Going To Explain What’s Next For Bonds And You’re Going To Listen
Remember what I wrote last night in “Why We’re Vulnerable: CTAs’ ‘Oversized Loss’ Betrays Extreme
The Greatest Danger To America: The Politicization Of Facts
“The president’s refusal to affirm the intelligence community’s findings pushes that analysis toward the realm of political subjectivity. These data might also reflect Americans’ distrust of institutional authority more broadly—a tendency that pollster Guy Molyneux characterizes as one of the “least appreciated†characteristics of the American electorate.”
Will You Please Listen While One Trader Explains Why He’s Bullish European Stocks (Again)?
“We have most likely shaken out the weak European stock bulls that were buying on the magazine cover news, and are now hopefully ready to resume the steady march higher. Stamp a ticket – I’m back on board the Eurostoxx bandwagon.”
‘They Will Only Act To Avoid A Panic’: BofAML Has A Message For You
“We believe that central banks would be willing to let the markets correct lower and would act only to avoid a panic that could affect the recovery and the inflation outlook.”
Linda Sarsour: ‘I Am Islamophobes Worst Nightmare’
“These ugly threats come from people who also spout anti-Muslim, xenophobic and white-supremacist beliefs. Their sole agenda is to silence and discredit me because I am an effective leader for progress, a Palestinian American and Brooklyn-born Muslim woman. In short, I am their worst nightmare.”
Beware The ‘Froth’: Deutsche Bank Delivers Epic Warning To Investors
“We believe that the financial markets seem to have entered frothy territory (even if not being in a bubble). In the first place, we would never know if this is a bubble until it bursts.”
China’s ‘Nasdaq’ Slides Most Since June 1
File this one away in the “worth noting” folder. Chinese equities were the only red in a sea of green on Monday morning and although the SHCOMP closed only marginally lower, ChiNext (China’s “Nasdaq”), dove nearly 2%.
One Trader Is Already ‘Outraged’ And It’s Only Monday
“I’m also outraged.”
Larry Summers: A Company Would Have Fired Trump For His G20 Behavior
“A company would have replaced a CEO with behaviour as erratic as that of the president.”
Large Block Trade Triggers Bund Rally
Since everyone is laser focused on DM yields and, more specifically, on German bunds and whether we’ll get a repeat of the 2015 bund “tantrum”…
Oil Dives (Again) As Hedge Funds Most Bullish In 3 Weeks
On Sunday evening we wondered if news that Libya and Nigeria may soon be asked
Global Stocks Are Happy. Gold Is Sad. China! I Found Some Inflation In Norway.
Well, I’d say “it’s quiet out there,” but that’s cliché. So how about this: “ain’t
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