“Most participants judged that if economic information came in about in line with their expectations, it would soon be appropriate for the Committee to take another step in removing some policy accommodation. A number of participants pointed out that clarification of prospective fiscal and other policy changes would remove one source of uncertainty for the economic outlook.”
Author: therealheisenberg
Don’t Forget That Iron Ore Crashed Last Night…
So last night Moody’s downgraded China for the first time since 1989. China was pissed.
The Ugly Truth About ETFs Is Revealed (In A Footnote)
“[This assumes] the ETF secondary market remains balanced between buyers and sellers. this higher liquidity profile of ETF assumes secondary market liquidity does not disappear, which may be the case in theory during a sell-off or a one-way market. In these instances, the client (sale) order execution would require tapping underlying market liquidity. ETF liquidity would then just be the same as that of the underlying assets. If these underlying exposures are not liquid, ETFs would be not liquid either.”
Goldman Pukes All Over Trump Budget; Clinton Calls It “Unimaginably Cruel”
“In general, the President’s Budget is a political document more than a working fiscal proposal.”
You Hate That Giant Equity Position Right? Well Hedge It With Bonds And “Hope To Lose Money”
“People love the Plunge Protection Team conspiracy theory when looking at equities. Well that’s exactly what is happening in bonds, right out in the open.”
“Equities Are The New HY” – “Weep” Now Or Forever Hold Your Peace
“Equities for yield, bonds for capital appreciation.”
“It’s All About Optics”: For OPEC, 6 Months Ain’t Gonna Cut It
“After Khalid Al-Falih’s comments over the weekend that “We think we have everybody on board†and “Everybody I’ve talked to indicated that nine months was a wise decision†It would appear that a 6-month extension would be a backtracking of sorts.”
Chinese Stocks Stage Hilarious Comeback After “Absolutely Groundless” Moody’s Downgrade
It’s all fun and games until someone gets downgraded. So last night, Moody’s handed China
Goldman: Here’s Which Credits Are At Risk From Moody’s China Downgrade
So obviously China isn’t loving the Moody’s downgrade, which the Ministry Of Finance hilariously called
Key Calls (Wednesday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
Dangerous Dynamics
“China and its growing herd of commodity traders and financial exchanges are clearly having greater influence on world commodity pricing.”
Moody’s Downgrades China; Aussie, Yuan Slip
China Cut to A1 From Aa3 by Moody’s, Outlook to Stable
Goldman Epiphany: Stocks, Junk Perform Worse When Econ Slowdown Dead Ends In Recession
So Goldman has something new out on Tuesday about ISM peaks and what generally happens
Tuesday Satire: “Ok Google, When Is It Safe To Turn On Trump?”
“I think it’s important for people to know that important things are, in fact, getting done, and setting this Google News alert is one of those things.”
Cramer Apologizes To Poland For Comparing Nazi Fight To Macy’s
“The Polish army fought gallantly against all odds. Along and outgunned, Poland mustered every unit it could to defend against the attack.”
How The ECB “Actively” Rescued Markets Ahead Of The French Election
“But the ECB is more than just a “passive acquirer†of assets, in our view. We think they are taking an active role in bond buying to manage the fallout from policy uncertainty (and prevent a tightening in credit conditions that would ensue if they didn’t).”
Guest Post: A Bearish Positive Carry Trade
“This has long been one of my favourite trades, and even though it has moved my way, I am not taking any off. In fact, now that it is working, I probably should be adding…”
Constitutional Crises Are For “Day-Trading Gladiators”
Well, Cameron Crise is out with his latest daily missive and methinks he’s falling into
The 12 Labors Of Nassim: Taleb “Plants ~300 Trees” En Route To Phoenician Exile
When last we checked in on our hero Nassim Taleb, he was gracing SALT with
One Trader Is Disgusted That You Bought The Terrorist Dip
“I thought the market reaction to the bombing in Manchester was appalling. And an indictment of a system that rewards, time and again, through official reaction functions, utter callousness and obliviousness to events. Everything may have become a buy-the-dip opportunity. But it shouldn’t be. It’s why nothing ever changes.”
Video: Trump Tells Israelis He “Just Got Back From Mideast”
You’d be forgiven for being in a shitty mood on Tuesday morning. After all, someone
Storm Clouds Gather As Trump Headline Risk, Terror Attack Battle Econ Data For Market’s Heart
Well, this market’s mettle is being tested. Again. On Monday evening we got what might
Here Is The Only Bullish Argument For Stocks That Matters
“They can’t profitably have it both ways. Either central banks have not changed the game and the bearish historical models will work, or central banks have altered market dynamics, in which there’s no point referencing rules to the old game as an excuse to sell.”
Key Calls (Tuesday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
Feed Your “VIX-ation” – Rocky’s Back To Answer All Your VIX Questions
Market participants are suffering from (or maybe “relishing in” is better) a veritable “VIX-ation.” Why
Yen Jumps As WaPo Trump Story, Concert Explosion Trigger Risk-Off Move
We’re seeing a flight-to-safety bid amid suggestions that Donald Trump might have tried to rope two top
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