‘Tell That To Rain Man’

“Either way, you gotta be super smart to run a country and sell vol. buddy, okay? It’s not easy.”


Trader: My Glass Is Half Full So Don’t Ruin It For Me, Ok?

“And yet, I almost feel like I’m being an iconoclast by choosing to take a sip from a glass half full.”

What The Heck Is Goin’ On?

“The truth of the matter is that the market doesn’t know how to interpret the Fed.”

1 Million.

“It’s not crazy”…

La, La, La.

Finally, in case you haven’t had enough of “connecting the dots” today, here’s another exercise for you…

Dollar, Yields Rise While Stocks, Gold Dip On ‘Hawkish’ Fed

The Fed still sees another hike in 2017, perhaps proving that they are in fact leaning in the direction of looking through subdued inflation in the interest of safeguarding financial stability. 

Two Hundred And Seventeen Years.

Wouldn’t it be super-fun if someone looked at bonds and equities from 15 DM countries going back 217 years and then made an equally weighted index to find out how expensive things really are versus history? 

‘Run, Forrest. Run.’

“… the bears could catch up into year-end.”

Apocalypse Now (Again).

Well for those who had their doom bunkers all prepped and ready, there’s “good” news on Tuesday – the apocalypse is back on.

What’s The Most Expensive Asset This Week?

Paging 2 Chainz…

Watching Paint Dry. Illogically.

As one reader put it earlier today, “is just being open for trading” a good enough reason for stocks to rally? 

‘Chickens Wanted For Epic Showdown’: Rates Vol., Gamma Are Too Cheap!

“…game theory suggests that the North Korean leadership has a strong incentive to bring forward the final phase of the Game of Chicken.”

You May Have Had A Better Week Than Some Quants

…it’s fair to ask if maybe the CTA crowd had a bad week. Because long Treasurys and short USD wasn’t exactly how one would have wanted to be positioned ahead of the “no apocalypse” risk rally that saw 10Y yields rip 18bps higher off the previous Friday’s lows while the dollar put in one of its best five-day stretches of 2017.


This time last week, everyone thought we’d all seen our last Friday.

Them’s Fightin’ Words.

There’s tension in the air.