“We think the timing would be good for investors too to remember to what they owe their improvement in fortunes”…
Category: 10Y
As Bonds Slide, Here’s A Look At The Behind The Scenes Action
Let’s just scan the tape for interesting shit, shall we?…
‘Heavy Selling’ Seen In Treasurys After Block Trade ‘Spooks’ Market
“Another wave of selling was evident after the trade was published, potentially spooking the market.”
Monday, Monday: The Day In Charts
“Can’t trust that day”…
‘Tantrum Risk’ In 2 Charts
Call that “the case of the disappearing diversification.”
Or just call it “rising tantrum risk.”
‘Chances Trump Gets Anything Done Are Nil’: Dollar Sinks To 5-Week Low Against Yen
“The chances of Trump getting any of his campaign promises through in the foreseeable future are almost nil, so the Trump trade is dead for this year, and likely next.”
A Total Return Chart Lesson
“The problem that arises is that most traders look at charts that simply ignore this fact. When a new contract takes over as lead month, they simply flip over to the new contract.”
A ‘Gettin’ Away With Murder’ Type Of Day: Thursday Market Wrap
Thursday was all about people who might have gotten away with murder…
‘Things Are Starting To Reverse’: Goldman Warns On ‘Shock’ Risk
“Risky assets digested the increase in bond yields only reasonably well – 3-month equity/bond yield correlations stayed positive (Exhibit 3) and credit spreads buffered part of the increases (Exhibit 4). But correlations are starting to reverse.”
Stocks Touch Record Highs: Full Wednesday Visual Recap
“So much winning, you’re going to get tired of winning”…
‘Netflix & Chill’ – Full Visual Tour Of Tuesday’s Market Action
Netflix, Goldman, “own dick eating,” a failed healthcare bill, dollar doldrums, and so much more…
Dollar Gloom: Key Technical Level Breached, Yields Dive
Well, the dollar just can’t catch a break.
Risk-On Still Intact As Entire World Ignores China Stock Plunge: Full Visual Recap
All told, the mood remains “risk-on.”
‘Billions And Billions And Billions’: ECB, BoJ, And Your Full Week Ahead Preview
If you didn’t get your fill of hand-wringing over DM central banks last week, then you’re in luck…
‘They’re Still Extremely Leveraged’: ‘Crowded Unwind’ By CTAs Could Exacerbate A Rates Selloff
“However, a large beta of CTA returns to the Bloomberg Treasuries Index suggests that CTA positions are still extremely leveraged”…
Deutsche Bank: ‘The Limit Is Near’
“This episode provides a good example of just how difficult the eventual path to policy normalization is going to be.”
Stocks Fly To Records, Global Risk Rally Continues As Bad Data, ‘Good’ Yellen Keep Hope Alive
The message is loud and fucking clear: the vol. seller’s/ carry trader’s paradise and the risk party that’s made every homegamer with some SPY and QQQ look like a guru for the past eight years depends on DM central bankers staying some modicum of dovish. And on that score, bad data helps.
‘Yellen Is Not A Bubble Popper’: One Bank Is Sick Of ‘This Narrative’
“But it is not true that the Fed is hiking to address vulnerabilities in the financial system or “pop†asset bubbles.”
Dollar, Yields Dive After CPI Disappoints
Ok, well the biggest econ print of the week is in and it’s a miss.
Trader: ‘Everyone Is Wrong But Me’
“And now? Dovish Fed speak, wavering ECB leaks, resolute BOJ actions, completely mixed emotions from the BOE and suddenly it doesn’t feel nearly as fun.”
Dow Closes At Record High – So Does Central Banker Confusion
So yeah, another day, another largely fruitless effort to figure out what exactly the message
Did Mario Draghi And The Wall Street Journal Just Engineer A Bond Selloff?
These fuckers are quite literally trying to engineer a Thursday bond sell off before our very eyes and the idea seems to be that they can do it without risking any concurrent weakness in equities because no one will want to sell with Yellen still talking.
Trader: ‘Conspiracy Theories’ Only Work If Everyone Sticks To The Script
“But they seem to cling to the notion that they must do so without any knock-on effects to the broader category of assets. They do so love the calming sounds from the trickle-down effect.”
Stocks Surge On ‘Good Cop’ Yellen; Trader Makes ‘Unprecedented’ $10 Million Bond Bet
Well, the message from Yellen was heard loud and clear and amusingly, so was the
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