“What are the asset pricing implications of what happened on Friday?”
Category: 10Y
It’s Falling Apart: Reflation Trade Shrivels Up And Dies As Markets Sour On Risk
Well, the dollar is under pressure on Monday, just as we said it would be
Mind The Cross-Atlantic “Gaps”: Your Week Ahead Preview
Earlier, we talked a bit about Donald Trump’s waning political capital and the extent to
So You Want An Excuse To Prefer Stocks Over Bonds? Fine, Here’s One
Listen, it’s all about “relative” attractiveness these days when it comes to assessing opportunities at
One Bank Warns: The “Dark Side” Has Reappeared Just As “The Force” Looks Weak
“The dark side – protectionism – reappeared at the G20, just when the force – hope of a bold US fiscal plan – is looking weaker. This has hurt risk sentiment a bit, helping bonds find their feet. We see that as temporary profit taking on crowded trades, rather than a fullblown reversal.”
10Y Treasury Shorts “Aggressively” Cut After Fed Hike, But…
This is important because the latest data is current through Tuesday which means it captures the aftermath of the Fed’s “dovish” hike that sent yields plunging or, more to the point, moved markets against the (very) crowded short Treasury trade.
“Hope”: Health Bill Failure Isn’t Death Knell For Trump Trade, One Bank Says
We’ve said it before and we’ll say it again: one-way bets and crowded trades are
How To Exploit The Passive Herd With One Simple Strategy
If you frequent these pages, you’re well acquainted with the concept of passive investing and its rise
TGIF: Markets Nervous As Trump Dares Congress To Pass Health Care Bill No One Likes
Well, it’s Friday and this week has been just as interesting as last week. Today
“Confusion Reigns” In Markets. So Run The Damn Football
“It’s a grinder’s world. When headwinds are raging and confusion is reigning, three yards and a cloud of dust rather than the flea flicker may indeed have a better chance of racking up points.”
No Vote On Health Care Bill Is Another Blow To Trump Trade
“And like that, it’s gone”…
“Things Are Calm. Too Calm”
As we said earlier, “not a creature was stirring” over night. Or, put differently, “it’s
Trump Trade In Focus: All Eyes On Healthcare Bill As Yellen Lurks In Background
It’s do or die for the reflation narrative.
I’m No Chart Whiz, But About That Whole Reflation Thing…
Reflation frustration?
Stocks Versus Bonds: “Old Normal Vs. New Normal”
Ok so as you think about yields and equities and what to expect going forward
Stock Selloff Goes Global
Investors “needed a good reason to take profit, and here it is.”
“Death By A Thousand Cuts”
“The market didn’t collapse. It went down. In the scheme of life, this is nothing. On the other hand, death by a thousand cuts has to be acknowledged at some point. “
“Equities Blinked”: One Bank Warns “We’ll See More Days Like This”
“It is not yet clear whether this warrants a tactically more defensive stance on credit. But volatility should be higher and we should see more days like this.”
Trader Exclaims: “They Are Making This Up As They Go Along!”
“There’s comfort to lazing in the dark, as long as you can ignore the thought of what a sudden bright light might show is making those scratching noises.”
Euro Jumps To 6-Week High After Lunatic Loses Key Debate
We start Tuesday in Europe in the aftermath of the closely watched presidential debate at
As Treasury Yields Fall, Ask Yourself: How Long Are They Going To Let This Go On?
This seems like a good time to remind you that not everyone is buying the
Is “Tantrum” Risk Rising Behind The Scenes?
So this is something that’s worth watching… We’ve said time and again that investors would
“Politics Vs. Policy”: Deutsche Bank’s Resident Genius Warns Of “Binary Outcomes”
“Depending on the interplay of politics and policy — degree of political resolve and the Fed actions — we could see two distinct paths of resolution of the existing tensions in the mid- or long-run. “
4 Days Later: Previewing The Week Ahead
Well, it’s Sunday which, at last check, means tomorrow will be Monday and that means a
Before And After: About Those “Consensus” Trades
Ever since oil took a dive last week as the market suddenly decided it was time
Presenting The “Real Bubble”
“We see real rates as extremely misvalued if not in a bubble. Real rates are far below (-2pp) levels implied by prevailing GDP growth rates, which have historically provided an anchor.”
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