Risk on.
Category: 10Y
CPI Misses As Investors Get Possible Reprieve From Inflation Jitters
Do you feel better?
‘It All Makes Sense When You Look At It Right’: The Dollar, Yields, Oil And The EM Bloodbath
“…you gotta like, stand back from it, you know”.
The Day After.
One day on…
10Y Yields Are Back Above 3% And Oil Is Surging – What Happens Next?
10Y yields rose above 3% again overnight, so I guess Jamie Dimon is getting closer to being “right” all the time.
Hold My Beer While I Poke This Hornet’s Nest.
Well, he did it.
Goldman Says Overweight Cash As Ray Dalio’s ‘Pretty Stupid’ Cash Holders Still Looking ‘Pretty Smart’
There is suddenly an alternative.
Problems Are Emerging.
Who said EM meltdown?
Pushing Against The Big Wave
“And if the money velocity stops declining, and god forbid, even increases, what will happen to the mountain of monetary stimulus that has been administered over the past decade?”
Should You Buy The Banks Like, Right Now? Yes! No. I Don’t Know, Maybe!
Clients just want to know when the damn recession is coming, ok?
One Trader Ponders The Outlook For Gold
“…what is driving gold more at this point of the cycle? Is it the US dollar, or real yields? Has gold disappointedly not risen as high as the bulls would like given the US dollar weakness? Or has gold not declined nearly as much as the bears would have expected given the run-up in real yields?”
In The Meantime.
And that’s the week.
Riders On The Storm(y).
Turn on your wipers.
‘Bonds, Bonds, Everywhere!’
“At what price?”
‘Encouraging Things’.
Things no one knows about.
Spaced Out.
Phone home.
Take Note: ‘This Will Have Profound Implications For Everything The USD Touches’
Are you short the dollar (implicitly or explicitly)?
Steve Mnuchin Isn’t Worried About The Bond Market, Ok? So You Can Stop Asking Him, Please And Thanks.
Mnuchin isn’t worried about the supply/demand dynamics in the Treasury market despite knowing full well who is Treasury Secretary.
Bombs Away.
War? Let’s hope so! Happy Monday!
Follow The (Convexity) Flows: Restriking Of The Fed Put Revisited
“In that environment, convexity withdrawal creates a reinforcing loop where more turbulence in risk assets tends to cause stability in fixed income.”
‘America First’: Full Week Ahead Preview
Ok, well all eyes will be on the U.S. in the week ahead.
Why Goldman Thinks The Fed Isn’t Even Halfway There
“And there is still little evidence that the committee is close to the halfway mark from this perspective.”
Former Lehman Trader Weighs In On The Issues As Investors Ponder An Uncertain Future
“I think we are just in the middle of a correction. And I think, overall, the structural story is still pretty positive. But this is a correction that may not be over yet.”
Why This Is ‘A More Painful Rate Shock’
Listen, you people are concerned about 10Y yields, and that’s fine. After all, we blew threw the February highs this week on the way to the “dreaded” 3% “pain threshold” and while there were no swarms of locusts and no Pazuzu sightings (that I’m aware of), there are still concerns that the higher we go, the closer we get to a situation characterized by “diversification desperation” or, more simply, a scenario where bonds and stocks selloff in tandem.
Nasty Places.
We gotta get out of this place.
Keep. It. Together.
K.I.T.
No Tapestries For This Market.
“Dear me, the man is dense, is he not? This is a castle isn’t it? There are tapestries here?”
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