Things no one knows about.
Category: bonds
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.
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.
Trader Breaks Down Big League Transatlantic Bond Trade
“Never forget that Shooter blew a 4 stroke lead on the back nine.”
‘Dragon Energy’.
That’s one “very cool” holding pattern.
Here’s Why There May Be Rainy Days Ahead For A Popular Hedge Fund Strategy
“The strategy almost looks foolproof on paper.  Yet like most things in the markets, nothing lasts forever.”
Two Reasons To Doubt The Narrative On Yields And Stocks
…have you run out of ways to communicate that you think the hysteria might be overdone while simultaneously ensuring that in your zeal to make fun of everyone else, you hedge your language enough that in the event the locusts actually do come, you can retain some credibility?Â
Pins And Needles.
Mood.
Terrible Tuesday.
That didn’t go so well.
It’s Time To Talk About Petrodollar Flows
If you do the math there, that means that in the space of just two years, there was a ~$400 billion decline in reserve accumulation from oil exporters. That’s “QT” – depending of course on what they’re accumulating.
David Stockman Weighs In On 10Y Yields At 3%
“In a word, honest bond yields will knock the stuffings out of the mainstream fairy tale that passes for economic and financial reality.”
Bad Things Come In 3s.
This was just the kind of day that makes you dread the rest of the week.
All Eyez On 3
The selloff in the long end late last week and accompanying steepening has everyone squarely focused on that oh so scary round number again and yields ticked up a bit more overnight, ensuring that your coworkers will be forced to begrudgingly try and come up with some new factoid about 3% so they can impress their colleagues.Â
Around The World In 1,200 Words: Full Week Ahead Preview
As usual, lots on the docket.
Strategery.
Aaaand that’s the week, folks.
A Bit Of Confusion.
Well, that was interesting.
Breaking The Bank.
Beleaguered banks, commodities on the come up, golf, the usual…
Trader: There Is No Better Signal Than This
“Don’t bother arguing with the hard-money gurus about the correct policy course. Just watch the yield curve. The market is smarter than all of us.”
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