US lawmakers on Thursday sought to reassure a nervous nation. For two centuries, America has
Category: bonds
Perfect Storm
It wouldn’t be a stretch to say that things “fell apart” on Monday for US
Tragically Apt
US equities struggled Friday as the Trump administration introduced fresh uncertainty into an already fraught
Jerome Powell Can’t Find Duration Bubble He Saw Eight Years Ago
As regular readers are aware, I’m generally loath to devote too much energy to lampooning
‘The Vaccine’s The Thing’ For Bond Yields, Elusive Stock Rotation
“The vaccine’s the thing”, writes BofA’s Michael Hartnett, describing what respondents to the bank’s monthly
‘We Disagree With Every Element Of This Narrative’: Why One Bank Doubts A Consensus Bond Trade
Lost in the fog of “whale tales” and superseded in the news cycle by the
A Badly Needed ‘Crash’
Lost in a truly egregious rout for US equities on Thursday was news that Steve
Bridgewater ‘Tweaks’ Risk Parity Model, Moves Into Gold As Bonds Get More Risky
“Is risk parity dead?” probably isn’t the right question. In the same vein, “the end
Steeped In It
Another day, another record high for US equities. The S&P rose a seventh straight day
Max Dovish
“Stocks rise, yield curve steepens” was the five-word summary for Thursday’s action in US equities
‘Extremely Highly Confident’
“We intend for this package of tariff reductions to mark just the beginning of a
Fed Didn’t ‘Exacerbate Moral Hazard’ With Treasury Market ‘Intervention’, Fed Finds
By The New York Fed (via Liberty Street Economics) In response to disorderly market conditions
‘What’s Not There’
The problem with the July Fed minutes is “what’s not there”, one rates trader said
While Rome Burned
Under heavy political fire, postmaster general (and Trump donor) Louis DeJoy promised on Tuesday to
‘Two Weeks Of Calm’ And What’s Next For Stocks, Bonds, And Gold
The last two weeks of August will likely witness stabilization in the US rates space
Foreigners Were Buying US Debt Again In June As Apocalypse Abated
Foreign holdings of US Treasurys rose a second month in June, TIC data out Monday
Gamma Drop-Off And Rates Back-Up (A Pair Of Risks. Maybe.)
If you’re searching for a reason to fret about US equities perched at record highs
‘This Is Uncharted Territory’: Wall Street Weighs Prospect Of Contested Election Outcome
“The items are the post office and the $3.5 billion for mail-in voting”, Donald Trump
Ride Of The Valkyries (Endangered Species)
“Now I can’t stop humming Ride Of The Valkyries, while imagining bond vigilante helicopter gun-ships laying
Five On It
Make it five. Treasury yields rose a fifth session Thursday after the closely-watched 30-year sale
Where’s The Rent Deflation?, Albert Edwards Asks The Bureau Of Labor Statistics
One of the many explanations rolled out when explaining the monumental ~54% surge in US
Resurrection
The pro-cyclical nature of the action in US equities witnessed over the past several sessions
Coal Mine Canary? CTAs Flip Short Bunds During ‘Heck Of A Week For Pain Trades,’ McElligott Says
Tuesday was potentially important. I tried to drive that home after the dust had settled
Desperation
A dearth of flashy headlines obscured an otherwise interesting session in the US on Tuesday,
The Bond Market Sent Out A Warning Late Last Week. Was Anyone Listening?
The market delivered a warning to gold bulls, big-cap tech investors, and dollar bears on
Tech Wars, Great Debasements, And A $2.4 Trillion ‘Non-Starter’
A July jobs report billed ahead of time as a potential game-changer for a market
‘That’s A Record’: US Terms Out Massive Financing Need With Scope Of New Stimulus Uncertain
The US announced a record $112 billion quarterly refunding on Wednesday, a total that eclipsed
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