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Category: bonds

Why Some Stock Bulls Are Excited About Yield-Curve Control

June 19, 2020

“While it’s impossible to isolate the impact, bulls note…”

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2 Comments on Why Some Stock Bulls Are Excited About Yield-Curve Control

Foreign Treasury Pile Dropped To Four-Month Low In April After March’s Epic Chaos

June 15, 2020

The decline in foreign holdings is set against a backdrop of ballooning supply, but…

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3 Comments on Foreign Treasury Pile Dropped To Four-Month Low In April After March’s Epic Chaos

The Problem With Bonds, According To Morgan Stanley

June 9, 2020June 9, 2020

It’s actually problems – plural.

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3 Comments on The Problem With Bonds, According To Morgan Stanley

‘Death By 1,000 Axe Wounds’: CTAs Poised To Pile On As Bond Selloff ‘Goes Live,’ Nomura’s McElligott Says

June 8, 2020June 8, 2020

Legacy long position in US rates and duration enters “a very dangerous space”.

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2 Comments on ‘Death By 1,000 Axe Wounds’: CTAs Poised To Pile On As Bond Selloff ‘Goes Live,’ Nomura’s McElligott Says

Rethinking The Narrative

June 7, 2020June 8, 2020

Who’s buying the “V-shaped” story?

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15 Comments on Rethinking The Narrative

What’s Really Behind A Steeper US Yield Curve?

June 6, 2020June 6, 2020

And what comes next?

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5 Comments on What’s Really Behind A Steeper US Yield Curve?

‘It’s All About The Future’ (Here Comes The Pain Trade)

June 5, 2020

Famous last words?

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6 Comments on ‘It’s All About The Future’ (Here Comes The Pain Trade)

2018 Flashbacks And Upside Down Bond Market Dynamics

June 1, 2020June 1, 2020

“We hold the opposite view”.

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1 Comment on 2018 Flashbacks And Upside Down Bond Market Dynamics

The Only Debate That Matters.

May 23, 2020May 23, 2020

The long version.

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14 Comments on The Only Debate That Matters.

Here’s A Thought: What If (Almost) Everybody Is Wrong?

May 18, 2020May 19, 2020

“This would be perhaps the biggest surprise to markets.”

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8 Comments on Here’s A Thought: What If (Almost) Everybody Is Wrong?

Morgan’s Mike Wilson On The Rally: This Looks Like 2009 With ‘One Major Outlier’

May 18, 2020May 18, 2020

With financial repression alive and well, “it really isn’t different this time”.

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4 Comments on Morgan’s Mike Wilson On The Rally: This Looks Like 2009 With ‘One Major Outlier’

Administered Markets: The Ultimate Manifestation Of ‘Don’t Fight The Fed’

May 16, 2020May 16, 2020

We’re not all the way down the road to 100% administered markets, but the crisis has accelerated our journey.

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6 Comments on Administered Markets: The Ultimate Manifestation Of ‘Don’t Fight The Fed’

Market Prices In Negative Rates For US. Media, Blogs, Finance Twitter Lose Collective Mind

May 7, 2020May 7, 2020

You can’t go wrong with “negative rates are coming to America”.

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2 Comments on Market Prices In Negative Rates For US. Media, Blogs, Finance Twitter Lose Collective Mind

Nomura’s McElligott: Don’t Mistake Curve Steepening For Something It’s Not

May 7, 2020May 7, 2020

“Cash crunch issuance realities.”

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5 Comments on Nomura’s McElligott: Don’t Mistake Curve Steepening For Something It’s Not

China Will Pay For Virus, Kudlow Warns. Swears America Won’t Intentionally Default On ‘Sacrosanct’ Debt

May 1, 2020

“Full faith and credit of the United States’ debt obligation is sacrosanct”.

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4 Comments on China Will Pay For Virus, Kudlow Warns. Swears America Won’t Intentionally Default On ‘Sacrosanct’ Debt

How Many Trillions Equals Negative 1? (And 100-Year Floods That Happen All The Time)

April 28, 2020

Don’t forget the lessons from March.

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15 Comments on How Many Trillions Equals Negative 1? (And 100-Year Floods That Happen All The Time)

As Fed Cuts Bond Buying With Balance Sheet Near $7 Trillion, Some See ‘Unqualified Good News’

April 24, 2020

Signs of stress are abating. For now, anyway.

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8 Comments on As Fed Cuts Bond Buying With Balance Sheet Near $7 Trillion, Some See ‘Unqualified Good News’

Albert Edwards: ‘Ludicrous’ To Assume Central Bank Liquidity Is ‘Compelled’ To Boost Stocks

April 23, 2020April 23, 2020

“Liquidity will flow into whatever momentum trade emerges as the winner.”

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6 Comments on Albert Edwards: ‘Ludicrous’ To Assume Central Bank Liquidity Is ‘Compelled’ To Boost Stocks

Deutsche’s Kocic: The Last Two Months Show The Intrinsic Instability Of Our Entire Economic System

April 18, 2020April 18, 2020

“The truth is simple.”

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24 Comments on Deutsche’s Kocic: The Last Two Months Show The Intrinsic Instability Of Our Entire Economic System

Investors In Risky ‘Pandemic Bonds’ Just Got Wiped Out

April 17, 2020April 17, 2020

You knew the risks, right?

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3 Comments on Investors In Risky ‘Pandemic Bonds’ Just Got Wiped Out

Lindsey Graham: America Should Intentionally Default On Trillions In Debt To Punish China For Pandemic

April 12, 2020April 12, 2020

Better to remain silent and be thought a fool than to speak and to remove all doubt.

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30 Comments on Lindsey Graham: America Should Intentionally Default On Trillions In Debt To Punish China For Pandemic

The Future Is Now: How The Coronavirus Forced Economic Policy To Evolve

April 6, 2020April 6, 2020

Welcome to the future. How do you feel?

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3 Comments on The Future Is Now: How The Coronavirus Forced Economic Policy To Evolve

March Madness: How The Treasury Market Blew Up

April 5, 2020November 22, 2020

Over the past several weeks, central banks globally have been keen to emphasize the extent

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Fire Sale! Foreign Central Banks Sold Record $109 Billion Of Treasurys Last Month Amid Mad Dollar Dash

April 2, 2020April 2, 2020

In case you were curious…

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2 Comments on Fire Sale! Foreign Central Banks Sold Record $109 Billion Of Treasurys Last Month Amid Mad Dollar Dash

Fed Effectively Tells Banks To Increase Leverage With Rule Upping Exposure Capacity By $1.6 Trillion

April 1, 2020April 1, 2020

“…their exclusion will also not incentivize risk-taking by banking organizations.”

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3 Comments on Fed Effectively Tells Banks To Increase Leverage With Rule Upping Exposure Capacity By $1.6 Trillion

Bond Bubble Bursts In ‘Stunning’ Outflow Deluge. BofA Bull & Bear Indicator Hits 0.0

March 27, 2020March 27, 2020

“The liquidation vortex”…

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5 Comments on Bond Bubble Bursts In ‘Stunning’ Outflow Deluge. BofA Bull & Bear Indicator Hits 0.0

Just ‘Trying To Go Up’.

March 26, 2020March 26, 2020

“Markets are all over the place at the moment – and currently trying to go up”.

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