Baby Birds.

I think people might be missing some of the nuance inherent in what’s happened to markets this month. 

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‘Why Does It Hurt When We Unwind?’ Why The Re-emancipation Of Markets Will Be Painful

“This time is different.”

No, really.

Are Central Banks Trying To ‘Purposely’ Engineer Volatility? These Investors Think So

The bottom line: for credit investors, the risk of central banks becoming more hawkish is now a two-headed beast.

Trader: ‘I Don’t Know How Else To Say It – It’s Different This Time’

“As I struggle to find the words to communicate my thoughts, I worry they will be misconstrued. Yet I don’t know how else to say it – except to blurt it out. So at the risk of being labeled a fool, here it goes – it’s different this time.”

‘Is This The End Of The Central Bank Put’?

It may be time to question your religion.

David Stockman: Last Week Wasn’t An Error

“Last week’s twin 1,000 point plunges on the Dow were not errors.”

Final Curtain? Full Week Ahead Preview

Is this it?

One Bank Says We’ve Been Placed In A ‘Correctional Facility’

Welcome to Friday.

Or at least that’s what it feels like.

Trader: Here’s What Central Banks Won’t Do

“I am 99.90 bid the 0.10%’s of 27.”

“OK, paying 90. For how many?”

“unlimited…”

‘Significant Shrinkage’

“I don’t believe that for one second.”

Trader: ‘The Path For All Fiat Currencies Is Clear’

“…never in modern financial history has a Central Bank expanded its balance sheet through quantitative easing and then successfully shrunk it back down.”

Trader: ‘The Next Great Crisis Will Be Caused By This’

“The next great crisis will be caused by Central Bankers not realizing that all this monetary fuel they have pumped into the system has finally ignited, and like a bonfire that gets out of control, they have no way of extinguishing it.”

Buckle Up, We Need You: Full Week Ahead Preview

This should be interesting.

Don’t Kid Yourself: ‘No One Knows How This Will Play Out’

“Therefore, 2018 has the potential to be a substantial tipping point in the supply/demand dynamic.”

Pick Your Poison: These 4 Things Could ‘Pop The Central Bank Bubble’

Here we sit, barely two weeks into the new year, and guess what? Risk assets have already blown through some analysts’ full-year projections, with both equities and HY (for instance) rallying further than some of the less sanguine (yet still optimistic) year-end 2018 targets.