Trader: ‘Investors Know Central Banks Are Just As Deeply Into These Trades As They Are’

“It has been just too great a strategy to call the bluff of those advising caution.”


Toxic Brew: Full Week Ahead Preview

This should be all kinds of amusing.

Going Forward, There Is No Debate: ‘The Balance Sheet Effect Is One Of Tightening’

But hey, this should be fine, right?

Goldilocks Goes To War

After all, she’s got a habit of hanging out with and implicitly taunting bears…

David Stockman: ‘Trump Is Pointing At The Wrong Bureaucrats’

“But two things are absolutely clear about the “why” of this $15 trillion calamity. To wit, it was not caused by some mysterious loss of capitalist enterprise and energy on America’s main street economy since 1975. Nor was it caused—contrary to the Donald’s simple-minded blather—by bad trade deals and stupid people at the USTR and Commerce Department.”

Rise And Fall Of The ‘Zombies’

What happens to the zombies (so to speak)?

Trader: ‘This Feels Like A Throwback To The Pre-Weekend Choices We Had To Make During The Crisis’

To be clear, you don’t ever want to count out the dip-buyers. But…

David Stockman Presents: The Truman Show

“The younger of the anchors (age 32) thought the $1.8 trillion was not a problem because the soaring debt and the Fed’s balance sheet shrinkage plan have been well telegraphed and will shock no one. Yes, and as we were tempted to reply, parking on a rail crossing and knowing that a freight train is barreling down the tracks is not likely to forestall the carnage.”

David Stockman Presents: A $67 Trillion Nightmare

“To wit, there never would have been a double inverse VIX ETF under a regime of honest money and free market financial discipline; nor would you find European junk bond yields trading inside of US treasuries.”

Baby Birds.

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

‘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.”