The Berkshire acolytes will have to forgive me: There’s too much going on in the
Category: Duly Noted
Money Funds See Second-Largest Inflow Since March
Money market funds saw their second-largest inflow since March’s regional bank drama in the week
Is This Bond Bounce For Real?
Early last month, during a fleeting rally for the otherwise beset US long-end, I called
De-Dollarization Is Happening! On Social Media.
Lots of aggressive tweets with little to show for it. Story of our time, right?
Ex-Bridgewater Investment Chief Sees 10 More Years Of US Equity Dominance
Every few years, a new cohort of investors stumbles across recycled narratives touting the end
Kolanovic: ‘Pessimism Rising,’ EPS Estimates Too Rosy
“Investors’ pessimism is rising.” So said JPMorgan analysts led by Marko Kolanovic on Monday. It’s true.
Refunding Drama: How We Got Here
As discussed here on too many occasions to count over the past week or two,
A Quick Guide To The All-Important Treasury Refunding
This week’s Treasury financing estimate and refunding announcement are a big deal. Indeed, as discussed
‘The Biggest Flow Story Right Now’
Earlier this week, I highlighted ongoing inflows to the largest Treasury ETF amid more rates
Money Market Fund Inflows Resume. RRP Near Two-Year Low
Money market funds recouped a portion of last week’s massive outflow in the week to
The 1969 Analogue
Readers have heard a lot (too much, maybe) from me on the bear steepener over
McElligott Sees ‘Big Problems’ For 2023 ‘Big Sharpe’ Trades
One risk headed into earnings was the abatement of the low bar dynamic. Low bars
Largest Treasury ETF Is Market Obsession Amid Epic Bond Turmoil
The largest Treasury ETF became a source of intense — and I’ll eschew the temptation
Buyback Rebound Will Prove Elusive, BofA Suggests
Buybacks: Who doesn’t love them? Buybacks are shareholder capitalism’s crowning achievement. It’s stockowners who matter
Vol Sellers Abound Ahead Of Mega-Cap Earnings
Vol-selling across the equities options space was “unrelenting” late last week and early this week.
Why Marko Kolanovic And JPMorgan Are Still Cautious
If you’re wondering why JPMorgan remains defensive in their asset allocation (and cautious in their
Swissy Never Lies
What’s the best hedge for geopolitical turmoil? That question’s a bit of a red herring.
Why Friday’s Stock Selloff Got No VIX Response
Remember the call spread buyer? If not, I won’t trouble you with the specifics on
Haves, Have-Nots And The Term Premium
Earlier this week, I noted that money market funds are throwing off an estimated $22
Money Market Funds See Largest Outflow Since Lehman
Money market funds saw the largest weekly exodus since Lehman in the week to October
The Disinversion You Should Be Watching
When you hear the term “disinversion,” you probably think Treasury curve. If this were a
Are Higher Rates Inflationary Now?
On Thursday, while editorializing around the slowest pace of US existing home sales since 2010,
Never A Dull Moment For Bonds Gone Wild
There’s rarely a dull moment in the US rates complex these days. If it’s fireworks
Market Hedging Mideast ‘Tinderbox’ With VIX, Crude, Gold: McElligott
Bonds haven’t been the best hedge for your equities over the past two years. Maybe
Bond Fireworks: Largest Treasury ETF Now More Volatile Than Stocks
Anyone hoping for a reprieve from the “penny stock“-esque, rollercoaster price action that’s come to
Who’ll Buy Equities In 2024?
Market participants are understandably concerned about what many argue is a burgeoning supply/demand imbalance in
Kolanovic, JPMorgan Add Bonds, Gold Amid Familiar Risks
Different month, same risks. That was the overarching message from JPMorgan analysts led by Marko
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