There’s rarely a dull moment in the US rates complex these days. If it’s fireworks
Category: Duly Noted
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
Treasury Market Struggles With Unfamiliar Dynamic: Buyers Who Care About Price
There’s a lot of focus on Treasury supply right now, and that’s an understatement. Last
A Spread Worth Watching?
Who you gonna believe, gas prices or the labor market? Last week, the preliminary read
Are Markets Overestimating Right-Tail Risk?
It’s been all right-tail and no left- in recent weeks, according to option-implied, three-month ahead
US Equity Funds Return To Outflows But Bullish Sentiment Jumps
US equity-focused ETFs and mutual funds returned to outflows over the latest weekly reporting period.
Bonds May Offer ‘Stock-Like’ Returns In 2024
Did you hear? Bonds could be set to offer “equity-like” returns in 2024. I’m serious.
Money Fund Assets Remain Near Record. RRP Hits New Two-Year Low
Money market funds assets remained near record highs in excess of $5.71 trillion in the
A Quick Guide To Q3 Earnings Season
Earnings season kicks off in the US on Friday. Perhaps you heard. Most readers hopefully
Two Mideast War Scenarios
“An Israel-Hamas war would be tragic, but the impact on the global economy and markets
‘Highly Probable Fed Hikes Are Complete’: McElligott
Have we seen the turning point for bonds? I hope so. I like being right
Fear The Wall
Everybody has a maturity wall, it’s just a matter of how far out it is.
Technically Speaking
If you’re looking to explain recent weakness in equities, you don’t have to look very
‘An Orderly Clearing Of Markets’: Goldman On The Bond Selloff
Odds may now favor a “sharp reversal” in US long-end yields. That’s according to Goldman,
US Equity Flows, Sentiment Cautious Amid Macro Ambiguity
US equity-focused ETFs and mutual funds notched another week of inflows with a modest $3.9
Money Market Funds See Massive Inflow. Assets Hit $5.71 Trillion
Money market funds took in a massive $64 billion in the week to October 4,
Stock Correction Saw $50 Billion In Mechanical Selling
The impact of systematic flows — and particularly systematic selling — on equities is a
Disinversion By Bear?
The key question on the heels of this summer’s dramatic escalation in what’s now the
The Only Thing To Fear Is Missing Out
Ours is a market “conditioned to fear rallies more than selloffs and comfortably numb to
Vol-Selling, Mechanical De-Leveraging And What’s Next For Stocks
The muscle memory that says you sell vol on any meaningful expansion and/or setback for
What Explains The Low VIX/MOVE Ratio?
The tale of falling corporate interest payments in an environment of sharply higher rates is
Rates And Stocks From The Rooftops
Rising rates are a problem for richly-valued equities. Did you hear? If not, just step
One Bull, One Bear
Two weeks ago, BofA’s Savita Subramanian lifted the bank’s year-end target for the S&P to 4,600. The
Rally Bets Saddle Stocks With ‘Upside Overhang’
“GO TIME” read the subject line of the first Q4 note from Nomura’s Charlie McElligott,
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