“There’s no reason why you can’t be trapped in the waiting room and still keep yourself occupied and have a bit of fun.”
Category: ECB
‘Superfirms’ And ‘The Rise Of The Zombies’
“Allowing a bund shock and a credit tantrum to take hold would only pressure corporate interest costs again, and risk a rise of the zombies”…
A ‘Gettin’ Away With Murder’ Type Of Day: Thursday Market Wrap
Thursday was all about people who might have gotten away with murder…
‘We Don’t Believe You’: FX Market Flips Draghi The Bird
It’s time to call bullshit.
ECB Keeps Everything Unchanged, Language Seems Dovish
Ok, well the euro may have come off a little in the past 24 hours
Stocks Touch Record Highs: Full Wednesday Visual Recap
“So much winning, you’re going to get tired of winning”…
Another Trial Balloon: ECB ‘Studying’ How To Let You Down Easy
“The market reaction to Draghi’s speech last month in Sintra has made some policy makers more cautious.”
‘Does a Canary Chirp If No One’s in the Mine?’
“For now, nothing can go wrong. And if you needed any proof that central bank policy is the ultimate driver of these markets, here you have it.”
‘Billions And Billions And Billions’: ECB, BoJ, And Your Full Week Ahead Preview
If you didn’t get your fill of hand-wringing over DM central banks last week, then you’re in luck…
Deutsche Bank: ‘The Limit Is Near’
“This episode provides a good example of just how difficult the eventual path to policy normalization is going to be.”
Stocks Fly To Records, Global Risk Rally Continues As Bad Data, ‘Good’ Yellen Keep Hope Alive
The message is loud and fucking clear: the vol. seller’s/ carry trader’s paradise and the risk party that’s made every homegamer with some SPY and QQQ look like a guru for the past eight years depends on DM central bankers staying some modicum of dovish. And on that score, bad data helps.
Trader: ‘Everyone Is Wrong But Me’
“And now? Dovish Fed speak, wavering ECB leaks, resolute BOJ actions, completely mixed emotions from the BOE and suddenly it doesn’t feel nearly as fun.”
ECB Tries To Wake Up ‘Exceedingly’ Sleepy Robots With Reuters Leak – Fails
“The important thing is not to pre-commit and keep it very gradual.”
Dow Closes At Record High – So Does Central Banker Confusion
So yeah, another day, another largely fruitless effort to figure out what exactly the message
Did Mario Draghi And The Wall Street Journal Just Engineer A Bond Selloff?
These fuckers are quite literally trying to engineer a Thursday bond sell off before our very eyes and the idea seems to be that they can do it without risking any concurrent weakness in equities because no one will want to sell with Yellen still talking.
Trader: ‘Conspiracy Theories’ Only Work If Everyone Sticks To The Script
“But they seem to cling to the notion that they must do so without any knock-on effects to the broader category of assets. They do so love the calming sounds from the trickle-down effect.”
O, Canada! China?! Yellen Yellin’: Full Week Ahead Preview
Ok, well this should be an interesting week. We’ll get the BoC, which will make
If This Is The Big One, ‘You’re Going To Have To See It Here Too’…
“Do as we say in rates and do as we do in credit” – or something.
‘The Ultimate Negative Feedback Loop’
“With asset prices so well correlated to financial conditions now, being too hawkish – and instigating market tantrums – creates the ultimate negative feedback loop.”
Mind The ‘Transatlantic Convergence’ Theme
“One of the things we hear discussed a lot is that an inverted yield curve tends to be a good predictor of recessions, but that’s because it comes at the same time as peak Fed Funds, and ‘peak tight money’ is a good predictor of recessions for more obvious reasons.”
Jobs Report, Chilled Urine, And Kashkari’s Rib Roast: Full Week Ahead Preview
If you were following along last week, then you already know what to look for
“Where It All Goes Wrong”
” Ultimately it all depends on inflation and growth but whether or not these are structurally driven or endogenous to the Fed’s and other central banks policy rhetoric remains to be seen. We remain skeptical!”
One Trader Doesn’t Like Your “Hyperbole,” But He’ll Let It Slide As Long As You Don’t Mistake A Passing Pigeon For “Paree”
“It’s been a week filled with hyperbole. Trial balloons dressed up as pre-commitments. A little volatility described in cataclysmic terms and compared to jarring historical market upsets.”
And God Said “Let There Be Data: And There Was Data.”
It’s Friday and God said, “let there be data: and there was data.” Let’s start
Trader: “Black Swan Events Happen A Lot More Often Than They’re Supposed To”
“The Fed has enjoyed free-ridership of doing so while everyone else is still printing away. This has meant that financial market conditions have taken it wholly in stride. To assert that this will be the case when everyone else join is making a big assumption about the efficacy of the cure.”
Humpty Dumpty And The Euro…
“All the king’s soldiers”…
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