Wild Week In Charts: Risk Still Buoyant, Vol. Still Low, Trump Still In Focus
Full visual tour.
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Aussie Plunges Most Since May 3: ‘Two Birds, One Stone’
“Debelle smashed two arguments in one sitting. Two birds, one stone.”
A ‘Gettin’ Away With Murder’ Type Of Day: Thursday Market Wrap
Thursday was all about people who might have gotten away with murder…
Stocks Touch Record Highs: Full Wednesday Visual Recap
“So much winning, you’re going to get tired of winning”…
The ‘Only Game In Town’: If FX Didn’t Exist, We’d Have To Invent It In 2017
“We don’t often know when a political crisis will rear its head. Not a problem for a 24-hour market. Want to deal anonymously with all the protections of off-shore counter-parties? Not a problem. And, if you think the matter is egregious enough, you can leverage up pretty much to your heart’s content.”
‘Netflix & Chill’ – Full Visual Tour Of Tuesday’s Market Action
Netflix, Goldman, “own dick eating,” a failed healthcare bill, dollar doldrums, and so much more…
Are You Confused About FX Confusion? SocGen Can Help…
“The world is less in need of triage and intensive care from central bankers than it was, and more of them are thinking about how, and when, to set out on the road to normalisation.”
Risk-On Still Intact As Entire World Ignores China Stock Plunge: Full Visual Recap
All told, the mood remains “risk-on.”
‘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…
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.
‘This Increases The Anxiety’: Gold Surges With Euro, Sterling On CPI Miss
“Gold is the net beneficial of this data [as] this increases the anxiety and creates a lot of questions about the current strategy which the Fed is using.”
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 is from DM central bankers. Yellen was, well, Yellen, and her second day on Capitol Hill brought little in the way of surprises although there was this: It is premature to conclude the underlying inflation trend is falling well short…
Global Stocks Are Happy. Gold Is Sad. China! I Found Some Inflation In Norway.
Well, I’d say “it’s quiet out there,” but that’s cliché. So how about this: “ain’t shit shakin’ but the leaves in the trees“. Ok, maybe a few things happened while you were asleep. But not much. Let’s walk through some things. We got China PPI and CPI, with the former printing +5.5% for June, in…
Yen, Pound Nosedive, BoJ Reminds You Who’s In Charge Here
Right, so first thing Thursday morning we noted that 10Y JGB yields had risen to 0.10% for the first time since mid-February. “This suggests the upward pressure on DM yields globally is starting to test the BoJ’s YCC,” we continued, adding that “the focus is squarely on BoJ buying including Friday’s purchase operation which the…
Trader: ‘Stocks Might Even Go Down. Stranger Things Have Happened’
“So the question you need to be asking isn’t whether something is mispriced, but what are the catalysts that will convince the market that it’s time to recognize it as so.”
