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Category: FX

Fairly Wacky Ideas.

July 8, 2020July 8, 2020

“It sounds quite radical”.

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7 Comments on Fairly Wacky Ideas.

Attack The Peg? Trump Administration Ponders Nuclear Option For Hong Kong Retaliation

July 7, 2020July 7, 2020

“We are looking at numerous different things”.

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9 Comments on Attack The Peg? Trump Administration Ponders Nuclear Option For Hong Kong Retaliation

Picture Perfect: The Fed Gets ‘Exactly What It Wants’

June 27, 2020August 15, 2020

“The Fed must be happy”, TD’s Priya Misra said this week. “Well, at least pleased

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2 Comments on Picture Perfect: The Fed Gets ‘Exactly What It Wants’

Pause For Reset

June 4, 2020June 4, 2020

It’s not surprising to see a bit of a regime flip, if only for a day.

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2 Comments on Pause For Reset

Meanwhile, In The UK: Retail Apocalypse, Record Deficit, Negative Rates And A Possible ‘Pound’ing

May 22, 2020May 22, 2020

“We may be in an era where financial markets have become desensitized to big percentages, but…”

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4 Comments on Meanwhile, In The UK: Retail Apocalypse, Record Deficit, Negative Rates And A Possible ‘Pound’ing

Meanwhile, In Turkey…

May 21, 2020May 21, 2020

Of “foiled” plots and valuable, gas-rich allies.

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Meanwhile, Turkey Careens Into Currency Crisis As Erdogan ‘Declares War’ On Citi, UBS, BNP

May 7, 2020

“…a hugely damaging move.”

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Leave a Comment on Meanwhile, Turkey Careens Into Currency Crisis As Erdogan ‘Declares War’ On Citi, UBS, BNP

‘Trade War 2.0’ And The Empty Optimism Toothpaste Tube

May 4, 2020May 4, 2020

“…potential negative surprises.”

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4 Comments on ‘Trade War 2.0’ And The Empty Optimism Toothpaste Tube

‘There’s No Such Thing As A Free Market.’ Imagine A Future Where Asset Prices Are Administered

April 13, 2020November 19, 2020

Call it a requiem. Or a pseudo-lament. Or maybe just an obituary dressed up as

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9 Comments on ‘There’s No Such Thing As A Free Market.’ Imagine A Future Where Asset Prices Are Administered

From ‘Virus Divergence’ To Intervention Risk: Wall Street Disagrees On Dollar’s Post-Squeeze Path

March 29, 2020

Where to now?

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Leave a Comment on From ‘Virus Divergence’ To Intervention Risk: Wall Street Disagrees On Dollar’s Post-Squeeze Path

Have We Seen The Worst Of The Dollar Delirium? Asking For The Entire World

March 27, 2020March 27, 2020

One more time: It’s much safer out there when the dollar isn’t going vertical.

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1 Comment on Have We Seen The Worst Of The Dollar Delirium? Asking For The Entire World

Fed Answers Market SOS, Expands Dollar Swap Lines In Crucial Move Amid FX Chaos

March 19, 2020March 19, 2020

The new facilities will be in place for “at least six months”, the Fed said Thursday.

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Leave a Comment on Fed Answers Market SOS, Expands Dollar Swap Lines In Crucial Move Amid FX Chaos

Mar-A-Lago Accord, Untradeable FX And The Dangers Of Shutting Markets

March 19, 2020March 19, 2020

“FX remains untradeable”.

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3 Comments on Mar-A-Lago Accord, Untradeable FX And The Dangers Of Shutting Markets

‘A Massive Margin Call On The Whole Financial Asset Rally Since 2010’

March 18, 2020March 19, 2020

“The moves smack of massive de-leveraging and a run into dollar cash”.

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oil12 Comments on ‘A Massive Margin Call On The Whole Financial Asset Rally Since 2010’

Ablaze.

March 18, 2020March 19, 2020

Wartime.

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8 Comments on Ablaze.

$850 Billion.

March 17, 2020March 17, 2020

Governments are under pressure to do something – anything.

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7 Comments on $850 Billion.

All In. Limit Down.

March 15, 2020March 15, 2020

“The Fed has likely fired off its last bazooka.”

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7 Comments on All In. Limit Down.

New Zealand Delivers Big Rate Cut, Commits To 12 Months Near Zero, Says QE May Be Next

March 15, 2020March 15, 2020

We are now firing the last bullets. And we’re shooting at a pathogen. 

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2 Comments on New Zealand Delivers Big Rate Cut, Commits To 12 Months Near Zero, Says QE May Be Next

S&P Futures Limit-Up In ‘Classic Bear Market Rally’ As Stimulus Hopes Abound

March 10, 2020March 10, 2020

“In our view this is a classic bear market rally”.

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‘Excessive And One-Sided’: Crisis Rolls On With FX Flash Crashes, Plunging Yields, Bloodbath In Japan

March 8, 2020March 8, 2020

Everyone knew Monday morning would be remarkable. The market didn’t disappoint.

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3 Comments on ‘Excessive And One-Sided’: Crisis Rolls On With FX Flash Crashes, Plunging Yields, Bloodbath In Japan

Oil Dives 30% In Jaw-Dropping Move Following Saudi Price War Declaration

March 8, 2020March 9, 2020

Not a typo.

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oil, OPEC9 Comments on Oil Dives 309 In Jaw-Dropping Move Following Saudi Price War Declaration

Analysts Warn Of ‘VaR Implosion’, ‘Full-Blown Crisis’ As New Week Dawns With S&P Futures Limit-Down

March 8, 2020March 8, 2020

Fragile. Handle with care.

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oil6 Comments on Analysts Warn Of ‘VaR Implosion’, ‘Full-Blown Crisis’ As New Week Dawns With S&P Futures Limit-Down

‘Tin Hat’ Time In FX As Duration Goes ‘Offer-less’ Amid Quarantine Panic

March 6, 2020March 6, 2020

Carry a towel.

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3 Comments on ‘Tin Hat’ Time In FX As Duration Goes ‘Offer-less’ Amid Quarantine Panic

‘Defining Moment’ For Markets As BoJ Kicks Off Central Bank Response After Dire Weekend News Flow

March 1, 2020March 1, 2020

“Be prepared and dust off the crisis playbook”.

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5 Comments on ‘Defining Moment’ For Markets As BoJ Kicks Off Central Bank Response After Dire Weekend News Flow

Nobody Say ‘Spanish Flu’

February 26, 2020February 26, 2020

“…complex interconnected systems greatly increase underlying risks.”

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5 Comments on Nobody Say ‘Spanish Flu’

‘The World Is Getting Spooky’: Risk Assets Start New Week On Shaky Ground

February 23, 2020February 23, 2020

The market hates uncertainty…

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3 Comments on ‘The World Is Getting Spooky’: Risk Assets Start New Week On Shaky Ground

Yen-Sanity. Dollar Delirium.

February 20, 2020February 20, 2020

It’s dizzying, to say the least.

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2 Comments on Yen-Sanity. Dollar Delirium.

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Monthly Letter+

  • Lost At Sea

    March 11, 2023March 11, 2023

Week’s News

Great American Deposit Debate Spotlights Legislative Gridlock

March 27, 2023March 27, 2023

Failing Banks, Persistent Inflation Promise Fun-Filled Week

March 26, 2023March 27, 2023

We’re Scaring Ourselves Into Bank Runs Now

March 24, 2023March 26, 2023

It’s Not A Wage-Price Spiral. It’s ‘Greedflation’!

March 23, 2023March 24, 2023

Xi, Putin Revel In Pageantry As Show Of Defiance

March 20, 2023March 22, 2023

Most Read

  • Bonds Doubt Their God. 'Stocks Are Next,' Wilson Warns
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  • Great American Deposit Debate Spotlights Legislative Gridlock
    Great American Deposit Debate Spotlights Legislative Gridlock
  • Interview That Collapsed Credit Suisse Costs Saudi Financier His Job
    Interview That Collapsed Credit Suisse Costs Saudi Financier His Job
  • Let's Argue About Student Debt Some More
    Let's Argue About Student Debt Some More
  • Failing Banks, Persistent Inflation Promise Fun-Filled Week
    Failing Banks, Persistent Inflation Promise Fun-Filled Week

Recent Comments

  • anonemouse on Bonds Doubt Their God. ‘Stocks Are Next,’ Wilson Warns
  • Patrick on Let’s Argue About Student Debt Some More
  • RIA on Great American Deposit Debate Spotlights Legislative Gridlock
  • RIA on Great American Deposit Debate Spotlights Legislative Gridlock
  • Fatmoose on No. All Deposits Under $250,000 Aren’t ‘Covered’

Monthly Letters

Lost At Sea

March 11, 2023March 11, 2023

Exiles On Main Street

February 4, 2023March 11, 2023

That’s Great, It Starts With An Earthquake

January 22, 2023February 4, 2023

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