“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.”
Category: FX
‘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
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
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
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.”
Geopolitics! Won At 4-Month Low, Lira Sinks, Trump Says ‘Very Severe’ Shit Is Goin’ Down
Well, the won is at four-month low against the dollar on Thursday because, well, because
One Trader Bans ‘Certain Words’ Until You Can ‘Pass His Plain-Speaking Test’
“The last thing I want to be doing the day after July 4th is making any kind of assault on free speech. But I’m going to propose a ban on certain words that no longer pass the plain-speaking test.”
Crude Crashes Abruptly, North Korea Vows More ‘Good-Looking Boys’ For ‘American Bastards’
We just hit technical levels that were a bridge too far at this stage. That’s
Fireworks: North Korea Launches “Anywhere” ICBM, Trump Ponders “Heavy Move,” Central Banks Ahoy!
There’s never a dull moment in a world that’s lost its mind. North Korea celebrated
“A Major, Serious” Situation In Japan, PMIs Galore, And A Deadline For Qatar
Ok, so Shinzo Abe’s LDP suffered a stunning loss in Tokyo assembly elections over the weekend,
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
Humpty Dumpty And The Euro…
“All the king’s soldiers”…
Euro, Euro, Euro
It will take more than anonymous ECB sources to cool the desire to bet on
Trader Delivers Celebratory Warning: “We’re About To Have A Two-Way Market Again”
“It was no small feat. And the fact that it was very much a global phenomenon makes it all the more significant. Investors should have been jolted into the realization that we just might be about to enjoy the healthy benefits of a two-way market.”
Stocks Fall Across The Globe As Hawkish Central Banks, Washington Jitters Roil Risk
Well, the overnight action was predictable under the circumstances, but it’s nevertheless unnerving for anyone
Euro Surges On Draghi’s “Three Messages,” Dollar Eyes Janet, Yuan “Suddenly” Jumps
Boy, I’ll tell you what, if you’re a central banker and you’re going to say
Gold Flash Crashes, “Jubilant” Germans, And Bank Bailouts
Well, gold plunged $18 in seconds on surging volume (18k contracts in a one-minute window)
3 C’s: Crude, Carry, CPI And Your Full Week Ahead Preview
Ok, so it’s Sunday which, as we’re fond of reminding you, means that tomorrow will be Monday – right up until Trump does something that takes the whole of idea of there being a “tomorrow” off the table…
One Trader Trusts Numbers Even Less Than He Trusts You – And That’s Saying Something
“The dictionary speaks of facts and specifics. But in reality it includes, biases, positions and a whole lot of other subjective factors. You and I can, quite properly, look at the same data and react differently.”
Chart Of The Day: Asset Prices In The Trump Era
See if you can spot what’s still hanging on for dear life at record highs/tights despite lackluster incoming data and central bank tightening…
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