It’s Tuesday And This Market “Sees No Demons”

“With French political risk significantly reduced (even if there’s still a two-week second round campaign to negotiate), an improving global economy, steadier oil prices, and most of all, range-bound US yields and a lack of fear of rapid Fed tightening, investors see few demons and are off in search of yield.”

Advertisements

While You Were Watching That Screaming Guy On The Plane (Again), I Was Buying Yen

Well, it kinda feels like everyone just said fuck it and bought the yen overnight as the holiday shortened week drags on amid heightened geopolitical tension and a reflation narrative that just refuses to die but simultaneously shows few signs of life. The dollar was looking “offered-ish” pretty much from the word “go” after Janet Yellen’s…

“We’ve Come Too Far, There’s Too Much To Lose!” Composure Key As World War III Beckons

If ever there were a time when the phrase “that escalated quickly” was appropriate, this is it. Following Rex Tillerson’s 2:50 EST impromptu press conference on Thursday afternoon at which the Secretary of State seemed to telegraph an imminent US military response to the chemical attack in Idlib, markets wobbled, but managed to make it…

“Hold My Beer While I Meet Xi.” And Everything Else You Need To Know On Thursday

It’s Thursday, which means today’s Donald Trump gets to look the Donald Trump who refused to shake Angela Merkel’s hand square in the eyes and say “hold my beer.” Chinese President Xi Jinping (also known as the most important person on the planet) will visit Trump at the President’s Mar-a-Lago club in Florida (where else, right?)…

Stagflation Cometh?

From the very beginning – that is, from the time Trump was elected – there’s been this creeping suspicion that the new President’s policy platform could dead end in stagflation. To be sure, this probably never occurred to Trump. He speaks in amorphous platitudes and superlatives. “Big league.” “Tremendous people.” “Good things.” “Phenomenal plans.” “The…

Thoughts On Gold, My Favorite Doorstop

I don’t talk a lot about gold and there’s a reason for that. Here’s something new readers might not expect me to say based on my penchant for playing the boy who cried “black swan”: gold is useless. It blows my mind that we’ve singled out one shiny metal as the safe haven asset par…