Ok, well there were some notable headlines to start the week…
Well, an eventful week ended on a sour note, which is a shame for the bulls because Thursday was a barnburner.
Just how nervous did folks get during the junk bond rout that finally took a breather when spreads tightened materially on Thursday?
“That’s one small step for rich people and corporate ‘citizens’ and one giant leap for Republicans who can’t get shit done”…
Maybe you heard and maybe you didn’t, but Goldman’s got themselves some trade ideas for 2018 they want to tell you about, ok?
The setup was terrible, with falling commodities, a downbeat Asian session, and junk jitters weighing on sentiment.
“Many of these same investors, however, tend to agree with us on a two year view that things are likely to end very badly.”
I’m not entirely sure what to make of the commentary on this. There’s no “right” way to write about it. It’s almost a “see no evil, hear no evil, speak no evil,” type of deal.
The fireworks started in Japan and that’s where they ended.
“This is the big one, Elizabeth!”
“So maybe it’s not so much that equities are out of synch with high yield, as much as it is”…
What happens over the weekend no longer remains confined to the weekend.
In the end, the “truth” will prevail.
“Well in a low vol world, yesterday was fascinating and a small shock to the system.”
Thursday, bloody Thursday.