One Bank Sees ‘Ominous Signs For The World’s Most Important Financial Institutions’

“We do not believe this decoupling will be sustainable. Either the rest of the equities must come under pressure or the financial sector must rally.”


Of Liquidity, Fragility, HFTs And ETFs: One Bank Takes You On A ‘Flash Crash Course’

Down the rabbit hole…

JPMorgan Asks: ‘Has The Marginal Equity Buyer Gone?’

I guess you can’t blame investors being a bit shell-shocked.

When Tailwinds Become Headwinds

“The major opposing forces in 2018 will be contracting global liquidity vs synchronized global growth. Our view is that the former will be the bigger force, and will drive asset returns in 2018.”

Aleksandar Kocic Presents: The Dark Side Of Liquidity

“We start with liquidity as a principle which leads to a sequence of events that escalates into a liquidity crisis, response to which is then an aggressive liquidity injection. At this point, we have to ask the logical question”…

El-Erian: Investors Have Been Given ‘A Gift’ – But It Won’t Last

“By boosting returns and repressing volatility, ample liquidity is a gift for investors. It makes the investment journey pleasing, comfortable and lengthy. But it is not a destination.”

Travesty Of Justice: Bombay Sapphire Recalled For Getting People Too Drunk

Clearly, there is only one question worth asking here…

Here Are 2 Charts Trump Can Take Credit For. But…

The top three busiest weeks for investment grade trading volumes in the post-crisis period have all occurred in 2017.”

Entire World Scrambles To Figure Out Why The Hell The Dollar Isn’t Stronger On Thursday

So what gives? Well, probably not a lot. It could just be everyone is taking a breather. But, in a testament to Nassim Taleb’s “narrative fallacy” argument, we have an overwhelming tendency to ascribe “causes” where there are none.

Is Anyone Home Out There? Please Tell Me How This Ends Well

You know, when it comes to the corporate bond market and liquidity, there’s only so loud you can scream if no one wants to listen. I’ve been in several positions over the years where I got to scream pretty loud (in terms of the size of the audience reached) and it still didn’t feel like…

What Happens When You Have To Play That Piano Drunk? Or, The Most Absurd Thing I Heard All Day

You’re really good on the piano. I mean, when it comes to the black and white keys, Alicia ain’t got sh*t on you. You’re probably going to be a concert pianist. But then, a venerable Wall Street firm comes along and, because you also happen to have a knack for cash flow analysis (and an…

Liquidity Lapse: Don’t Say You Weren’t Warned

The liquidity picture for corporate cash bonds is looking increasingly ugly.