One bond market recap featured the word “bloody.” I suppose the hyperbole was apt. Last
Category: Markets
The High Price Of Price Uncertainty
Anyone searching for evidence of a rebound in consumer sentiment in late October was disappointed
Taper Tantrum, Aussie Style
In case it wasn’t clear enough that some manner of policy shift is in the
Not For Me To Say
“Not for me to say.” That was Christine Lagarde’s assessment Thursday when, following the October
Marko Kolanovic: ‘Did The World Change Yesterday? No.’
The financial media was awash this week with headlines about flattening yield curves and what
ECB Confronts Global Rates Upheaval As German Inflation Soars
Over the past several weeks, traders began pondering active central banks and preemptive policy tightening
‘Mayhem’ In Aussie Rates As YCC Breaks
Yield-curve control snapped in Australia Thursday. I’m insistent on the notion that it’s never a
Central Banks Are Reinstating The Fourth Wall
Central banks may be reinstating the fourth wall. Following Janet Yellen’s decision to postpone liftoff
‘This Is Wild’: Canadian Rates Go Nuts On BoC Blindside
The Bank of Canada on Wednesday became the latest central bank to suggest (tacitly) that
Inflation And The Billionaires Tax
Taxes and inflation were in the news Wednesday. Or, put differently, the same macro narratives
Elon Musk And Our Future In Irrelevance
Because much of this wealth is tied up in stock, society benefits not via compulsory
The Real Takeaway From Tesla Fireworks
At regular intervals, I feel compelled to remind market participants that things don’t really work
China Tells Evergrande Founder To Pay Debt With Personal Wealth
China has an idea for Evergrande. Hui Ka Yan should help pay the company’s debt.
The Facebook Papers: We’re Not Asking The Right Questions
It’s difficult for me to get excited about the latest deluge of damning revelations about
‘Persona Non Grata’: Erdogan Recycles Playbook
Last week, following a second consecutive rate cut from Turkey’s hopelessly beholden central bank, I
Crowded Bearish Rates Trade Poses ‘Major Market Reversal Risk’
Last week, I wrote that seemingly everyone has coalesced around some variation on a bearish
‘Epidemic’ Is A Relative Term
Traders and investors were greeted by proliferating coverage of China’s latest COVID outbreak as the
‘It’s Come To This’: Beyond The Great Supply Chain Crisis
If rates are losing the plot due to the impossibility of mapping the interplay between
Stagflation Week (Losing The Plot)
The market’s stagflation obsession will be on full display this week as GDP reports out
‘The System Has Become Over-Optimized’
In “Underestimating The Biggest Risk Of All,” I contextualized the Bank of England’s rate hike
Underestimating The Biggest Risk Of All
I doubt Turkey’s Recep Tayyip Erdogan was aware of this when he compelled central bank
Never Call The Top
Global equities enjoyed the largest inflow in five weeks as US stocks trekked towards new
US Inflation Shows ‘No Signs Of Abating’ In October
US services sector activity was more robust than anticipated in early October. Or something. It’s
UK Faces Nightmare Dilemma With Inflation Gauge At 25-Year High
Never miss an opportunity to use the word “century” in a headline. That’s especially applicable
Finding $83.5 Million
Evergrande found $83.5 million. With just days to go before the grace period on a
A Heroic Powell Restores Public Faith In The Fed
“This is huge news,” someone on Bloomberg Television declared, as the network interrupted a live
What If Nothing Is ‘Transitory’?
“Buyers likely want to secure a home before mortgage rates increase even further next year,”
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