What’s cheap in equities? Wait. Don’t answer that. It’s a trick! It’s all expensive. I
Category: Markets
Fantasy Worlds, Bitcoin And The Almost Apocalypse
Meanwhile, in the land of the make-believe, Bitcoin hit a new record over the weekend,
Treasury ETF In Bear Market As US Borrows Portugal’s GDP In 4 Days
If you go by TLT, bonds are in a bear market. The widely-followed long-end product
Behold: A Record Plunge In Primary Dealer Treasury Holdings
If you were looking for data to help support the narrative that the Fed’s silence
Nomura’s McElligott: ‘Folks Are Emerging From The Bunker’
For most of 2021, scouring the equities vol space for signs of crash-up positioning suggested
Out Of The Frying Pan, Into The Fire
A fresh bout of bond turmoil rippled across markets Friday, as Treasurys sold off on
US Household Net Worth Jumped $7 Trillion In Q4
Following the worst year for humanity in at least seven decades, Americans were richer than
Albert Edwards On Stocks, ‘Hard Core’ Disinflation
“A few weeks back, I doubted US 10-year yields could reach the lofty heights of
Out Of The Woods Or Pet Sematary?
“Out of the woods” is everywhere and always a perilous phrase. No matter the context,
Amid Vigilante Attack, ECB Will Buy At ‘Significantly Higher Pace’
The ECB is dealing with the same dilemma as the Fed, the RBA, the BoJ,
Stimulus Hits With Jobless Claims Near Pandemic Lows
712,000 Americans filed for unemployment benefits last week, slightly less than the market expected. Economists
$1 Trillion In Your Pocket
“Tomorrow will make one year since the coronavirus was declared a public health emergency by
Dead Cat Tech Bounce
The rebound in tech shares and other pandemic winners fizzled Wednesday, perhaps suggesting the correction
Hyperinflation Postponed In US
If a relatively bland inflation print was desirable for market participants concerned about the possibility
Churn And ‘The Absence Of Conviction’
“Churn” now seems inevitable. Tech, stay-at-home favorites, and pandemic winners will look oversold to salivating
‘Mock Starket’ (Meanwhile, In China)
A day after state-backed funds intervened to stanch the bleeding in mainland Chinese stocks, Weibo
Revenge Of The Titans
As far as dramatic turnarounds go, you could scarcely ask for a juxtaposition more stark
Dollar Collapse And The $187 Reese’s Cup
With the House poised to pass Democrats’ $1.9 trillion virus relief bill and Joe Biden
Corrections, Whipsaws And A Half-Century Of ‘Precedent’
US investors were looking for signs on Tuesday that the relentless, grinding rout in tech
China On Brink Of Bear Market As State Rescue Fails
An already tenuous situation in mainland Chinese equities deteriorated further Tuesday despite state intervention to
Rotation Fascination
Bullish comments from David Tepper (speaking through surrogates on CNBC) helped set the tone and
David Tepper Foretells End Of Bond Selloff Via Prophet Kernen
I allocate at least two hours each day to reading, where “reading” means serious reading.
Return Of The King
There was trouble in paradise as the new week dawned. A promising start in Asia
It’s Bad In China. And Worse For Hong Kong Tech
Last week, I whispered about a “global tech bear market.” The poster child, I noted,
Saudi Oil Infrastructure Gets Another Test In Ambitious Houthi Strike
In a rather stark reminder that a meaningful portion of the world’s oil supply is
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