“If Democrats take control of the Senate after the January 5th Georgia runoff elections, our
Category: Markets
While You Were Watching The Election Soap Opera, Earnings Season Was ‘Stellar’
You may not have noticed, but Q3 earnings season went remarkably well. In fact, it
Investors Just Rushed Back Into Junk
Earlier this week, US junk bond yields hit all-time lows amid the rampant euphoria that
‘Game Changers’ (Crashes & Squeezes)
This will be a week remembered for the largest one-day momentum crash and the biggest
Election Blues For Red Consumers
Consumer sentiment unexpectedly declined in the preliminary read on the University of Michigan survey for
‘Sell The Vaccine’ (And The Biggest Ever Inflow Into Global Equities)
“We are sellers” into vaccine strength, BofA’s Michael Hartnett said, in the latest edition of
Lukewarm Congratulations
Global equities were mixed and Wall Street looked to end a rollercoaster week with gains
Trump Abandons Stimulus Push With 10 Million Americans Jobless. Focuses On Election Litigation
Donald Trump has given up on passing another virus relief bill. Or, if you like
From ‘We’re All Gonna Die’ To 15-Sigma ‘Hope’ Shocks (And Beyond)
Nothing is certain in life besides truisms, tautologies, death, and taxes, and even the latter
Disinflation Dominates. Historic Surge In Used Car Prices Ends
If it’s signs of inflation in the US you’re looking for, you won’t find them
Jobless Claims On Verge Of Falling Below Pre-Pandemic Record. But…
709,000 Americans filed for unemployment benefits last week, in what’s either a “new pandemic low”
Hope. But Also Fear.
Risk appetite abated a bit on Thursday, and markets were broadly mixed as investors took
Can The S&P 500 Perform Without FAAMG? Here’s The Answer
On the one-week anniversary of US tech shares’ post-election surge, America’s favorite mega-caps were buoyant.
In This Market, ‘Good News Can Actually Lose You Money’
“Why comment on the past?,” SocGen’s Andrew Lapthorne and Solomon Tadesse wondered, in a note
Gullibility Knows No Bounds: Lira, Turkish Banks Stage Absurd Rally On Erdogan Promises
Turkey’s Recep Tayyip Erdogan is ready to take his medicine. Don’t believe me? Just ask
‘Sure,’ The World’s On Fire. But Strats Controlling $1 Trillion Will Still Buy Stocks
I love reading copy sometimes. Whenever the world is going to hell in a handbasket,
Goldman Sees ‘Roaring ‘20s Redux.’ S&P To Hit 4,600 In 2022
“A vaccine is a more important development for the economy and markets than the prospective
Chinese Tech Is Imploding
Chinese tech shares are in trouble. Beijing’s abrupt blitz to rein in Alibaba, Tencent, and
Withdrawal Symptoms
What was truly remarkable about the first two days of trading in the new week
Meanwhile, More Milestones In Junk
Since April, one of the most astounding dynamics to observe was the dramatic abatement of
After The Largest One-Day Momentum Crash In History, Here’s The Ultimate Irony
“The last shall be first and the first last.” That was the story for markets through Tuesday, as value posted
Some Specialist Skills Required
It took around 24 hours for market participants to start asking questions about the viability
Skepticism, Dispersion, And ‘Fanciful, Specious’ Theories
The rotation set in motion by Monday’s vaccine breakthrough extended into Tuesday, which ended up
‘Structural Issues’
If you were a bond bear headed into the US election, things didn’t go entirely
‘Most Significant Medical Advance In 100 Years’ Sets Off Market Fireworks
“I believe this is likely the most significant medical advance in the last 100 years,
‘It’s Difficult To Fade’: As Markets React To Vaccine News, ‘Quant Quake’ Risk Comes Calling
“It’s difficult to fade this move as global risk markets should rally more on what
Nomura’s McElligott On Vaccine News: ‘The Reflation, Reopening, Relief’ Trade Will Be ‘Insane’
News that Pfizer’s COVID-19 vaccine has an efficacy rate above 90% rippled across asset classes
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