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Category: Markets

Bond Rally Has That August Feel, As Macro Scare And Hedging Flows Collide

February 21, 2020February 21, 2020

And now, back to your regularly scheduled, insane duration grab.

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Stunning: Markit PMI Posts Wild Miss As 4-Year Expansion Abruptly Ends

February 21, 2020February 21, 2020

And that, as they say, is that.

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11 Comments on Stunning: Markit PMI Posts Wild Miss As 4-Year Expansion Abruptly Ends

Don’t Read The Fine Print On Best German Factory PMI In 13 Months

February 21, 2020

“…the observed jump in the headline index flatters the sector’s current trajectory”.

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1 Comment on Don’t Read The Fine Print On Best German Factory PMI In 13 Months

South Korea, Japan On Edge As Virus Spreads, Hits Economic Activity

February 21, 2020February 21, 2020

“The coronavirus appears to have hit trade quite a bit”.

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5 Comments on South Korea, Japan On Edge As Virus Spreads, Hits Economic Activity

Yen-Sanity. Dollar Delirium.

February 20, 2020February 20, 2020

It’s dizzying, to say the least.

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2 Comments on Yen-Sanity. Dollar Delirium.

‘You’re Gonna Need A Bigger Stimulus’: China’s ‘Jaws’ Moment Makes Years-Long Juggling Act More Precarious

February 20, 2020February 20, 2020

Mixing circus metaphors…

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McElligott, Kolanovic And The ‘Max Pain’ Trade

February 20, 2020January 8, 2022

What could bring back September’s shock reversal?

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6 Comments on McElligott, Kolanovic And The ‘Max Pain’ Trade

Coronavirus Worry Shifts To South Korea. Situation ‘Very Grave’ In Daegu

February 20, 2020February 20, 2020

“We plan to test all believers of that church”.

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3 Comments on Coronavirus Worry Shifts To South Korea. Situation ‘Very Grave’ In Daegu

Marko Kolanovic’s Warning: Equity Factor Bubble Now Twice As Large As Dot-Com Era

February 19, 2020February 19, 2020

“We caution investors that this bubble will likely collapse.”

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Fed Hints At T-Bill Taper In Second Quarter (And Other Highlights From The January Minutes)

February 19, 2020February 19, 2020

All anyone cares about is the liquidity spigot.

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‘Mania Has Taken Hold’, And Other Observations As The Tape Goes ‘Macro’

February 19, 2020February 19, 2020

“It’s a macro tape, you’re just living in it”.

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6 Comments on ‘Mania Has Taken Hold’, And Other Observations As The Tape Goes ‘Macro’

No Man’s Land And The Boilerplate Bond Chyron

February 18, 2020February 18, 2020

“Investors want to be long US Treasurys”.

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7 Comments on No Man’s Land And The Boilerplate Bond Chyron

All Hail The Titans

February 18, 2020February 18, 2020

Another cautionary tale?

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7 Comments on All Hail The Titans

Treasury Pulls Trigger On Russia’s Rosneft For Trafficking Maduro’s Oil

February 18, 2020February 18, 2020

“The United States is determined to prevent the looting of Venezuela’s oil assets”.

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BofA Fund Manager Survey: ‘Full Capitulation’ Into Deflation Trades, QE-Forever And MMT As Reflation Savior

February 18, 2020February 18, 2020

“New highs, fewer bulls.”

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Everyday Low Guidance: Walmart Serves Up Disappointing Forecast

February 18, 2020February 18, 2020

“The company continues to monitor the Coronavirus outbreak”.

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Apple Says It Won’t Meet Revenue Guidance As Coronavirus Fallout Begins

February 17, 2020February 18, 2020

“All of our stores in China and many of our partner stores have been closed.”

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6 Comments on Apple Says It Won’t Meet Revenue Guidance As Coronavirus Fallout Begins

What Pandemic? Not Much De-Risking Is Happening And One CIO Thinks It’s Nuts

February 17, 2020February 17, 2020

“I have never in my career seen anything as crazy as what’s going on right now.”

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8 Comments on What Pandemic? Not Much De-Risking Is Happening And One CIO Thinks It’s Nuts

Bonds, Greeks And Stubborn Greenbacks

February 17, 2020February 17, 2020

This is a good time to roll out the most nauseatingly clichéd quip in the history of market jokes…

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Chinese Stocks Recover All Post-Holiday Losses As Autos, Brokerages Skyrocket. Parliament Delay Pondered

February 17, 2020February 17, 2020

Like it never happened – sort of.

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China’s Latest Rate Cut: Here’s What It Means

February 16, 2020February 16, 2020

This paves the way for the de facto benchmark to be cut later this week.

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Japan Just Served Up One Of The Worst Quarterly Economic Contractions In History

February 16, 2020February 16, 2020

And this was before the virus.

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4 Comments on Japan Just Served Up One Of The Worst Quarterly Economic Contractions In History

A Large Butterfly Flaps Its Wings In Paris: The Early Days Of A Crisis

February 16, 2020February 17, 2020

“We have 200 people to keep alive.”

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3 Comments on A Large Butterfly Flaps Its Wings In Paris: The Early Days Of A Crisis

‘All Roads Lead To Lower Rates’: Kocic

February 16, 2020February 17, 2020

“The least ambiguous trade”…

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Bad, Worse, Ugly Or ‘Unthinkable’? One Bank Goes ‘Dystopian Hollywood’ With Coronavirus Scenario Analysis

February 16, 2020February 16, 2020

“Let’s all pray it does not come to pass.”

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Conspiracies Aren’t Conspiracies And ‘Fundamentals’ Are Malleable

February 15, 2020February 16, 2020

Ben Bernanke is the worst co-conspirator in the world.

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The World’s An Unfriendly Place When King Dollar Refuses To Roll Over

February 15, 2020February 16, 2020

“King dollar” can be a real pain sometimes.

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Monthly Letter

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