Hold your breath for fiscal stimulus.
Category: Markets
‘The News And Data Have Clearly Worsened’, It’s ‘Time To Play Defense’, One Bank Warns
“Every major economy is seeing a full-blown industrial/manufacturing slowdown”.
Chinese Corporates To Default On 40% Of Stressed Dollar Bonds Next Year, Bloomberg Imagines
Some expect a “wave” of credit stress.
‘The Fed And ECB Are Amateurs’: Albert Edwards Says More ‘Monetary Madness’ From Japan To Intensify Global Currency War
“A whole new level of monetary debauchery”.
Former Officials Say Fed Should Buy $250 Billion In Assets Soon, Consider Change To Target Rate After Repo Chaos
“This episode indicates that the operational framework… is not as resilient as it could be”.
As Fed Upsizes Repos, Kocherlakota Says ‘Something’s Very Wrong With The Financial System’
“Basic functions” have been disrupted.
Saudi Oil Capacity Now Rapidly Recovering From Devastating Attack, Aramco IPO Suddenly Imminent
Draw your own conclusions.
‘It’s Happening Again’, Nomura’s McElligott Warns On Risk From ‘Daisy-Chained’ Crash Hedges
Dry kindling waiting for a match.
Macro Tourist: ‘I Have Abandoned My US Equity Longs, Am Leaning Short On A Trading Basis’
“Why the shift in tone? Let me sketch out.”
‘Downside Accelerants’ And Politics In Focus As US Stocks Stumble
Impeachment bluster and aggressive trade banter make for a bitter pill.
Trump’s UN Broadside Against China Risks Derailing Fragile Negotiations – Again
“Two decades later, this theory has been tested and proven completely wrong”.
Saudi Aramco IPO ‘Unlikely’ This Year, As Attacks Derail Plans: Sources
But who knows, anything is possible…
China Is Buying Soybeans Again, Providing More False Hope To Trump’s ‘Great Patriot Farmers’
Stringing people along, as is custom.
All Of This Summer’s Big Daily Stock Moves Had One Thing In Common…
“Price movements over this summer once again clearly emphasized the spot/gamma/realized vol dynamics”.
‘Why, Just Out Of Curiosity?’: Watch Trump Ask Mnuchin To Explain Canceling China’s Farm Visits
All you can do is shake your head.Â
Bullard Talks Up Standing Repo Facility To Fix Funding Squeeze, Says Negative Rates Are Unhealthy
“You probably would not have to use it most of the time”.
Trio Of Economists Say Trump’s Twitter Account ‘Poses Significant Threat To Central Bank Independence’
This is “strong evidence”.
The US Economy Is Good, Bad And Ugly
The US economy has peaked and nonfarm payroll growth is set to slide, says possibly spurious conjecture.
‘Markets Were Not Effectively Distributing Liquidity’: John Williams ‘Explains’ Repo Chaos, Paves Way For QE-Lite
“This episode reminds us all of the importance of having well- functioning markets”.
Another Growth Scare? From France To South Korea To Down Under, Fresh Data Paints Dour Picture
We’re not out of the dark woods yet.
Nomura’s McElligott Talks ‘Unshackled’ US Equities Amid ‘QE-Lite’ Anticipation
Mind the post-crisis “muscle memory” for the majority of equities investors.
‘Simply Awful’ German Factory Slump Spills Over, As Economy Careens Towards Recession
“All the uncertainty is paralyzing order books”.
Trump Not Yet Facing Enough Political Pressure To Strike Trade Deal With China, Goldman Says
The trade war is unpopular, but…
‘It’s Troubling When The Unthinkable Becomes Routine’: BIS Warns Monetary Policy ‘Needs A Helping Hand’
“Markets oscillated. Trade tensions pushed them down; monetary policy propelled them up.”
China’s Cancelation Of Montana Farm Tour Had ‘Nothing To Do With Trade Talks’: Report
Good news, apparently.
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