A quick look under the hood is all you need.
Category: Markets
‘This Is Much Worse Than Expected’: Analysts (Still) Struggling To Come To Terms With The Reality Of Erdogan
“Policy has gone off the rails.”
Nomura’s McElligott On Epic Underexposure, ‘Violent’ CTA Re-Leveraging And ‘Why We Melted Up’
“All of this does this”…
We’re All Japan Now: Riksbank Edition
“…our interest rate path, policy rate path speaks its own language.”
Part 2 Of The Macro Tourist’s Practitioner’s Guide To MMT
“If in the coming years politicians adopt MMT policies, your outrage will do your portfolio little good.”
Long Live The ‘King’? Defiant Dollar Bedevils Doubters
Hindsight is 20/20.
Add Bank Of Canada To The List…
“Pivots” and “relents” everywhere…
Meanwhile, Down Under…
If the die wasn’t already cast, it is now.
The Macro Tourist Presents: A Practitioner’s Guide To MMT
“MMT seems to evoke a visceral gagging reflex from most finance-types.”
Beating Dead Horses And Weaning Buybacks Off ‘Steroids’
Penning breathless missives about the impact of buybacks on equities long ago lost its novelty.
‘The Timing Is Much More Sudden Than We Assumed’: World Reacts To Trump’s Latest Iran Escalation
A bit of incredulity, but this is Trump we’re talking about, after all.
China To ‘Pause’ RRR Cuts In Possible Blow To World-Beating Stock Rally
“In the short term, it’s not necessary.”
‘My Friend Herman Cain’, WSJ ‘Scoops’ And Some Unnecessarily Biting Fed Satire
The fast track to farce…
‘Full Stop’: Trump Squeezes Iran, Risking Oil Spike
“Strategery”.
China Taps Brakes On Insane 2019 Stock Surge
Herding cats, and such.
Uncomfortably Calm: Full Week Ahead Preview
By now, you know the narrative – or at least you should.
Is The Fed Smarter Than ‘The Wisdom Of Crowds’? Goldman Answers
How many M&Ms are in this jar?
The Only Thing To Fear Is (Tariff) Fear Itself
“This was a momentum shock, not a structural slowdown.”
BofA: ‘Yield-Curve Inversion Is No Longer A Reliable Signal For Recession’
This time really is different, apparently.
‘It’s Akin To The Exit Door Getting Smaller As More People Try To Run Out’: A Simple Explainer On Volatility-Liquidity Reflexivity
“…if this is indeed the case, the reflexivity in markets ratchets up by multiple orders.”
One Trader Thinks It’s Time To Buy Equity Vol. – But Not For The Reason You Think
“…on a risk-adjusted basis, they are giving these call options away.”
‘We’re All Sick And Tired’ Of The Coalition: Italy’s Date With Strongman Rule Draws Closer
“Today as well the League threatens to make the government fall”.
‘Oh Financial Times! What Do You Know’: Erdogan Furious As World Discovers Central Bank Lying About Reserves
“[We are] under attack by Western media outlets”.
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