“…our advice, consistent with our portfolio positions, is to continue to own as little U.S. equity as career risk allows.”
Category: Markets
Wars Of Attrition.
“…over time the cumulative cost can become very high.”
A Two-Front War, Tariff Headline Hockey And The Updated ‘SG Swan Chart’
The bottom line is that Trump has predictably boxed himself in.
‘The Worst Is Yet To Come’: As Federal Workers Tap Retirement Funds, Confidence In Economy Collapses
For the GOP, this is an existential crisis.
Mad Greeks.
“However, a move down through 2575 in SPX”…
Morgan Stanley Delivers Epic Faceplant, FICC Plunges 30%
Juuust a bit outside.
Apple’s Main Chipmaker Delivers Dour Outlook, Underscoring Smartphone Worries, Growth Concerns
In case you needed any more evidence…
‘Good’ Trump Isn’t Coming Back, Get Used To ‘Bad’ Trump, One Bank Warns
“The author does not believe markets will come back to the ‘good’ Trump story anytime soon.”
Marko Kolanovic Explains The ‘Liquidity-Volatility-Flows Feedback Loop’
“… at times of high volatility, the VIX is almost the sole driver of market
liquidity.”
Narrative Check: Brexit, Trump, China Stimulus And An Update On Charlie’s CTA Model
Ok, it’s time for “narrative” check – as it were.
Goldman Beats, Market Happy With Advisory Blowout Despite FICC Fail
Lots to digest here, but it looks like the knee-jerk is to “buy”.
Bank Of America Surges As Market Ignores Latest FICC Miss
Benefit of the doubt?
Sophia Don’t Fail Me Now: One Bank Worries ‘Algo Rally’ Will ‘Run Out Of Steam’
Who knows – maybe ask Sophia.
JPMorgan Disappoints: FICC Fail Drives First Profit Miss In 15 Quarters
“Challenging market conditions.”
Surprise: China Tips More Stimulus As Economy Falters
We’ll see what the half-life on this is.
Need Another Excuse To Short The Dollar? CTAs’ Extrapolated Longs Will Do!
Now if only Trump would let the government open…
Ok, Sure! I’ll Take A Look At That Fed MBS Runoff Vs. S&P Returns Note…
Let’s do some math-ing.
Nomura’s McElligott Weighs In On China, Stocks And Reflation Skepticism
Predictably, markets start the new week torn.
World Reacts To China’s December Trade Fumble
This will likely get worse before it gets better.
China’s December Trade Data Is, Well, Not Great…
“Juuust a bit outside.”Â
Politics As Usual: Full Week Ahead Preview
Risk on, but for how long?
‘Noise’: One Bank’s Take On US Politics In 2019
The political landscape stateside is a bit fraught right now – maybe you noticed.
Trump’s Shutdown Is Now Longest In US History – Are We ‘Great Again’ Yet?
Make shutdowns long again.
Goldman Warns On S&P Earnings Downside From Deteriorating Macro Outlook
The coming “litmus test”.
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