The question is no longer “How long until something breaks?” Something broke this week. It
Category: Markets
(In)credible Cold Turkey Moments
“Markets stop panicking when central banks start panicking.” That’s a familiar refrain. It’s another way
It Didn’t Last
It didn’t last because it couldn’t. The bid for risk catalyzed by the Bank of
Germany To Borrow €200 Billion For Energy As Inflation Nears 11%
Markets were handed another stunningly dire German inflation outcome on Thursday. The harmonized gauge showed
It’ll All Be Fine. Truss Me.
A renewed sense of angst was evident across markets Thursday, as the respite provided by
Pension Panic Puts Central Banks Back In Intervention Mode
September 28, 2022, was the day central banks were forced back into intervention mode. For
BoE’s Rescue Mission At Odds With Fed’s Inflation Fight
Part of me doubts this needs restating, but given the historic nature of the circumstances,
Druckenmiller’s Bold Call: ‘Something Really Bad’ Could Happen
Stop whatever you’re doing! Stan Druckenmiller wants to say a couple of things. My overriding
‘A Forced Pension Fund Bailout. Full Stop’: McElligott On BoE
“Why were they forced into this at a time where they’re seemingly so keen on
BoE Will Buy Unlimited Bonds To Stem Crisis. QT Target ‘Unaffected’
Just yesterday, Bank of England Chief Economist Huw Pill said plans to proceed with quantitative
Pressure Cooker
“You’re not leaving much time to sort of look at each monthly release,” Charles Evans
2022’s Bear Goes From Bond Collapse To Risk-Off
The worst rout in global government bonds since 1949 rolled on Monday, as US yields
BoE Tempts Traders With Boilerplate Bailey Statement
The Bank of England on Monday did precisely what you don’t want to do in
‘Plaza Moment’ Pondered As Dollar Makes ‘Everything An Emerging Market’
Market chatter around the prospect of a global accord aimed at halting the dollar’s inexorable
UK Financial Crisis: Analysts Weigh In On ‘Calamity’
I doubt I was alone Monday in scouring the thesaurus for adjectives sufficient to convey
Carnage: Pound, Gilts Suffer Total Meltdown
Carnage. That’s the best one-word description of the market revolt unleashed by Liz Truss and
The Usual Bearish Suspects
Among the responses to “Apocalypse Soon” was a reference to the “usual bearish suspects.” We
Like March 2020. But Without A Backstop
Markets can look forward to incessant Fed banter in the new week. And I do
Runaway Inflation In Europe: Does The ECB Even Matter?
In addition to a cacophony of policymaker soundbites, traders will be compelled to grapple with
Pressing Shorts To Save The World
A key consideration when you ponder the prospect of a global financial meltdown, is the
Apocalypse Soon: The Fed Is Risking A Global Financial Crisis
How many times have I talked about a “breaking point” for markets in September? A
Charts From ‘Black Friday’ In The UK
Via Alpha Exchange. Get the podcast here Black Monday (10/19/1987), Black Tuesday (10/29/1929), Black Wednesday (9/16/1992), Black
Truss Plan Pushes UK To Edge Of Crisis
“Casino economics” that will “end in tears” with a possible run on the pound. That’s
The Wrecking Ball
Currently, data which suggests the US economy is picking up momentum (as opposed to losing
Europe Set For Bear Market, Recession As Money ‘Pours Out’
Risk assets were in trouble Friday, as European shares careened lower amid poor data, war
Goldman Takes Axe To House S&P Call
In a high profile, if not wholly unexpected, call, Goldman slashed its year-end S&P 500
What If It All Comes Apart?
Considering markets as we’ve come to know them over the past decade (or three) were
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