“But here we are, with tomorrow (Wednesday August 15th), having just a shade over $23 billion of bonds expiring.”
Category: QE
One Trader Reminds You To ‘Mark Your Calendar’
“It’s that time again.”
Fate Of ECB QE Hangs In The Balance As Policymakers Say Decision On When To End Program Could Come Next Week
“It’s clear that next week the Governing Council will have to make the assessment.”
Who Really Understands The Risks? It’s Probably Not Who You Think.
I think that gets it backwards.
David Stockman: Here’s Why This Time Is Different
“But that’s not the half of it:Â Those massive buys were accompanied by a giant amplifier in the form of front-running speculators and arbitragers who hang around the casinos.”
‘Run Screaming For The Hills’: Presenting The Fallacy Of Disaggregation
“Yet, we would argue that the mere fact that investors fail to spot trouble in a single sector should not be grounds for comfort: the reason why no single sector stands out may be that all the sectors are mispriced.”
‘Reluctant’ Bulls And The ‘Psychological Risk’ Of QT
“But market narratives may dominate our rational analysis. If markets believe that global QE has been an important driver of the current rally, then its impending removal may nonetheless pose a psychological risk to investor sentiment.”
In 2019, It Turns Negative.
Plan accordingly.
Super Mario: Full Week Ahead Preview
As usual, the docket is full and the risks are multiplying.
Stark Raving Mad.
“Let me in.”
Apocalypse Now (Again).
Well for those who had their doom bunkers all prepped and ready, there’s “good” news on Tuesday – the apocalypse is back on.
‘I Can’t Do It’
“I can’t do it. I can’t embrace the machines and the vol selling and the ETF parade and the central bankers’ “communication policyâ€. So I’m NOT happy. I don’t sleep well. I DON’T trust the Fed, much less love them, and I never will.”
‘Billions And Billions And Billions’: ECB, BoJ, And Your Full Week Ahead Preview
If you didn’t get your fill of hand-wringing over DM central banks last week, then you’re in luck…
‘Beware Global Tapering’: Behold The ‘Safe Bond Supply Shock’
What effect will Fed balance sheet normalization have on Treasury yields? That’s quickly becoming something
El-Erian: 6 “Key Things You Need To Know” About Your Market “Accomplishments”
“Record levels for several widely followed country indexes occurred in the context of notably muted volatility, adding to the sense of investor comfort and accomplishment.”
Jobs Report, Chilled Urine, And Kashkari’s Rib Roast: Full Week Ahead Preview
If you were following along last week, then you already know what to look for
Peter Pan’s Revenge: Kuroda Thinks You’re Crazy To Think BoJ Is Not Still Crazy
“The moment you doubt whether you can fly, you cease forever to be able to do it.”
Nikkei Tops 20,000 On Batshit Crazy BoJ Balance Sheet; Global Stocks Rise Ahead Of Jobs
Well, the Nikkei crossed 20,000 for the first time since 2015 overnight. And really, why
“A Pretty Eclectic Collection Of Unrelated Developments”
SocGen’s Kit Juckes probably summed up the overnight session best: Overnight currency drivers have been
Kuroda Shrugs, Twitter Lampoons Sweden, Deutsche Crumbles: Welcome To Thursday
Ok, so as detailed earlier this morning, the first thing you should note about the
Visual Proof That Central Banks Killed Active Management
“I’ve gone to great lengths to try and disabuse retail of that notion, and not because I want to make people feel stupid. But rather because I want investors to understand that if central banks pull back and markets are allowed to trade in a two-way manner again, suddenly everyone is going to realize they weren’t the gurus they thought they were.”
A Good Bottle Of Scotch Would Be Nice: Making Sense Of Market Nonsense
Thank God for four months of sobriety because the old Heisenberg would have been at the bottom of a good bottle of scotch right now…
Good News! “Only” 16% Of The World’s Total Debt Now Has A Negative Yield
The only question now is whether the long list of “known unknowns” eventually conspires to put the brakes on the reflation meme and trigger a central bank response that plunges us right back down the “accommodative” policy rabbit hole.
Bank Of Japan’s Batshit Policy Prescriptions Explained In One Short Video
Summarized with a slightly modified quote from the video: “It remains to be seen if this crazy sh*t will work.”
A “Stimulating” Pocket Guide To Central Bank Largesse
On Friday in “The Ghosts Of Central Banks Past And Future,” I outlined the history
Daily Kickstart (Swedish Edition)
It makes total sense to take some money off the table. We’ve priced in no
Daily Kickstart (BoJ Recap Edition)
“European stocks climbed to their highest in almost a year, while bonds and gold fell,
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