Here’s Something That Will Never Happen, But Probably Should…

“The only thing it will accomplish is forcing, as well as encouraging, investors to carry on with the types of trades every right-minded observer thinks has a large element of recklessness.”

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Stocks Fly To Records, Global Risk Rally Continues As Bad Data, ‘Good’ Yellen Keep Hope Alive

The message is loud and fucking clear: the vol. seller’s/ carry trader’s paradise and the risk party that’s made every homegamer with some SPY and QQQ look like a guru for the past eight years depends on DM central bankers staying some modicum of dovish. And on that score, bad data helps.

Stocks Surge On ‘Good Cop’ Yellen; Trader Makes ‘Unprecedented’ $10 Million Bond Bet

Well, the message from Yellen was heard loud and clear and amusingly, so was the message from Stephen Poloz. In fact, you’d be forgiven for thinking they coordinated to make sure one offset the other. The BoC hiked, as expected, but “expected” is a relative term here. Because the whole abrupt shift in rhetoric that culminated…

‘They Immediately Bought Dollars’: Traders Get Confused, Drive Yen To March Lows

Well, the overnight session was described as “listless” by at least one Asia-based trader as markets are i) laser focused on Yellen’s testimony and ii) anxiously waiting for the Bank of Canada to see if the “hawks take flight”, as it were. “Asian currencies are trading listless ahead of Yellen’s testimony,” Andy Ji, a Singapore-based…

O, Canada! China?! Yellen Yellin’: Full Week Ahead Preview

Ok, well this should be an interesting week. We’ll get the BoC, which will make Bloomberg’s Luke Kawa happy because it means Canada will be in the spotlight for once. He’s got some fun Canada-themed socks we imagine he might wear on Wednesday. “The recent avalanche of hawkish messages from the BoC, as well as…