Volatility Shocks Have Consequences
“Volatility’s your exposure toggle.” You’ve heard that tagline before. It’s one of several attributed to
Albert Edwards Got His Crash
As time marches on, there are few of us left who were in the industry
Overhyped US Jobless Claims Update Produces No Fireworks
There was high drama around Thursday’s jobless claims update in the US. The justification for
The $4 Trillion Unwind
How big’s the yen carry trade? In recent days, the existential character of that question
A Quick Word On A Bad Auction
In light of recent fireworks across the US rates complex, and considering 10-year yields are
That Wasn’t A Selloff
Don’t call it a selloff. Seriously. Do yourself a favor. Earlier this week, a lot
Why The Crash-Down Rebound Won’t Morph Into A New Crash-Up
If you’re wondering what typically happens to equities and the VIX following two-session spasms akin
US Mortgage Rates Plunge, Fanning Talk Of Late-Summer Housing Thaw
Stressed out, would-be American homeowners packed like sardines into cramped apartments with their spouses and
Bank Of Japan Apologizes For Blowing Up Global Stock Rally
Sorry about that. So said influential BoJ deputy governor Shinichi Uchida, only not quite in
Wall Street Bloodletting Pauses. But Don’t Call It Stability
I wouldn’t call it “calm.” “Stability” would be a misnomer too. But the bleeding stopped
Betting On ‘Weird’
She went with Mr. “weird.” Kamala Harris chose Midwestern dad Tim Walz as her running mate
Is The Selloff Over?
Wall Street attempted to recover on Tuesday after a rather harrowing start to the week.
‘Cool Heads’ And Adrenaline Junkies
The adrenaline junkies among you are having a grand ole time. Hot on the heels
Traders Rushed To Hedge As Crash Ushered In A Whole New World
The outcome distribution for markets expanded meaningfully over the past several sessions. Maybe you noticed.
Global Game-Changer: ‘Biggest Carry Trade The World Has Ever Seen’ Unwinds
If anyone asks you what, exactly, happened to markets on Monday — a session that’ll
What Happened To The VIX?!
“What’s going on with the VIX?!” That’s a question I’ve heard half a dozen times
Chaos Reigns As US Curve Dis-Inverts, Market Pleads For Emergency Fed Cut
The US 2s10s curve dis-inverted on Monday, however briefly. Amid a bout of extreme global
US Services Sector Argues Against Recession Narrative
If you could get past the deluge of dire headlines on Monday, there was some
In Asia: Black Monday
If you were wondering whether the selling was over — whether last week’s risk-off tone
Albert Edwards Sees Recession, Deflation And Also Inflation
Albert Edwards’s tech “crash” call isn’t looking too shabby three weeks later. Or not too
Remain Calm: Buffett Goes To Cash
Regular readers know I have a hard time feigning interest in what Warren Buffett’s doing
Shell-Shocked Stocks Confront 2024’s First Real Deleveraging Event
Weary market participants hungover from one of the more rollicking stretches in recent memory get
Wilson Flags Consumer Strains, Stock Downside On Revisions Disconnect
Just how weak is the American consumer? That’s what Morgan Stanley’s Mike Wilson wants to
#Sahm Sparks Market Pandemonium
If there was a silver lining in an otherwise bad week for equities and risk
Buy The Dip Or Sell The Cut?
Did you buy the dip? US equities will head into a very challenging seasonal down
Vol Complex Goes ‘Bonkers’ Into Stock Plunge
“Vol of vol never lies,” Nomura’s Charlie McElligott said Friday, as the VIX squeezed higher
Stark Raving Mad: US Rates Go Wild On Fed-Cut Bets
As you might imagine given the mood (read: blood) on Wall Street and the blaring
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