Behold: An ‘Incubator For Vicious Steepeners’
Something tells us this is an underappreciated tail risk, indeed.
Search Results for: dollar intervention
David Stockman Presents: The Revenge Of Bad Money
“At length, you get Donald Trump instead, and you get his half-baked advisor, Peter Navarro, on bubblevision explaining that protectionism is the new route to free trade.”
David Stockman: That ‘Unicorn’ Isn’t Real
“The single most important price in all of capitalism is the interest rate—-and at all points on the maturity curve. And the single most important truth about honest interest rates is that they must be discovered by markets, not imposed by the state.”
Just One Question: Do You Have ‘A Coherent Explanation For Precisely What Is Going On’?
If not, maybe just sit this one out.
Nightmare In Japan As Stocks Collapse Amid Yen Surge
It was a black day for equities in Asia and Japan was hit especially hard.
This Is What A Broken Market Looks Like: No One Traded 10Y JGBs On Tuesday
Completely lifeless.
This Means War.
Thursday went swimmingly.
David Stockman Presents: A $67 Trillion Nightmare
“To wit, there never would have been a double inverse VIX ETF under a regime of honest money and free market financial discipline; nor would you find European junk bond yields trading inside of US treasuries.”
David Stockman Presents: The Folly Of 2% Inflation Targeting
“At the end of the day, the real scandal of central banking is that it takes credit for what it doesn’t cause and can’t achieve in the main street economy, while ignoring the mayhem its machinations bring to the financial system.”
David Stockman: Now Is Not The Time And Place For Nosebleed PE Multiples
“…the very idea that you would pay 26X EPS for the S&P 500 at the tail end of a 103 month long recovery cycle is truly ludicrous.”
Let The Currency Wars Commence: Amid USDJPY Slide, One Bank Asks What’s Next
Everyone wants to know what comes next.
The Gun’s Not Loaded!
“Stirred, in a half-carafe.”
David Stockman: Bubble Finance Is Destroying Rationality
“That’s right. Heisenberg reminds us this morning that we are in undisputable record territory. It has been fully 395 trading days since the market had a 5% drop, and that’s never happened before in all of recorded history.”
Kanye Shrug.
And that’s the week.
Yuan-na Bet? Germany, France Add Chinese Yuan To Currency Reserves
Celebrate “diversity”.
Missing: Jamie Dimon’s Bitcoin Balls. If Found, Please Return To 270 Park Avenue
“I’m not interested that much in the subject at all.”
Ripple Reality Vs. ‘Crack Crypto Cocaine To Retail Addicts’
“…you still need to assume that the major central banks simply pat Ripple execs on the fanny, say good game and thank you for destroying big chunks of our business, we’ll just sit in the corner and go f*ck ourselves as you steal our money printing power.”
‘Sky Is The Limit’: Fallout Feared From Conviction Of Turkish Banker In Iran Sanctions Trial
“The charges are so grave (essentially implicating the current president of Turkey) that one may say ‘sky is the limit’ as far as the magnitude and scope of potential sanctions go.”
One Bank Reveals 7 Key Calls For The New Year
But for those interested in trying to “DO SOMETHING” (as opposed to just kicking back and being “actively” passive)…
‘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.”
Can You Feel The Tension?
Nobody strike a match.
Krugman Rips Trump, John Kelly, John Taylor: ‘See? I Made A Joke!’
“But we are living in the age of Trumpal infallibility: We are ruled by men who never admit error, never apologize and, crucially, never learn from their mistakes. Needless to say, men who think admitting error makes you look weak just keep making bigger mistakes; delusions of infallibility eventually lead to disaster, and one can only hope that the disasters ahead don’t bring catastrophe for all of us.”
‘They Wanted To Kill The Bulls’: Analysts Scramble To Explain Sudden Crash In Hong Kong
So what accounts for that? Well, no one knows exactly. “Some bearish investors were looking for excuses to ‘kill the bulls.'”
Circus.
Come one, come all.
Let’s Not All Panic About The Slowest Pace Of FAI This Century In China, Ok?
That’s cause for concern. Given that the country is the engine of global growth and trade, you don’t want to see the brakes slammed on. That said…
Euro Slides As ECB Deploys Favorite Jawboning Method: Anonymous Reuters Piece
“The exchange rate has become a bigger issue,†one of the sources told Reuters. “It is now less favorable for an exit and a stronger argument for a muddle-through option.â€
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