ECB’s Frantic Hike Out Of NIRP Ends. Future Uncertain
The ECB kept rates steady on Thursday, as expected. The decision was notable. Or as
Meta Beats, Reality Labs Bleeds
Meta topped estimates in Q3 results released after the bell in the US on Wednesday.
Any Old Mike Johnson Will Do
Say congratulations to Republicans: They managed to elect a House speaker. I joked Tuesday that
Confused Rhino
Anyone in need of respite from the roller coaster that is the US bond market
Largest Treasury ETF Is Market Obsession Amid Epic Bond Turmoil
The largest Treasury ETF became a source of intense — and I’ll eschew the temptation
Buyback Rebound Will Prove Elusive, BofA Suggests
Buybacks: Who doesn’t love them? Buybacks are shareholder capitalism’s crowning achievement. It’s stockowners who matter
The Perils Of Scandalizing Context
Israeli diplomats, including Foreign Minister Eli Cohen and UN Ambassador Gilad Erdan, are furious with
New Home Sales Surge As Prices Plunge. Rates At 8%
New home sales exploded higher in September, data released on Wednesday in the US showed.
Microsoft, Alphabet Wave Large Numbers Around
Microsoft topped sales and profit estimates with fiscal year Q1 results released after the bell
The Perils Of Price Discovery
How important was the term premium in explaining the escalatory selloff in longer-dated US Treasurys
US Soft Landing ‘Likely,’ New PMIs Suggest
Economic activity picked up this month in the US, preliminary PMI data released on Tuesday
Vol Sellers Abound Ahead Of Mega-Cap Earnings
Vol-selling across the equities options space was “unrelenting” late last week and early this week.
Xi Shows Up At Central Bank, Ousts Defense Minister
Xi Jinping made an unprecedented visit to China’s central bank on Tuesday and Beijing removed
Dour PMIs Point To Entrenched Stagflation In Europe
The eurozone economy is in a recession. Or something that looks a lot like a
Why Marko Kolanovic And JPMorgan Are Still Cautious
If you’re wondering why JPMorgan remains defensive in their asset allocation (and cautious in their
Winning The Life Lottery
Are we in a late-cycle backdrop? Or are we in the process of witnessing “immaculate
Thanks For Playing! Bill Ackman’s Bond Short Was Short-Lived
Everybody look at Bill. Bill needs to be reminded how important he is. You can
Are Stock Bears ‘Vindicated’?
“Somewhat vindicated.” That’s how one mainstream financial media outlet described the persistently bearish view harbored
5%: US Treasurys Or GameStop?
10-year US yields, the benchmark of all benchmarks, breached 5% on Monday for the first
Swissy Never Lies
What’s the best hedge for geopolitical turmoil? That question’s a bit of a red herring.
Don’t Forget The Mega-Caps
What’s next for US equities? At the risk of stating the obvious, a lot depends
US Prepares GDP Scorcher As Fed Goes Silent
US economic exceptionalism should be on full display this week. The advance read on Q3
An Unruly Kite
Where’s the peak for 10-year US yields? That’s not just a question, it’s the question.
For Whom The Bell Tolls
Things are about to get real for corporates with a steep maturity wall. Even for
Why Friday’s Stock Selloff Got No VIX Response
Remember the call spread buyer? If not, I won’t trouble you with the specifics on
The World’s Burning. And US Treasurys Can’t Save You
Shouldn’t US Treasurys rally in the face of the dangerous realities on display in the
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