Bond Vigilantes May Be Wearing Out Welcome
It wasn’t so long ago when everybody who’s anybody feigned nostalgia for a time when
It wasn’t so long ago when everybody who’s anybody feigned nostalgia for a time when
The muscle memory that says you sell vol on any meaningful expansion and/or setback for
“Duration simply has no friends until the US data rolls over,” Nomura’s Charlie McElligott said
Last week, during an interview with The Times of India, Jamie Dimon characterized 7% Fed
“GO TIME” read the subject line of the first Q4 note from Nomura’s Charlie McElligott,
All eyes were once again on the rates complex Thursday, as traders and investors of
This week’s earliest price action underscored the peril inherent in leaning long duration into a
Surprise! Last week’s selloff in US equities, the worst since March, was in no small
Is it time for a cascading stock selloff? Maybe. Thursday’s bear steepening in the US
It’s a familiar refrain: The re-rating behind 2023’s US equity rally is incongruous with elevated
It’s virtually never been more reliably profitable to sell vol. I’ve been over this and
Time and again over the past several months, I’ve revisited the post-SVB vol crunch. This
If it feels to you like US equities are having a tough time realizing that
Fed hikes made cash great again. (Please don’t send me any novelty red hats.) From
The “dollar wrecking ball” is back. If you didn’t know better, you’d be inclined to
With allowances and respect for August payrolls’ market-moving potential, equities felt inclined to settle down
Keeping track of the macro zeitgeist in the post-pandemic world can be difficult. To the
Muscle memory is a powerful thing. And in the context of an equities market where
It’s all going according to plan. Famous last words, I know. GDP revisions released on
Stocks were supposed to rally if Nvidia delivered another blockbuster set of results. Nvidia held
I doubt there was much to distill from Thursday’s price action in US markets other
You’ve heard it again and again. Or at least you have if you frequent these
Why were US equities able to pull back? Put differently: Why was the door open
The r-star debate has well and truly gone mainstream. Ahead of Jackson Hole, Wall Street
It was a tough week for global equities. Stocks were on track for their worst
2023’s “year of the bond” mantra continues to disappoint investors who mistook a narrative for
“This is no longer a buy-the-dip market.” That’s according to Goldman’s Scott Rubner, who’s enjoyed
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