“That throw away line, that people came to expect and then ignore, was very likely to have been delivered with serious intent and forethought.”
Look out below – the DAX is in trouble, down some 1.5%.
And I’m going to go ahead and assume this isn’t helping…
“By boosting returns and repressing volatility, ample liquidity is a gift for investors. It makes the investment journey pleasing, comfortable and lengthy. But it is not a destination.”
“Despite overall mixed macro data and the failure to pass health care legislation in the US, spreads on virtually all indices have converged back to their post-crisis tights.”
“I’m surprised that people didn’t already expect higher OPEC output.”
“Debelle smashed two arguments in one sitting. Two birds, one stone.”
“Concessions without reciprocation, made against the better judgment of foreign policy advisers, smack more of payoff than outreach. If this is what Trump’s version of “winning” looks like, what might further victory entail? The re- creation of the Warsaw Pact? The reversion of Alaska to Russian control?”
You need an upgrade.
In the wake of the BoJ’s Thursday decision to follow Haruhiko Kuroda further and further into policy Neverland, it’s probably worth reminding you about just how surreal the situation has become with regard to the “Tokyo Whale” and its ETF book. For those who might have missed our most recent posts on this, you’re encouraged…
“We’ve said this before and to be sure, it’s not a popular thing to say if you’re hanging out with retail investors or anyone who isn’t an active manager, but fuck it”…
“Mitch McConnell needs a white-vote count of at least fifty in order to function,” he said. “If it falls below fifty and stays there for an extended period of time, he cannot survive.”
Thursday was all about people who might have gotten away with murder…
“I was surprised. I didn’t expect the volatility selling to extend to most other financial markets. I had thought it was confined to equities, but I was obviously wrong.”
“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.”
It’s time to call bullshit.