Dissecting The ‘Incredible’ Junk Rally And The Case For A 24-Pound Bucket Of Mac-&-Cheese
Frantic rallies, tactical bounces and out of stock emergency hedges.
Search Results for: BBB
What Are Stocks And Other Assets Saying About The Odds Of A US Recession?
Remember: anything is better than Larry Kudlow’s “models”.
‘What Gives Us A Pause Here’ Are The ‘Facts’: Why The Cycle May Be Turning
Who needs “facts”?
Jeff Gundlach Gets Loose, Tells CNBC We’re In A Bear Market, Says Your SPY Is Crap
“I’m pretty sure this is a bear market.”
Here’s The Latest On The Fallen Angel Story…
It’s “barely started”.
As Chanos Warns On ‘Fragility’, Goldman Tells You Where The Tail Risks Are
Putting some nuance on Jim’s “fragility” warning and “chasing tail” with Goldman.
The End Of The Diversification Free Lunch
“Although this negative correlation might not seem like a big deal, the implications from this relationship have been enormous.”
Jeff Gundlach Is ‘Amazed’ At How ‘Copacetic’ Markets Are About Coming Credit Apocalypse
“Stay out of investment grade bonds.”
The Press Knows What Will Cause The Next Crisis, And It’s Corporate Debt
“For financial journalists, pinpointing the source of the next meltdown is no easy task. The ones who did so pre-2008Â were few.”
Rates Volatility And The Indoor Trampoline
Amid the storm, there’s one place where volatility isn’t showing up…
In Credit, Searching For The Last Straw
Yes, it’s going to crack, but where first?
Where Is The ‘Fed Put’? One Bank Answers The Big Question
We haven’t reached the pain threshold.
Mob Hit: Italian Assets Whacked In Bloody Friday Rout
Sonny on the causeway and such.
Pondering ‘The End Of Synchronized Everything’
And at the heart of it all…
‘Credibility Has Been Damaged’: Turkey Downgraded By Fitch As Erdogan Prepares To Commandeer Central Bank
Prepare to be harangued with tales of international conspiracies from newly-minted Sultan Recep Tayyip ErdoÄŸan.Â
What’s Wrong With Investment Grade Credit? Some Possible Answers As Compiled By The Macro Tourist
“Whichever reason you are partial to, at least you now have a good list of excuses to pick from as to why IG is trading so badly.”
Beware Fallen Angels: One Bank Ponders The Fate Of The European Junk Market
“… it fills us with a lot of fear [and] not just because many central banks would be relatively constrained in their ability to cut rates after their big post-GFC easing.”
Trader Asks: Does IG Know Something Everything Else Doesn’t?
“Something unusual is happening.”
‘Don’t Panic’ And The ‘Last Man Standing’
Douglas Adams time.
David Stockman On Subprime, WeWork And Beer Goggles
“Between the March 2009 bottom and the January 2018 peak, of course, they were essentially buying the dips—-about 50 of them with material dimension. The short-run narrative constantly changed—low interest rates, escape velocity ahead, synchronous global reflation, Goldilocks once more—-but the mechanic was always the same.”
Here’s Why There May Be Rainy Days Ahead For A Popular Hedge Fund Strategy
“The strategy almost looks foolproof on paper.  Yet like most things in the markets, nothing lasts forever.”
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.”
Bridgewater: ‘There’s A Much Bigger Shakeout Coming’
“There had been a lot of complacency built up in markets over a long time”…
George Soros Debunks Absurd, State-Sponsored Refugee Conspiracy Theory
“The national consultation and the release of the results are the latest elements of a massive ongoing propaganda campaign funded by Hungarian taxpayers to benefit a deeply corrupt government seeking to deflect attention from its failure to fulfill Hungarians’ legitimate aspirations, particularly in education and health care.”
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