Dysfunction Junction
Last week’s bond selloff puts the spotlight on rates in the week ahead. Although some
Last week’s bond selloff puts the spotlight on rates in the week ahead. Although some
It was as predictable as it was laughable. Stocks ended the week mostly unchanged, making
You should have bought the dip. US equities turned positive for the week on Thursday,
The FOMC event risk has passed. That was one obvious explanation for Thursday’s equity rally
If you like excitement (where “excitement” means harrowing drawdowns and vol events conducive to bombastic
I spent most of Monday going on about vol-sellers and whether they would or wouldn’t
While only time will tell whether Monday’s selloff on Wall Street was just another blip
The White House is “always monitoring global markets,” Jen Psaki said on Monday afternoon, as
Nomura’s Charlie McElligott wasn’t surprised. “Who woulda thunk it?!”, he asked, rhetorically, as risk assets
Don’t call it a “selloff” yet. After two straight weekly declines and losses in eight
Thanks to the worst session for the S&P in a month, US equities logged a
“Anecdotally, clients want to buy a pullback or deploy bullish expressions,” Nomura’s Charlie McElligott said
I suppose we’re witnessing a “selloff.” Maybe folks are front-running the pullback window. The reason
US equities are coming off their worst week since June and the fourth-worst week of
People finally get it. Or so it seems. Market participants are trying to front-run pullback
In “What Markets Are Betting On,” I talked a bit about investors’ outlook for the
It’s been 16 months since Stan Druckenmiller declared equities, broadly construed, uninvestable. To be fair,
The tail is still wagging the dog. I assume that’s obvious to those who understand
I mentioned there were two key macro narratives on Tuesday, and they’ll stay relevant even
Virtually no one that I’m aware of believes the Delta variant or associated weakness in
“Summer melt-up continues,” read one headline, on a sleepy Wednesday afternoon. I don’t know, maybe
The “doubt proved misplaced,” Bloomberg’s Lu Wang wrote Tuesday, as US equities marched toward another
Stocks may end up “trapped” again, where that means consigned to a rangebound grind, likely
It’s “everybody back in the risk pool,” Nomura’s Charlie McElligott said Tuesday, on the heels
So close, yet so far. From a cascading, selling-begets-selling, self-fulfilling drawdown, that is. For a
The Fed pretty clearly believes the market is prepared to deal with a reduction in
“The idea that somehow, there’s a way to have gotten out without chaos ensuing, I
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