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Featured

Debbie Downers Amid The Renaissance

November 2, 2026November 2, 2026
  • Sell-Side Sarcasm: New And Improved!

    November 2, 2026November 2, 2026
  • Let’s Talk Blue Waves

    November 1, 2026November 1, 2026
  • Polls, Projectiles And Payrolls

    November 1, 2026November 1, 2026

Markets

Weekly: The Leveraged Buildout (Speculative Gravity Control)

October 31, 2026November 2, 2026
  • The Problem, In A Nutshell…

    October 30, 2026November 2, 2026
  • What’s What And WTF?

    October 30, 2026November 1, 2026
  • Oil, Dammit!

    October 30, 2026November 1, 2026
  • My Goodness: Amazon Spent Some Money

    October 29, 2026October 31, 2026

economy

‘Remains Elevated’

October 29, 2026October 30, 2026
  • Boom!

    October 29, 2026October 30, 2026
  • Dissembling Strategery

    October 28, 2026October 29, 2026
  • Frozen Bubble

    October 27, 2026October 28, 2026
  • It’s All Relative

    October 27, 2026October 28, 2026

Geopolitics

Lagarde Versus Le Pen?

October 29, 2026October 30, 2026

The Tragic Irony Of The Israeli State

October 28, 2026October 29, 2026

Lula!

October 26, 2026October 27, 2026

Duly Noted

An ARM And A Leg

October 28, 2026October 30, 2026

Not Since 1969…

October 22, 2026October 24, 2026

Macro Tourist: If I Was On The Fed, I’d Be Pushing Hard For An Emergency Rate Cut

February 25, 2020February 25, 2020

“As a Fed board member, ask yourself what are the consequences of being late?”

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8 Comments on Macro Tourist: If I Was On The Fed, I’d Be Pushing Hard For An Emergency Rate Cut

Kudlow & COVID: ‘We Have Contained This’

February 25, 2020February 25, 2020

“We’re in touch with the Fed people all the time”. 

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8 Comments on Kudlow & COVID: ‘We Have Contained This’

Congrats Anti-Globalists! World Trade Just Logged Its First Full-Year Decline Since The GFC

February 25, 2020

And at just the wrong time…

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2 Comments on Congrats Anti-Globalists! World Trade Just Logged Its First Full-Year Decline Since The GFC

#STS: Save The Stocks

February 25, 2020February 27, 2020

If only there had been warning signs…

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3 Comments on #STS: Save The Stocks

Nomura’s McElligott: This Is ‘The Next Battle In Equities’

February 25, 2020February 25, 2020

And, as an aside, “Bernie Sanders matters”.

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3 Comments on Nomura’s McElligott: This Is ‘The Next Battle In Equities’

The Ice Age Is Driving The Equity Factor Bubble. And Albert Edwards Says ‘Disaster Awaits’

February 25, 2020

“I have an ugly vision of the future.”

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2 Comments on The Ice Age Is Driving The Equity Factor Bubble. And Albert Edwards Says ‘Disaster Awaits’

‘Under Control’? Markets Wary As Virus Cases Rise, Hong Kong Exports Plunge, Japan Dives

February 25, 2020February 27, 2020

“We took a hit yesterday”.

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2 Comments on ‘Under Control’? Markets Wary As Virus Cases Rise, Hong Kong Exports Plunge, Japan Dives

‘Very Good To Me’

February 24, 2020February 25, 2020

It depends on your perspective, I suppose.

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2 Comments on ‘Very Good To Me’

Macro Tourist Risks Losing Remaining Fingers, Buys Fixed Income Puts

February 24, 2020February 24, 2020

“As traders we need to consider the possibility the flu ends up being not as catastrophic as the market is currently discounting.”

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8 Comments on Macro Tourist Risks Losing Remaining Fingers, Buys Fixed Income Puts

Bail Bond: ‘Four Decimal Watch’

February 24, 2020

“I’m on ‘four decimal watch.”

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Leave a Comment on Bail Bond: ‘Four Decimal Watch’

Werewolves, Emergency Rate Cuts And Peak COVID-19 Panic

February 24, 2020February 24, 2020

A watershed moment?

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6 Comments on Werewolves, Emergency Rate Cuts And Peak COVID-19 Panic

COVID Commodities Carnage Raises Stakes For Crude Cartel

February 24, 2020February 24, 2020

Head in the sand?

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oil, OPECLeave a Comment on COVID Commodities Carnage Raises Stakes For Crude Cartel

‘Unshackled’: Gamma Collapse Opens Door For COVID-19 To ‘Shock-Down’ Stocks, Nomura’s McElligott Says

February 24, 2020February 24, 2020

“This is no drill”.

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Leave a Comment on ‘Unshackled’: Gamma Collapse Opens Door For COVID-19 To ‘Shock-Down’ Stocks, Nomura’s McElligott Says

Monday, Bloody Monday.

February 24, 2020February 24, 2020

Turmoil.

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6 Comments on Monday, Bloody Monday.

‘The World Is Getting Spooky’: Risk Assets Start New Week On Shaky Ground

February 23, 2020February 23, 2020

The market hates uncertainty…

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3 Comments on ‘The World Is Getting Spooky’: Risk Assets Start New Week On Shaky Ground

China’s Small- And Medium-Sized Companies Face Imminent Existential Crisis: Survey

February 23, 2020June 2, 2020

“A tax reduction doesn’t help if you don’t even have income”.

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4 Comments on China’s Small- And Medium-Sized Companies Face Imminent Existential Crisis: Survey

Bernie Sanders Isn’t ‘Crazy.’ But The Rest Of Us Just Might Be.

February 23, 2020February 23, 2020

Who you calling “crazy”?

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18 Comments on Bernie Sanders Isn’t ‘Crazy.’ But The Rest Of Us Just Might Be.

‘Red Alert’: COVID-19 Scare Worsens Materially

February 23, 2020February 24, 2020

A “crucial stage”.

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3 Comments on ‘Red Alert’: COVID-19 Scare Worsens Materially

‘V’ Is For ‘V-Shaped’: IMF Assumes China Will Be ‘Back To Normal’ In Q2

February 22, 2020

“We are also looking at more dire scenarios”.

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1 Comment on ‘V’ Is For ‘V-Shaped’: IMF Assumes China Will Be ‘Back To Normal’ In Q2

‘There Is Quite An Evident Contagion’: Korea, Italy, Iran Outbreaks Stoke New Virus Worries

February 22, 2020February 24, 2020

Stimulus efforts aren’t going to matter if people are confined to their homes or otherwise frightened of engaging in economic activities.

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5 Comments on ‘There Is Quite An Evident Contagion’: Korea, Italy, Iran Outbreaks Stoke New Virus Worries

‘If You Can’t Trust A Fix, What Can You Trust?’

February 22, 2020October 11, 2021

“It’s gettin’ so a businessman can’t expect no return from a fixed fight”.

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Leave a Comment on ‘If You Can’t Trust A Fix, What Can You Trust?’

Hall Of Mirrors And The Lost Art Of Controlled Burns

February 21, 2020February 22, 2020

“Afflictions”.

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3 Comments on Hall Of Mirrors And The Lost Art Of Controlled Burns

Bond Rally Has That August Feel, As Macro Scare And Hedging Flows Collide

February 21, 2020February 21, 2020

And now, back to your regularly scheduled, insane duration grab.

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Leave a Comment on Bond Rally Has That August Feel, As Macro Scare And Hedging Flows Collide

Stunning: Markit PMI Posts Wild Miss As 4-Year Expansion Abruptly Ends

February 21, 2020February 21, 2020

And that, as they say, is that.

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11 Comments on Stunning: Markit PMI Posts Wild Miss As 4-Year Expansion Abruptly Ends

Don’t Read The Fine Print On Best German Factory PMI In 13 Months

February 21, 2020

“…the observed jump in the headline index flatters the sector’s current trajectory”.

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1 Comment on Don’t Read The Fine Print On Best German Factory PMI In 13 Months

Car Sales In World’s Largest Auto Market Collapse 92%

February 21, 2020February 21, 2020

It would be comical were it not for the tragic human toll of the virus.

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4 Comments on Car Sales In World’s Largest Auto Market Collapse 924

South Korea, Japan On Edge As Virus Spreads, Hits Economic Activity

February 21, 2020February 21, 2020

“The coronavirus appears to have hit trade quite a bit”.

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5 Comments on South Korea, Japan On Edge As Virus Spreads, Hits Economic Activity

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Monthly Letter

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Recent Comments

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Monthly Letters

The Arbitrageur

October 29, 2026October 29, 2026

To Be Happy

September 4, 2026September 4, 2026

Hell Or High Fashion

July 3, 2026July 3, 2026

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