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Featured

The Capex Catch-22

November 3, 2026November 3, 2026
  • Someone’s Got Work For You

    November 3, 2026November 3, 2026
  • Tech Got No Love This Earnings Season

    November 3, 2026November 3, 2026
  • Have The Hyper-Scalers Lost Their Minds?

    November 2, 2026November 2, 2026

Markets

Apple Sets A Bunch Of Records. Misses In China

November 2, 2026November 3, 2026
  • Sell-Side Sarcasm: New And Improved!

    November 2, 2026November 3, 2026
  • 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

economy

Debbie Downers Amid The Renaissance

November 2, 2026November 3, 2026
  • Polls, Projectiles And Payrolls

    November 1, 2026November 2, 2026
  • ‘Remains Elevated’

    October 29, 2026October 30, 2026
  • Boom!

    October 29, 2026October 30, 2026
  • Dissembling Strategery

    October 28, 2026October 29, 2026

Geopolitics

Let’s Talk Blue Waves

November 1, 2026November 2, 2026

Lagarde Versus Le Pen?

October 29, 2026October 30, 2026

The Tragic Irony Of The Israeli State

October 28, 2026October 29, 2026

Duly Noted

An ARM And A Leg

October 28, 2026October 30, 2026

Not Since 1969…

October 22, 2026October 24, 2026

‘Hall Of Mirrors’ Effect Strikes Again, As Bank Cites ‘Circularity Argument’ In New Fed Forecast

October 9, 2019

The tail is wagging the dog.

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2 Comments on ‘Hall Of Mirrors’ Effect Strikes Again, As Bank Cites ‘Circularity Argument’ In New Fed Forecast

‘It Really Is Going To End Very Soon’: Albert Edwards Talks CEOs, AOC And MMT

October 9, 2019October 9, 2019

“Monetary madness like we have never seen before”.

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1 Comment on ‘It Really Is Going To End Very Soon’: Albert Edwards Talks CEOs, AOC And MMT

‘Pray’ For The Kurds: Turkey Launches Syria Operation As World Holds Breath, Trump Tweets

October 9, 2019October 9, 2019

“Turkey is going to Syria to kill the Kurds”.

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4 Comments on ‘Pray’ For The Kurds: Turkey Launches Syria Operation As World Holds Breath, Trump Tweets

China Aiming For Limited Trade Deal Including Billions In Farm Purchases Despite Recent Escalations: Reports

October 9, 2019October 9, 2019

It’s hard to see how Trump would sell a limited arrangement as anything other than a campaign tactic.

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3 Comments on China Aiming For Limited Trade Deal Including Billions In Farm Purchases Despite Recent Escalations: Reports

Recontextualization Of Crime

October 8, 2019November 27, 2021

“There is some method, albeit a shallow one, to his apparent madness”.

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1 Comment on Recontextualization Of Crime

‘Correct Your Mistakes At Once’: China Not Amused With Trump’s Latest Open-Handed, Face Slap

October 8, 2019October 8, 2019

“The US side has gone one step further”.

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6 Comments on ‘Correct Your Mistakes At Once’: China Not Amused With Trump’s Latest Open-Handed, Face Slap

Pat Cipollone Says Congress Has No Right To Impeach Trump, Who Is 8 Whole Pages Worth Of Totally Innocent

October 8, 2019October 9, 2019

“Never before in our history”…

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5 Comments on Pat Cipollone Says Congress Has No Right To Impeach Trump, Who Is 8 Whole Pages Worth Of Totally Innocent

Donald Trump, Creator Of Muslim Ban, Bans Travel By Chinese Officials Who Mistreat Muslims

October 8, 2019October 8, 2019

Trump is feigning concern for a repressed people in order to secure better terms for his elusive trade deal.

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2 Comments on Donald Trump, Creator Of Muslim Ban, Bans Travel By Chinese Officials Who Mistreat Muslims

It’s Not QE, Ok?! Powell Pre-Announces QE-Lite, Hopes You’re Smart Enough To Understand It

October 8, 2019October 8, 2019

“The time is now upon us”.

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6 Comments on It’s Not QE, Ok?! Powell Pre-Announces QE-Lite, Hopes You’re Smart Enough To Understand It

Nomura’s McElligott On China’s ‘7 Deadly Sins’ And ‘Massively Skewed’ Investor Flows

October 8, 2019October 8, 2019

“The ‘partial’ trade deal story was floated into the ether last week” to an underwhelming market “meh”.

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4 Comments on Nomura’s McElligott On China’s ‘7 Deadly Sins’ And ‘Massively Skewed’ Investor Flows

‘The State Department Left A Voicemail At 12:30 A.M.’: House Democrats To Subpoena Gordon Sondland

October 8, 2019October 8, 2019

Sondland’s lawyers “have informed us that the Ambassador has recovered communications from his personal devices”…

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1 Comment on ‘The State Department Left A Voicemail At 12:30 A.M.’: House Democrats To Subpoena Gordon Sondland

Gordon Sondland, Mr. ‘Call Me’ From Ukraine Texts, Ordered By Trump Not To Appear Before ‘Kangaroo Court’

October 8, 2019October 8, 2019

“Call me”.

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1 Comment on Gordon Sondland, Mr. ‘Call Me’ From Ukraine Texts, Ordered By Trump Not To Appear Before ‘Kangaroo Court’

Facing Erdogan, Syrian Kurds Consider Asking Assad, Russia For Help After Trump ‘Leaves Them To Die’

October 8, 2019October 8, 2019

“…will be forced to study all the available options”.

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1 Comment on Facing Erdogan, Syrian Kurds Consider Asking Assad, Russia For Help After Trump ‘Leaves Them To Die’

Not ‘Fake News’: White House Plows Ahead With China Capital Flow Restrictions Discussion

October 8, 2019October 8, 2019

The administration held another round of discussions “just hours” after Navarro’s exchange with CNBC’s Kayla Tausche.

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1 Comment on Not ‘Fake News’: White House Plows Ahead With China Capital Flow Restrictions Discussion

Boris Johnson To Angela Merkel: Brexit Deal ‘Essentially Impossible’

October 8, 2019

“His strategy from day one has been for no-deal”.

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1 Comment on Boris Johnson To Angela Merkel: Brexit Deal ‘Essentially Impossible’

‘Stay Tuned’: China Warns Of Retaliation For New US Blacklist, Delegation May Cut Washington Trip Short

October 8, 2019October 8, 2019

“Correct this mistake”.

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Leave a Comment on ‘Stay Tuned’: China Warns Of Retaliation For New US Blacklist, Delegation May Cut Washington Trip Short

How The President’s Trade Tweets Made Fed Cuts A Self-Fulfilling Prophecy

October 7, 2019

Wielding the tariff gun on one’s own central bank.

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Leave a Comment on How The President’s Trade Tweets Made Fed Cuts A Self-Fulfilling Prophecy

Trump Pulls Trigger On China’s Surveillance Industry, Blacklists Hikvision, Others

October 7, 2019October 8, 2019

The timing leaves something to be desired.

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3 Comments on Trump Pulls Trigger On China’s Surveillance Industry, Blacklists Hikvision, Others

‘The Recessionary Message Is Getting Ever Louder’, SocGen Warns

October 7, 2019

“And there’s the problem”.

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3 Comments on ‘The Recessionary Message Is Getting Ever Louder’, SocGen Warns

China Totally Prepared To Give Up Nothing In Exchange For Tariff Relief, Commerce Ministry Suggests

October 7, 2019

One is left to ponder a tragicomedic outcome.

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Leave a Comment on China Totally Prepared To Give Up Nothing In Exchange For Tariff Relief, Commerce Ministry Suggests

Dianne Feinstein Demands White House Produce Transcripts Of Trump’s Calls With Xi Jinping, Others

October 7, 2019

“Congress must have access”…

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1 Comment on Dianne Feinstein Demands White House Produce Transcripts Of Trump’s Calls With Xi Jinping, Others

Pentagon, OMB Subpoenaed By House Democrats In Spiraling Impeachment Probe

October 7, 2019

As usual, noncompliance will be considered evidence of obstruction.

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Leave a Comment on Pentagon, OMB Subpoenaed By House Democrats In Spiraling Impeachment Probe

In Stream Of Syria Nonsense, Trump Reserves Right To ‘Go Back & BLAST’, Says He’ll ‘Obliterate’ Turkey’s Economy

October 7, 2019

“In my great and unmatched wisdom”…

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2 Comments on In Stream Of Syria Nonsense, Trump Reserves Right To ‘Go Back & BLAST’, Says He’ll ‘Obliterate’ Turkey’s Economy

Trump Gets Last-Minute Stay After Being Ordered To Hand Over 8 Years Of Tax Returns

October 7, 2019October 7, 2019

“The President asserts an extraordinary claim”.

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2 Comments on Trump Gets Last-Minute Stay After Being Ordered To Hand Over 8 Years Of Tax Returns

Lindsey Graham Loses It, Blasts ‘Shortsighted’, ‘Irresponsible’ Trump After Syria Decision

October 7, 2019October 7, 2019

“This to me is just unnerving to its core”.

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12 Comments on Lindsey Graham Loses It, Blasts ‘Shortsighted’, ‘Irresponsible’ Trump After Syria Decision

‘Quick Answers Must Be Found’ As Eurozone Investor Sentiment Plunges Amid Worsening German Factory Malaise

October 7, 2019

“There is no positive reaction to central banks”.

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1 Comment on ‘Quick Answers Must Be Found’ As Eurozone Investor Sentiment Plunges Amid Worsening German Factory Malaise

US Sells Out Syrian Kurds To Turkey’s Erdogan, Opening Door To Massacre

October 7, 2019October 7, 2019

“The American forces did not abide by their commitments”.

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9 Comments on US Sells Out Syrian Kurds To Turkey’s Erdogan, Opening Door To Massacre

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Monthly Letter

  • The Arbitrageur

Recent Comments

  • derek on Debbie Downers Amid The Renaissance
  • hackpoet on Let’s Talk Blue Waves
  • derek on The Capex Catch-22
  • dayjob on The Capex Catch-22

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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