Nomura’s McElligott: ‘Second-Order Melt-Up’ Setup Still In Play
“Doing their thing”.
“Doing their thing”.
…efforts to speculate on how far stocks might fall proved superfluous.
“One might, perhaps, see the recent price-action of the Tesla as supportive of this idea.”
These are the kinds of headlines which have made investors reluctant to carry risk into the weekend.
“Markets appear sanguine, but at the very least”…
New virus numbers, surging stocks, tumbling Tesla and a VP on the ropes.
Of course, it’s far too early to sound the all-clear.
Inflation jump drives real rates further into negative territory, while Erdogan “neutralizes” nearly three-dozen of Assad’s troops.
There’s plenty of nuance.
It’s starting to feel like August all over again for markets.
At least he knows what to say when asked if the Fed is in the bubble-blowing business.
Quite a bit to digest, but perhaps not much to move markets other than at the very front-end.
“I will caveat that although I am certain of the denouement, it is possible its date is vastly longer than my career”.
Not that anyone cares amid the virus headlines, but maybe they should – care, that is.
“Very few people on the streets, everyone wearing face masks”.
“…it is becoming more of a self-reinforcing process with changes in VIX causing changes in the underlying asset”.
It was risk-off out of the gate Monday.
“There is a risk of an exponential outbreak”.
Priceless market humor.
“The market currently is not pricing any significant risk”.
When it rains bullish catalysts it pours, but under the hood, questions linger around the reflation narrative.
After nearly four decades, the bond bull refuses to roll over.
Maybe the “slow-flation” trade isn’t a “relic” after all.
“Plain English”.
“…everything really is awesome”.
“Improvement” may be such a relative term right now as to be nearly meaningless.Â
Happy new year.
You must be logged in to post a comment.