Yields, Dollar Fall As Yellen Seen Timid
“I see roughly equal odds that the U.S. economy’s performance will be somewhat stronger or somewhat less strong than we currently project.”
‘Lock In Gains And Raise Cash,’ BofAML Says. There’s Just One Problem…
“We recommend that investors lock in some gains in the stock market, re-balance to under-owned sectors and hold above-average cash.”
Did China Just Rescue Their ‘Nasdaq’ By Buying A Bunch Of Tech Stocks Trading At 40X?
“Arresting” the slide…
Kuroda Vs. The World: BoJ Moves On The 5Y As YCC ‘Mission Creep’ Looms
Dammit no one is really talking about this, but it’s definitely notable. On both Monday
Key Calls (Wednesday): Upgrades, Downgrades & Initiations
You need an upgrade.
‘Questioning Your Religion’: Crude Surges On API Data, Underscoring Manic Market
“If output doesn’t rise as much as previously anticipated, then it’s time for the bears to start questioning their religion again.”
It’s No Longer Possible That This Is A ‘Nothingburger’
“What we can say now is that this is one of the three most damaging presidential scandals of the modern era.”
‘House Of ‘Tards’: Gold, Yen Bid As Investors Seek Safety After Trump Jr. Snitches On Self
If you were looking for an interesting set up heading into Yellen’s testimony on Capitol
‘The Risk Of Impeachment Is Now Higher’: One Bank Weighs In On Trump Jr. E-Mails
“Do these most recent developments, which suggest that key Trump advisers, including his son Donald Trump Jr. and son-in-law Jared Kushner met with a Russian lawyer (who had previously lobbied in Washington against the 2012 Magnitsky sanctions act), change the potential for impeachment?”
Donald Trump Jr., Like A Nice Piece Of Laminate Flooring, Is ‘High Quality’
No such luck for Donald Trump Jr.
‘Beware Global Tapering’: Behold The ‘Safe Bond Supply Shock’
What effect will Fed balance sheet normalization have on Treasury yields? That’s quickly becoming something
Trump Jr. Tweeted E-Mails Because NY Times Had Him Red-Handed
Well, it looks like the “fake news media” isn’t so “fake” after all. Because those
Stocks Fall, VIX Spikes As Trump Jr. Tweets E-Mail Chain
As Bloomberg notes, markets are on edge “amid headlines that Donald Trump Jr. was told in an email that Russia wanted to aid Trump campaign.”
Look! More FX Shenanigans In China
If you’ve been following along over the past two months, you know China is engaged
Danger, Will Robinson! Emerging Market Bond Funds See Slowest Inflows In 23 Weeks
On Monday, we spent quite a bit of time talking about EM debt funds and
Goldman Commodities Mea Culpa: ‘We Didn’t Understand The Fundamental Rules Of Investing’
“…more importantly, the fundamental rules of commodity investing have been underappreciated both by us and by market participants.”
‘The Question At This Point’ Is Who’s Going To Jail
“From now on, ignore the conventional wisdom about how the Russia scandal is not “resonating†with President Trump’s still-loyal base. The question at this point is what strikes a chord with special counsel Robert S. Mueller III — and what kind of legal jeopardy Trump’s closest associates, including his eldest son and son-in-law, might eventually face.”
One Trader Won’t Tell About The Aliens In His Basement, But He’ll Talk About Price Sensitivity
“Rather, as we ponder the notion of a global regime change in monetary policy, and rates more broadly, it’s a big mistake not to consider that at some point issuers will be fighting to tap into a far more selectively inclined investor base.”
‘Mark It Zero!’: Goldman Says Oil Could Head ‘Below $40’
“Given the recent rebound in net speculative length from its 18-month lows, we believe, however, that a failure for these shifts to materialize soon could push prices below $40/bbl as the market tests OPEC’s and shale’s reaction functions.”
‘They Immediately Bought Dollars’: Traders Get Confused, Drive Yen To March Lows
Well, the overnight session was described as “listless” by at least one Asia-based trader as
Key Calls (Tuesday): Upgrades, Downgrades & Initiations
You need an upgrade.
‘People Are Going To See There’s No Liquidity’: EM ETFs Face ‘Minsky Moment’
As for what’s in store, Hauner warns that once “the big Minsky” moment comes, “people will be sitting on these ETFs and find there’s no liquidity.”
The Problem Isn’t That Trump Knows Nothing, It’s That He Wants To Know Nothing
“To be sure, the Trump presidency’s overt disdain for intellect did not arise in an historical vacuum. Rather, it was made possible by an underlying and longstanding cultural loathing of “mind.” Even in our best universities, where I taught international law for almost half a century (Princeton and Purdue), the headlong abandonment of intellect for commerce has been shameless and undisguised.”
An Anomaly Emerges In Emerging Markets
One fund just lost a quarter of its YTD inflows…
Goldman Is Going To Explain What’s Next For Bonds And You’re Going To Listen
Remember what I wrote last night in “Why We’re Vulnerable: CTAs’ ‘Oversized Loss’ Betrays Extreme
The Greatest Danger To America: The Politicization Of Facts
“The president’s refusal to affirm the intelligence community’s findings pushes that analysis toward the realm of political subjectivity. These data might also reflect Americans’ distrust of institutional authority more broadly—a tendency that pollster Guy Molyneux characterizes as one of the “least appreciated†characteristics of the American electorate.”
You must be logged in to post a comment.