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Featured

The Dark Side Of Liquidity: The Genealogy Of The AI Arms Race

November 9, 2026
  • Buy The Dip? (Honeypot Training)

    November 9, 2026November 9, 2026
  • What Are Treasurys Telling Us?

    November 9, 2026November 9, 2026
  • Megaspeed Indeed. (Two Huangs Don’t Make A Right)

    November 9, 2026November 9, 2026

Markets

Jensen Got Honey-Trapped

November 8, 2026November 9, 2026
  • Weekly: Melodrama

    November 7, 2026November 9, 2026
  • ‘Dem Fatale’ Crashes The AI Party

    November 6, 2026November 8, 2026
  • On Wall Street: Crash And F’in’ Burn

    November 5, 2026November 7, 2026
  • Did Democrats Just Kill ‘New 60/40’?

    November 5, 2026November 6, 2026

economy

Inflation Week!

November 8, 2026November 9, 2026
  • Inflation Fatalism Has Set In

    November 6, 2026November 8, 2026
  • Drunken Monkey Darts

    November 6, 2026November 8, 2026
  • ‘Tis The Season! For Temporary Fulfillment Jobs

    November 5, 2026November 6, 2026
  • Senseless Iran War Triggers BoE Hike, 5% Inflation Warning

    November 5, 2026November 5, 2026

Geopolitics

Rasputin Presiding

November 8, 2026November 9, 2026

Tsunami

November 4, 2026November 5, 2026

Let’s Talk Blue Waves

November 1, 2026November 2, 2026

Duly Noted

US Jobless Claims Chase History

November 5, 2026November 7, 2026

Tech Got No Love This Earnings Season

November 3, 2026November 8, 2026

Survey Says! ‘Consequences Could Be Very Painful’

July 25, 2017

“We have had a liquidity-fueled bull market [and] if that is taken away, there is a pressure point.”

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4 Comments on Survey Says! ‘Consequences Could Be Very Painful’

As Bonds Slide, Here’s A Look At The Behind The Scenes Action

July 25, 2017July 25, 2017

Let’s just scan the tape for interesting shit, shall we?…

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1 Comment on As Bonds Slide, Here’s A Look At The Behind The Scenes Action

‘Throw Us A Little Volatility Here, We’re Begging You’

July 25, 2017

“The Fed’s halting journey toward balance sheet normalization makes Odysseus’s trip home seem like a speedy jaunt on the hyperloop in comparison.”

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1 Comment on ‘Throw Us A Little Volatility Here, We’re Begging You’

Subpoena Issued For Paul Manafort

July 25, 2017July 25, 2017

“While we were willing to accommodate Mr. Manafort’s request to cooperate with the committee’s investigation without appearing at Wednesday’s hearing, we were unable to reach an agreement.”

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5 Comments on Subpoena Issued For Paul Manafort

‘Kamikaze’: Trump Declares War On Law Enforcement With Tuesday Morning Tweets

July 25, 2017

“They bring us clearly into the territory, where we may have been for a while, of a president bent on destroying the authority of the Justice Department that he worries, perhaps for reasons only he knows, may destroy him.”

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5 Comments on ‘Kamikaze’: Trump Declares War On Law Enforcement With Tuesday Morning Tweets

‘Trapped In The Waiting Room’

July 25, 2017

“There’s no reason why you can’t be trapped in the waiting room and still keep yourself occupied and have a bit of fun.”

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‘Heavy Selling’ Seen In Treasurys After Block Trade ‘Spooks’ Market

July 25, 2017July 25, 2017

“Another wave of selling was evident after the trade was published, potentially spooking the market.”

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2 Comments on ‘Heavy Selling’ Seen In Treasurys After Block Trade ‘Spooks’ Market

Pound, Euro Suddenly Surge, Trump Tweets ‘Very Big, Exciting’ Trade Deal With UK

July 25, 2017

After regaining its footing while bumping around at a 14-month low on Monday, the broad

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1 Comment on Pound, Euro Suddenly Surge, Trump Tweets ‘Very Big, Exciting’ Trade Deal With UK

The Germans Are ‘Euphoric’ And Christian Gives You A Good ‘Poking’

July 25, 2017

“This whole idea about a higher euro being bad for exporters has quite a few things you can poke at.”

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Leave a Comment on The Germans Are ‘Euphoric’ And Christian Gives You A Good ‘Poking’

Oil Spikes Again As Saudi Export Curbs, Anadarko Spending Cuts Ignite Momentum

July 25, 2017July 25, 2017

“If Wall Street rewards them for being more reserved with their activity levels and capital expenditures, then maybe it catches on.”

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oil, OPEC1 Comment on Oil Spikes Again As Saudi Export Curbs, Anadarko Spending Cuts Ignite Momentum

Trump Says ‘Weak’ Sessions Is Hiding Hillary ‘Crimes,’ WaPo Is Helping Amazon Commit Tax Fraud

July 25, 2017

Good morning, America! Here’s some “covfefe”…

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2 Comments on Trump Says ‘Weak’ Sessions Is Hiding Hillary ‘Crimes,’ WaPo Is Helping Amazon Commit Tax Fraud

Key Calls (Tuesday): Upgrades, Downgrades & Initiations

July 25, 2017July 25, 2017

You need an upgrade.

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Leave a Comment on Key Calls (Tuesday): Upgrades, Downgrades & Initiations

Trump Demands ‘Loyalty’ From Boy Scouts, Blasts ‘Cesspool’, & Other Fun Videos

July 24, 2017

Donald Trump spent a lot of time with America’s youth on Monday.

As expected, he set a good example and his message was overwhelmingly positive. 

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3 Comments on Trump Demands ‘Loyalty’ From Boy Scouts, Blasts ‘Cesspool’, & Other Fun Videos

Goldman Exits ETF Market Making, Leaves You In Capable Hands Of “Lesser-Known” Firms

July 24, 2017July 24, 2017

“While some of our liquidity providers have narrowed their presence, it has opened the door for many more firms to enter the marketplace with positive results.”

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Leave a Comment on Goldman Exits ETF Market Making, Leaves You In Capable Hands Of “Lesser-Known” Firms

Is Trump ‘Leaking’ To WaPo About ‘Beleaguered’ Jeff Sessions?

July 24, 2017

“It is not out of the question that these leaks originated out of the White House.”

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Leave a Comment on Is Trump ‘Leaking’ To WaPo About ‘Beleaguered’ Jeff Sessions?

Monday, Monday: The Day In Charts

July 24, 2017July 24, 2017

“Can’t trust that day”…

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Leave a Comment on Monday, Monday: The Day In Charts

‘Superfirms’ And ‘The Rise Of The Zombies’

July 24, 2017July 24, 2017

“Allowing a bund shock and a credit tantrum to take hold would only pressure corporate interest costs again, and risk a rise of the zombies”…

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Leave a Comment on ‘Superfirms’ And ‘The Rise Of The Zombies’

This Top Performing Asset Should Keep Performing: Goldman

July 24, 2017

So the only question here is this: “what does Goldman think?” 

Not really, but in case that is a question you were asking yourself…

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Leave a Comment on This Top Performing Asset Should Keep Performing: Goldman

Wait, What? The Crowd Sometimes Gets It Right?

July 24, 2017

“After all, something is straight up on a stick, speculative positioning is at extreme levels – of course I am going to be an idiot and try to short it.”

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Leave a Comment on Wait, What? The Crowd Sometimes Gets It Right?

‘Tantrum Risk’ In 2 Charts

July 24, 2017July 24, 2017

Call that “the case of the disappearing diversification.”

Or just call it “rising tantrum risk.”

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Dear Fox News: You Are America’s Only Hope…

July 24, 2017

“The only authoritative voice in Trump’s divided America is the voice that helped drive us apart in the first place.”

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3 Comments on Dear Fox News: You Are America’s Only Hope…

Trump Considers Replacing ‘Beleaguered’ Sessions With Rudolph Giuliani: Axios

July 24, 2017July 24, 2017

“President Trump is so unhappy with Attorney General Jeff Sessions that he has raised the possibility of bringing back Rudolph Giuliani to head the Justice Department.”

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2 Comments on Trump Considers Replacing ‘Beleaguered’ Sessions With Rudolph Giuliani: Axios

There’s ‘A Name For That’: ‘Dictator’

July 24, 2017

“You can’t — and no court is going to rule otherwise.”

Read More

4 Comments on There’s ‘A Name For That’: ‘Dictator’

Trader: Is Yellen Trying To Drive Up Ticket Prices For Jackson Hole?!

July 24, 2017

“It’s almost as if we are stuck in neutral because they don’t want to harm the excitement of Jackson Hole. Will ticket prices decline if they don’t get to premier the hottest release?”

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1 Comment on Trader: Is Yellen Trying To Drive Up Ticket Prices For Jackson Hole?!

Jared Kushner Issues Statement, Promises He Didn’t Commit Treason

July 24, 2017July 24, 2017

“I did not collude, nor know of anyone else in the campaign who colluded, with any foreign government.”

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3 Comments on Jared Kushner Issues Statement, Promises He Didn’t Commit Treason

SocGen Asks: ‘Will Euro Strength Kill The Eurozone Profit Recovery?’

July 24, 2017

“Europe was the standout region last week, with losses across most countries with the exception of The UK, Norway and The Netherlands. MSCI Eurozone lost 2.0% during the week, nearly all accounted for by the strengthening euro. In US dollar terms the index was down just 0.2%.”

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Leave a Comment on SocGen Asks: ‘Will Euro Strength Kill The Eurozone Profit Recovery?’

Pay Attention! DAX Under Pressure Again As Automakers Plunge, Euro Weighs

July 24, 2017

Well, the fallout from Friday’s blockbuster automaker collusion report continues for Daimler AG, Volkswagen, and BMW. You’ll

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Leave a Comment on Pay Attention! DAX Under Pressure Again As Automakers Plunge, Euro Weighs

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Monthly Letter

  • The Arbitrageur

Recent Comments

  • Bobzin on The Dark Side Of Liquidity: The Genealogy Of The AI Arms Race
  • NSXNONSENSE on Buy The Dip? (Honeypot Training)
  • dayjob on Buy The Dip? (Honeypot Training)
  • therealheisenberg on Weekly: Melodrama

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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