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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

NY Times Presents: Vlad, The Trump Impaler

July 9, 2017

Their conversation boiled down to this:

Trump: “Did you do it?”

Putin: “Nyet.”

Trump: “Whew! Glad that’s out of the way.”

Read More

1 Comment on NY Times Presents: Vlad, The Trump Impaler

If This Is The Big One, ‘You’re Going To Have To See It Here Too’…

July 9, 2017

“Do as we say in rates and do as we do in credit” – or something.

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1 Comment on If This Is The Big One, ‘You’re Going To Have To See It Here Too’…

Trump: Me And Putin Forming ‘Impenetrable Cyber Security Unit’ To Make Hacking Safe Again

July 9, 2017

“Make hacking and many other negative things safe and guarded again.”

Read More

2 Comments on Trump: Me And Putin Forming ‘Impenetrable Cyber Security Unit’ To Make Hacking Safe Again

‘The Real Fun Is Just Beginning’: Quants Stare Blankly At Worst Losses In 10 Years

July 8, 2017July 8, 2017

It’s been a long time coming, but the week(s) of reckoning have finally come for

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Leave a Comment on ‘The Real Fun Is Just Beginning’: Quants Stare Blankly At Worst Losses In 10 Years

President Pence?

July 8, 2017

“The appeal of Mike Pence to many is rooted in a desire to get us back to some sort of normalcy in the presidency.”

Read More

7 Comments on President Pence?

Anadarko’s Al Walker Says US Shale Is An Alcoholic And Investors Are ‘A Problem’

July 8, 2017

“It’s kind of like going to AA. You know, we need a partner. We really need the investment community to show discipline.”

Read More

oil, OPEC5 Comments on Anadarko’s Al Walker Says US Shale Is An Alcoholic And Investors Are ‘A Problem’

What Kind Of Crook Is Donald Trump?

July 8, 2017July 8, 2017

“But what crime? Can anybody identify the crime?”

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6 Comments on What Kind Of Crook Is Donald Trump?

‘Rout,’ ‘Tantrum,’ ‘Debacle,’: One Trader Says ‘This Is All A Bunch Of Tripe’

July 8, 2017July 8, 2017

“And we have newspaper people on the payroll, don’t we, Tom?”

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3 Comments on ‘Rout,’ ‘Tantrum,’ ‘Debacle,’: One Trader Says ‘This Is All A Bunch Of Tripe’

Can Trump Pardon Himself?

July 8, 2017

“So it’s a live question: Infuriated by these investigations, will the president try to short-circuit them by pardoning himself and others caught up in the Mueller investigations? And, if he did, would those pardons be valid?”

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5 Comments on Can Trump Pardon Himself?

‘The Clock May Stop Ticking’: Oil Price Rout Bites As HY Energy Issuance Plunges

July 8, 2017

Tick, tock. 

Tick, tock…

Read More

oil, OPECLeave a Comment on ‘The Clock May Stop Ticking’: Oil Price Rout Bites As HY Energy Issuance Plunges

Surreal Picture Shows Ivanka Sitting In For Trump At G20 Summit

July 8, 2017

America is now officially a Third World dictatorship.

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8 Comments on Surreal Picture Shows Ivanka Sitting In For Trump At G20 Summit

If Trump Has Read Machiavelli, It Doesn’t Show

July 7, 2017

Including tweets? “Including tweets,” he acknowledged…

Read More

Leave a Comment on If Trump Has Read Machiavelli, It Doesn’t Show

Hedge Funds Now Most Net Short 2Y Since 2007

July 7, 2017

Yeah so, this is worth noting as you ride off into the weekend sunset..

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Leave a Comment on Hedge Funds Now Most Net Short 2Y Since 2007

‘There’s No Such Thing As A Bad Tick’ – Another Theory On Silver’s Flash Crash

July 7, 2017

Via Kevin Muir of “The Macro Tourist” fame It’s one of those periods when everything

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Leave a Comment on ‘There’s No Such Thing As A Bad Tick’ – Another Theory On Silver’s Flash Crash

Photo Of The Week: Mike Pence Visits NASA

July 7, 2017July 7, 2017

“Critical Space Flight Hardware”

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5 Comments on Photo Of The Week: Mike Pence Visits NASA

BofAML: ‘Simply Said’, Shit Just Isn’t That Volatile

July 7, 2017

You know, at a certain point this just becomes laughable and almost not worth mentioning.

Read More

1 Comment on BofAML: ‘Simply Said’, Shit Just Isn’t That Volatile

‘If I Could Slit His Neck’: HanAssholeSolo Critic Describes Alt-Right Death Threats

July 7, 2017

“Same goes for pretty much any shitlib whiny or fake-news propagandist. The only thing stopping me is that it would be inconvenient, and the fact that the law enforcement apparatus is still semi-functional.”

Read More

5 Comments on ‘If I Could Slit His Neck’: HanAssholeSolo Critic Describes Alt-Right Death Threats

Goldman Presents: 3 Reasons For Equity Investors To Fear A Slowdown In Global Trade

July 7, 2017

So obviously, deglobalization is a terrible idea. It’s a step backward in time. It represents

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1 Comment on Goldman Presents: 3 Reasons For Equity Investors To Fear A Slowdown In Global Trade

Trump & Putin: The Forgotten Hits

July 7, 2017

“I’ll be watching you”…

Read More

1 Comment on Trump & Putin: The Forgotten Hits

The Risk Parity Unwind Is Underway – But One Strategist Says It’s Fine

July 7, 2017

Given what we’ve seen this week in terms of DM yields spiking and that spilling

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1 Comment on The Risk Parity Unwind Is Underway – But One Strategist Says It’s Fine

Politically Normalizing Abnormal Psychology

July 7, 2017July 7, 2017

“Lincoln had his Gettysburg Address. Franklin Roosevelt had his Four Freedoms. But modern schoolchildren will learn the Mika bloody face-lift tweet.”

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2 Comments on Politically Normalizing Abnormal Psychology

By One Measure, We Passed The Tech Bubble A Long Time Ago…

July 7, 2017

Someone besides tech needs to start making some goddamn money.

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Leave a Comment on By One Measure, We Passed The Tech Bubble A Long Time Ago…

‘It Could Have Been Deliberate’: Silver Flash Crash Theories Abound After ‘Glitch’

July 7, 2017July 7, 2017

“It could be a deliberate move. It happened when the market was illiquid,” Norman notes, adding that “any person who wants to do that wants to push markets lower.”

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1 Comment on ‘It Could Have Been Deliberate’: Silver Flash Crash Theories Abound After ‘Glitch’

Treasury Yields Dive (And Then Bounce) After AHE Miss

July 7, 2017July 7, 2017

Aaaand knee-jerk, then reverse plz. Ok thnx. Bye.

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Leave a Comment on Treasury Yields Dive (And Then Bounce) After AHE Miss

Jobs Report Beats, But Average Hourly Earnings Misses

July 7, 2017July 7, 2017

U.S. June Nonfarm Payrolls Rose 222k; Unemp. Rate at 4.4%

Avg. hourly earnings 0.2% m/m, est. 0.3%, prior 0.1%

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Leave a Comment on Jobs Report Beats, But Average Hourly Earnings Misses

Oil’s Woes Continue As Prices Abruptly Sink (Again)

July 7, 2017

In what is becoming a daily occurrence, crude took another dive earlier this morning as

Read More

oil, OPECLeave a Comment on Oil’s Woes Continue As Prices Abruptly Sink (Again)

Yen, Pound Nosedive, BoJ Reminds You Who’s In Charge Here

July 7, 2017

Right, so first thing Thursday morning we noted that 10Y JGB yields had risen to

Read More

1 Comment on Yen, Pound Nosedive, BoJ Reminds You Who’s In Charge Here

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Monthly Letter

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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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