This Is The “Single Largest Macro Factor” Shaping Markets
“Oil is being hit by rising U.S. production, copper’s fall was triggered by the whopping LME stockpile-build, iron ore slumped on China concerns, agricultural commodities reversed after a U.S. storm caused less damage than originally feared, and gold is getting hit by the marginally more hawkish Fed and the perceived reduction in European political risk.”
Key Calls (Friday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
In Your Own Little “Bubble”
All I know is that things are looking choppy here on the island…
Travesty Of Justice: Bombay Sapphire Recalled For Getting People Too Drunk
Clearly, there is only one question worth asking here…
“Will The Gold Sell-Off Continue?” Goldman Answers
The Heisenberg crowd is well aware of how we feel about gold. Although it might
Kolanovic: Here’s What Could Make “Volatility Explode”
Gandalf is back. A couple of weeks after retracting (at least partially) his “buy every
This Is What A Contrarian Indicator Looks Like
“In the month following that extreme short positioning reading, 10y rates rallied 16bp as specs closed out almost the entirety of their shorts. 10y rates are lower by 30bp since their 13 March close. Positioning has now swung the other way, and we think this bodes well for bond bears over the next month.”
Yesterday, Goldman Brought Out Their “Metal Detector” – And Then Today, Tomorrow Happened
“The substantial move lower today was predominantly driven by ‘micro’ and technical factors, in our view, though it was set against a backdrop of broader macroeconomic concerns.”
Halloween-Themed Russian Propaganda Site Uncovers Nefarious Syria Plot
“…at the separate command of a mastermind.”
Good News! There’s A 2/3 Chance This Recovery Will Be The Longest In US History
“The bad news is that medium-term recession risk is now rising.”
Guest Post: Wallace Prepares To Buy Some Silver
“The hardest trades are often right ones. I am not sure if it is brave or stupid (and probably a bit of both), but I am going to be buying silver down here.”
“Psst!”: Be Wary Of Those Trying To “Sell You A Narrative”
“Not every change in asset prices signals a new and lasting paradigm shift.”
Thursday Humor: Define Irony
Presented with no comment…
Here’s The Metals Mayhem In One Idiot-Proof Chart
Ok, so this is a simple one and that’s on purpose.
Albert Edwards Is Back From Barbados And He’s Got (A Lot) He Wants To Tell You
The problem with ‘healthy debateÂ’ is that so many people back themselves into a corner and take any contrary opinion as a personal attack on their very identity as a human being.”
Bloodbath: “Nightmarish Picture” For Iron Ore Triggers Metals Mayhem
“Iron ore demand is waning, which, against backdrop of near-record/record inventories and aggressive Chinese and seaborne supply, paints a nightmarish picture”…
Trader: Sunday Will Be The “Final Nail In The Coffin” For Euro Bears
“Those who trade on systemic market risks need to know when their expiry date has passed. It’s time for the euro to enjoy its life out of the limelight and let some other asset be the focus of market worry.”
Key Calls (Thursday): Upgrades, Downgrades & Initiations
Are your stocks on the list?
10 “Other” Things Nassim Taleb Can Teach Us
And now, right back to it. A bullshit piece was published on Tuesday over at
Trump Cancels Cinco De Mayo – Then Decides To Make Mike Pence Do It
“It’s unclear whether President Donald Trump, who marked Cinco de Mayo last year with a tweet about a taco bowl, will attend.”
Your Complete Visual Guide To The May FOMC Statement
“LaVorgna is out this afternoon with a visual tour of the May FOMC statement which we sincerely thank him for providing because just about the only conceivable way to make this meeting exciting is to draw some pictures”…
“Mark It Zero!” Goldman’s Top 10 Options Trades To Capitalize On Low Vol
“Smokey, this is not the pre-crisis world, there are rules, mark it zero.”
SocGen: Algos Gone Wild, HFTs Causing “Extreme Volatility” In Metals Market
“The jury is out as to whether these players are good or bad for the market.”
Fed Statement Redline, Word Cloud
Take it to your local palm reader.
Chart Of The Day: “Assume The Position(ing)”
We’ve written quite a bit over the past several months about the importance of watching
The Cost Of Trump’s 15% Business Tax Rate: $2 Trillion Or, 28.5 Border Walls
“The upshot is that the 15% business tax rate in the White House proposal could cost almost $2 trillion over 10 years, with about half of the cost arising from plausible income shifting.”
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