As the quarter mercifully comes to an end, a few things have become obvious. Sometimes, the simplest strategy actually works. The SPX is up ...
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Ten Thursday One-liners
1) So Vega is in the process of imploding. This explains the shocking performance of their (large) positions: short bonds, short NZD,...
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Inconsistencies
Consider the following: 1) US fixed income trading well through funds/cash rate, pricing in 2.5 rate cuts for next year. This is a pseudo-re...
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Carry me home....
Talk about an anticlimax. The FOMC statement could be summarized in three sentences: 1) Growth is slowing; we think inflation will to...
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Ten Tuesday one-liners
1) So Hungary’s prime minister admits to a ‘ deluge of lies’ , and the HUF rallies from the London open yesterday. Anyone wearing los...
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BOND-gy Jumping
Record longs in the 10yr are beginning to tell, and there is no more room at the fixed income inn. The bond market looks set to do a bit of ...
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G7 snoozer
Well, the IMF reclaimed the mantle of irrelevancy that it has proudly borne for sixty years, as little of substance emerged from the weekend...
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RICkety Reserve Policy
This weekend sees the semi-annual confabulation of IMF grandees, G7 finance officials, and lucky boondoggle recipients convene on Singapore....
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How can there be a recession when everyone's making so much money?
One of the more entrenched and hackneyed themes in financial markets today is that the implosion of the US housing market will be the final ...
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What is the bond market smoking, and where can I get some?
Where to start? Macro Man has spent more than an hour just figuring out how to title a post and upload a chart. At this rate, the only insig...
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