Lost in the noise and administrative drudgery of quarter end was a remarkable article from Bloomberg that winged its way across the informat...
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10 ways to dispose of RMB 1.55 trillion worth of bonds
Well, the initial market reaction has been to conclude that this is, after all, just another dip that we're meant to buy. While the SPX ...
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Another short-lived "crisis"?
So has this been another short-lived crisis? The S&P 500 tested and rejected a break of the neckline yesterday, while FX carry, which l...
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Curiouser and curiouser...
Is this more than your run-of-the-mill six hour bout of risk aversion? It's beginning to look that way. A number of stars appear to be a...
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Currencies get interesting
Currency markets have been relatively uneventful for the past few months (some would argue the past few years), a fact reflected that the on...
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The Sith Lord Cometh
All hail our new ruler! Those of us residing in the UK now live under the leadership of the long-suffering but now-ascendant Chancellor Pal...
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Random shots
Three random shots on a Friday morning: * Perhaps the SNB is finally getting it. This week they've allowed the 1 week repo rate to dri...
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Mr. Irrelevant
As the more scientifically aware reader will no doubt already know, today is the summer solstice and the longest day of the year in the Nort...
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Swede Emotion
It's pretty rare for Sweden to be the focus of financial markets for more than a few minutes, but such has been the case today. The Rik...
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A defensive trade that's easy to buy into
Market lethargy remains well-entrenched across a number as asset classes. That US equity indices closed within 15 bps of flat and EUR/USD ha...
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So Good It's Bad
The world seems like such a happy place this morning that Macro Man is suffering from a severe lack of inspiration. Friday's data was, i...
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Summer Reading
'Summer reading lists' are a staple feature of many commentators, both financial and otherwise. Macro Man always enjoys perusing the...
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All Aboard the Whipsaw Express
It promises to be a bit of a turbulent day today. Not only is there a raft of vital and not-so-vital data out in the US- CPI, Empire State s...
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A pleasant surprise
Macro Man finds himself in a rather unusual spot these days. Despite the recent bout of market volatility, and despite a horribly timed for...
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Show Me the Money
Tomorrow morning, at 9.30 am local time, the Swiss National Bank will announce its second quarter interest rate decision. A 25 bp rise in th...
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Science versus Myth
Well, the price action in bonds now officially qualifies as a rout. Contrary to popular expectations that things would settle down ahead of ...
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The word of the day
Readers of a certain vintage and nationality may recall the “Mr. Robinson’s Neighborhood” sketch that a young Eddie Murphy used to perform o...
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Descending the Matterhorn
Well, well, well. Say what you like about this market, but at least it appears to be getting more interesting. Apparently Macro Man wasn’t...
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What the &^%*?????
So equities stabilize, and NZDJPY decides that that merits a 2% rally on the day!?!?!? While there has evidently been demand from the Land...
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The ugliest chart you'll ever see
No time for chit-chat (or writing), but this is all you need to know about markets. The pain and ugliness is real. 5y5y inflation breakevens...
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Tighten Me Up
Macro Man’s bond purchase has not worked so far, despite yesterday’s equity sell-off. One obvious explanation why is that most developed ma...
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