The answer to last weekend's quiz was as follows: Sydney 8.50 London metro 8.30 Perth 8.00 Vancouver 7.70 NY metro ...
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Protectionism = bad
...unless you're the Commerce Department or a US manufacturer of coated paper. The announcement of the imminent imposition of tariffs ...
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Tradin' around
Macro Man is long some 108 TYM7 puts expiring in 3 weeks. With the future close to strike and plenty of potentially market moving data toda...
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Three myths
It is month and quarter end (and indeed year end, if you're Japanese) today, which should provide all sorts of fun and games for markets...
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You don't know what you're doing
Confused yet? Macro Man is and, judging by the schizophrenic behaviour of risky assets, bonds, and currencies over the past 24 hours, he is...
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Not-so-gentle Ben
Early comments to hit the tape from BB throw no liquidity bones to risk assets. - Inflation remains predominant concern - Incoming data su...
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A Raisin in the Sun
“What happens to a dream deferred? Does it dry up like a raisin in the sun?” - Langston Hughes Just when you thought it was safe ...
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Carried away
Macro Man's signal for his FX carry basket was triggered, so he has exited the carry basket first thing this morning. It looks like he ...
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Proxy battle
It’s been another fairly quiet day so far as markets digest yesterday’s impressive mid session rally in US equities. Although the Nikkei ha...
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Ouch
Ouch. That new home sales data was bloody awful...no way to sugar coat that. Macro Man still believes that this is a 1994/5 story rathe ...
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Monday, Monday
Well, it’s been a quiet start to the week, to say the least. Equities are doing little, bonds are drifting lower (including JGBs, taking Ma...
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Weekend quiz
Given the ongoing obsession with the US housing market, Macro Man thought it would be fun to have a quiz on housing. List the following 1...
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A piece of history
Yesterday saw the release of an historic piece of data. For the first time since the bubble burst, Japanese land prices rose on the year . ...
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The most valuable sentence in the world
"Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming i...
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I heart risk
The market loves risk, courtesy of yesterday's Fed shift. If seems one needs an adavanced degree in semiotics to decode the subtletie...
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Zowie!
Well, the Fed slammed the door on the tightening bias, somewhat to Macro Man's surprise. Perhaps you can take Ben out of the helicopter...
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Fed up with these trades
In advance of the Fed announcement tonight, Macro Man has filled on his sale of 15 million EUR/HUF at 248 spot basis (248.33 to 04 April.) S...
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Reviewing the ABC's
While Macro Man's progeny are now old enough to read, he finds himself reliving old times, going through the A-B-C's in his quest fo...
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Far out!
Interesting news from the murky world of subprime. Evidently, with great danger comes great opportunity: NEW YORK -(Dow Jones)- Accredited ...
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Taking the other side of US trade deficits
Q: What do you get when you dress a pig in a prom dress? A: A pig. Macro Man has been trousered by one of the fundamental errors in macro in...
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Just one of those days
Have you ever had one of those days where nothing seems to work? Macro Man has seen an irritating drawdown over the past 24 trading hours a...
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Morning headache
Slovakia has revalued its currency by 8.5% within the ERM system over the weekend, sending all Eastern European currencies, including Macro ...
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Double, double
Double, double, toil and trouble. Fire burn and cauldron bubble! Actually, perhaps we should say triple. triple, prices ripple, as it's ...
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Dollar cracking?
It seems as if the market is grasping the dollar bear story with both hands this morning. While Macro Man does not necessarily agree wi...
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Fitch downgrades Iceland!
Here's what happened last year, which eventually fed through into weakness in all currencies with large/deteriorating current accounts. ...
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A modern fairytale
Time for a game. Which of the following is not like the others? * Cinderella * Hansel and Gretel * The Princess and the Pea * The boy king ...
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Assigning blame for subprime
There's an interesting piece from hedge fund manager Dour Kass over at TheStreet.com on who's to blame for the subprime mess. A...
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So the SPX makes a new low...
...and risky currencies are higher on the day! Strange days, indeed. Most peculiar, mama....
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Silly season
OK, so here's what we've ahd this morning: * A story that the Massachussetts DA, William Galvin, is going after UBS and Bear Stearns...
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'C' ya, Wave B
Well, well, well. Wave B did end, not with a whimper but a bang! After all the focus on macro data, investment bank earnings, ABS, and MBS...
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I love the smell of risk aversion in the morning
..and will add to it buy buying 15 million EUR/HUF 252 spot basis, 252.45 to 04 April. Macro Man will take profits at 256...just looking fo...
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I hope it's not too late...
but if this really is the onset of Wave C, then it won't be. Macro Man sells 25 million AUD/CHF at 0.9560 sp0t basis (0.95385 to 04 Ap...
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The China Syndrome
If financial markets were a Hollywood movie, right about now a Z-list ham actor would be chewing on a toothpick and saying “it’s quiet out t...
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Wave B(ye-bye?)
Well, we’re approaching crunch time for the Macro Man risky-asset scenario. Non-US equities have, by and large, reached ideal Wave B retrac...
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