Nobody seems to know what to make of this evening's FOMC statement . Equities are up since the announcement- barely- and are now sitting...
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Month-end fireworks
It's been a slow start to the week thus far, but today could well see an explosion of fireworks. Take your pick as to what could move ...
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Exquisite timing
Talk about exquisite timing. Earnings season is winding to a close, and while the figures haven't been great, they haven't been un...
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Time to do the Humpty Dance?
Today may, in the fullness of time, be seen as a key turning point for financial markets in 2008 and beyond. Not because of any particular ...
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No, Mr. Bond......I expect you to die
James Bond: "Do you expect me to talk, Goldfinger?" Auric Goldfinger: "No, Mr. Bond....I expect you to die." It's ...
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The physiology of an 800 lb gorilla
It's sod's law, isn't it? Macro Man writes a piece that attempts to demonstrate why the ECB ain't cutting rates any time so...
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What is the ECB smoking?
As the Greatest Financial Crisis Since the Depression ( TM ) rolls on, complete with continued carnage at the front end of most major yield ...
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Profits of Doom
Ah, another day in Paradise. LIBOR spreads blow out again, mercantilist central banks ramp EUR/USD higher, and oil prints (yawn) another ne...
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Four points
Four issues on Macro Man's radar on Monday morning: 1) BOE Buzz cut: The Bank of England announced its version of the TSLF this morning,...
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How cheap are US banks?
How cheap are US banks? Recent price action suggests that market's answer to this is "rather." Merrill reports worse than ex...
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Not to kick Merrill's while they're down....
...but after another earnings shocker , it would be churlish not to post this screen shot from Merrill's website, which is doing the ro...
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A funny thing happened on the way to the rally
A funny thing happened today as equity markets left Virgil in the rearview mirror and started partying with Beatrice. Sure, equities were...
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Plus ca change
Macro Man occasionally has a look into his crystal ball, gazing at what the world will look like in the future. When he had a look last nig...
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As Big As Plaza: A Farce in One Act
Dramatis Personae: Ben Bernanke, a central banker Jean-Claude Trichet, a central banker Masaaki Shirakawa, a central banker Henry "Hank...
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Putting Holmes on the Hunt for Cheap Gamma
Market reaction to the G7 statement has been refreshingly rational, as the dollar's grey-zone attempts to surge have been body-slammed ...
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The beginning of the end of the dollar rout....or the end of the beginning?
Well, well, well. The G7 appeared to signal some concern over the decline and fall of the dollar empire yesterday, changing the boilerplate...
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Pressure points
So much for traction . Macro Man was just starting to get excited yesterday at lower equities and USD/JPY, then at 3.10 pm London time eve...
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Financial accounting, ca. 2008
Passed on from a colleague..... There are two sides of the balance sheet: the left side and the right side. On the left side, there is noth...
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Wither Earnings?
Earnings season is just beginning, and low equity volumes and bland price action indicates a lack of interest, or at least conviction. A th...
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