tag:blogger.com,1999:blog-34323687.post5195246476784812054..comments2024-03-29T03:19:56.674+00:00Comments on Macro Man: Hmm... Do I smell a Euro?Macro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-34323687.post-30494918279720529922010-08-12T04:19:39.830+01:002010-08-12T04:19:39.830+01:00I confess in my previous life I was an Air Traffic...I confess in my previous life I was an Air Traffic controller but sadly Heathrow not in Spain so no overtime :( (and I wing walked for a hobby).Nichttps://www.blogger.com/profile/15083151714732237616noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-60821506775130466972010-08-11T21:49:57.822+01:002010-08-11T21:49:57.822+01:00Nice work on the Euro short. Usually we are all ve...Nice work on the Euro short. Usually we are all very early here. Like today, LB dipped a toe too early this morning and suffered the loss of a small digit....<br /><br />The move in Treasury yields has come so far, and with 5y TIPS now yielding zero, LB wonders if a move into riskier credits isn't coming along soon. That, after all, was the Fed's intention, presumably. So now that all the Treasury bears have covered, who is left to buy? We have been steadily unloading the long bonds and raising cash. It has, as they say, been a bloody good run since last August.<br /><br />Back to the BoJ watch...Leftbackhttps://www.blogger.com/profile/07728096415928915882noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-46896747965594557892010-08-11T21:07:20.123+01:002010-08-11T21:07:20.123+01:00FX LB and sharfy, A winner is always welcome. Wis...FX LB and sharfy, A winner is always welcome. Wish they all could be like that. Fat chance .. <br /><br />Really sorry we didn't get round to putting anything out today, which was a bit of a frustration, as the yen story does appear to be the next stress point, as everything piles in there during round 2 on the Euro. <br /><br />Maybe some thoughts on it for tomorrow.<br /><br />LB .. Has Buffett approached you yet to hand half of your wealth to charity yet? You must be making out like a bandit. So either that or we are all looking forward to you sponsoring TMM's christmas Mcturkey twissler lunch. <br /><br /> I was half wondering if we might see a "flash crash" this afternoon as everything else started a "huh , that wasn't meant to happen" move on nothing in particular. <br /><br />Positions positions positions....<br /><br />Nic, I am sure they are... Is that one of yours in your profile pic ?<br /><br /><br />I better dash off to the other comments from Monday and congratulate some classics.Polemichttps://www.blogger.com/profile/05985506596290073453noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-73788496102555124562010-08-11T19:20:23.101+01:002010-08-11T19:20:23.101+01:00Dam timely call.....Dam timely call.....scharfyhttps://www.blogger.com/profile/18309882331114382248noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-11906190845311012272010-08-11T17:18:16.186+01:002010-08-11T17:18:16.186+01:00Nicely timed call on the EURUSD, TMM.
2.71% on t...Nicely timed call on the EURUSD, TMM. <br /><br />2.71% on the 10y here and a 220 bps on 2s10s. <br />LB would like to make a SHOUT OUT here to some guys who espoused the CONVENTIONAL RECOVERY meme last year. Good guys, obviously, but totally unable to think their way out of a PAPER BAG.<br /><br />So... Hi, "Gary". How ya doin', bud?<br /><br />Also today's trade means that the highly-paid Head of Fixed Income JIM CARON at MS is now even "more experter" on "bond yield thingies" than before. WELL PLAYED, mate!<br /><br />and let's not forget JULIAN ROBERTSON, who was espousing shorting the US bond market with as much leverage as you could lay your hands on. Wotcher, JULIAN..... (could have chosen Taleb or any number of people here).<br /><br />LB's Question of the Day relates to the Yen:<br /><br />BoJ INTERVENTION or<br />FULL SCALE CARRY UNWIND?<br /><br />We are going with intervention. You know the phone must be ringing off the hook in Tokyo...Leftbackhttps://www.blogger.com/profile/07728096415928915882noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-22475226156218384762010-08-11T12:10:23.088+01:002010-08-11T12:10:23.088+01:00TMM, let's save some pips for Ascot:-)
ps..Th...TMM, let's save some pips for Ascot:-)<br /><br />ps..The Ascot team getting bigger.Unknownhttps://www.blogger.com/profile/11882601304613626929noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-3850937662214487862010-08-11T04:51:42.835+01:002010-08-11T04:51:42.835+01:00You have a "GO!", TMM.You have a "GO!", TMM.Unknownhttps://www.blogger.com/profile/11882601304613626929noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-42946143934134182662010-08-10T23:33:18.966+01:002010-08-10T23:33:18.966+01:00Those air traffic controllers are worth every penn...Those air traffic controllers are worth every penny ;)Nichttps://www.blogger.com/profile/15083151714732237616noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-70231097817725401322010-08-10T19:53:14.636+01:002010-08-10T19:53:14.636+01:002s10s now 221 bps... how's that STEEPENER work...2s10s now 221 bps... how's that STEEPENER working for ya, MORGAN STANLEY? <br /><br />Caron was actually pitching that today on TV. The Genius of the 5.5% 10y himself. 2.78% 10y right here, which means Caron was "this close..."<br /><br />How do these tools stay employed?Leftbackhttps://www.blogger.com/profile/07728096415928915882noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-2160435476839481282010-08-10T19:27:50.030+01:002010-08-10T19:27:50.030+01:00Bucky now taking the predictable post FOMC beating...Bucky now taking the predictable post FOMC beating after the Mini-QEase.<br /><br />After the DXY makes a double bottom or a new low, it does seem as though "EUR on to something" ....Leftbackhttps://www.blogger.com/profile/07728096415928915882noreply@blogger.com