That was some kind of spoo dip this week. We traded down towards 1290 only to come ripping back to almost 1340 - the mid Feb high. The risk asset world simply looks bullet proof. Greek defaults, silly downgrade reports from once venerable ratings agencies and threats...
The decision by S&P to put US debt on negative watch should have no implication whatsoever for creditworthiness of US debt. There is a large mistake being made at the ratings agencies when it comes to accessing sovereign debt in a fiat currency regime. They are...
The list of stuff that has supposedly been responsible for this "mini-pullback" in risk assets over the past few days is as follows - 1. A level 7 accident rating for the Fukushima reactor. 2. Schaeuble ringing the Greek restructuring bell. 3. Economists revising US...
Yes, this is the final line from Pedro’s presidential campaign speech in the film Napoleon Dynamite. As our “Vote for Pedro” campaign winds down, I just wanted to send out a motivational picture. Please open the first attachment as it has a very subliminal advertising...
The following note will appear in the Treasury Market Strategy section of our April Global Fixed Income Monthly that goes to publication today. I thought I would send it now as a preview. Good luck trading! The coming inflation addition – The past month felt like...
Here are the current distances from the February highs in equities and yields US 5s - 7bps below US 10s - 15bps below US30s – 10bps below Bunds – 15bps ABOVE Spoo - 0.5% below DAX – 3% below There was plenty of rumbling about a month ago about how we had seen the high...
Here are the current distances from the February highs in equities and yields US 5s - 7bps below US 10s - 15bps below US30s – 10bps below Bunds – 15bps ABOVE Spoo - 0.5% below DAX – 3% below There was plenty of rumbling about a month ago about how we had seen the high […]
