In the last 24 hours spoos have dropped about 50 points. Now one might have thought that a quick risk-off move like that would cause interest rates to fall, but it didn't. Our old friends, the blue Euordollar futures, are lower by 4bps over the same time...
There has been no shortage of punditry on USD strength in 2015. It has been THE consensus trade of the year. And certainly we have been guilty of running with the pack on this one via our long Dax & Dollar trading theme (BTDD). Of course it is always more fun to...
This was an excerpt from our last commentary entitled "Uncomfortable Swedish Flip Flops": "My best guess for Wednesday is we see patience gone, we get a little volatility to trade, and then we go right back to our happy place - the BTDD world" The logic was quite...
Swedes are not well known in the world of high fashion. Their only domestic shoe brand of note is called a "Hasbeen" - some sort of wooden clog like contraption that appears about as comfortable as an extra tight pair of ski boots. But the Swede's reputation for...
Over 50 percent of the outstanding sovereign debt in northern Europe currently has a negative nominal yield. And this not just the case in Eurozone countries, Sweden is also part of the esteemed greater than 50% negative yield club. So, the burning question on your...
The Syriza leadership circle spent last weekend in Athens celebrating victory. At the same time the far left of their party, and the rest of the world, couldn't help but notice a complete u-turn on ALL their election promises. Tsipras said on Monday - "We won the...
It's getting late in Club USA! Many folks, like us, have stumbled out after a fantastic five year party with Ben and Janet. We are looking for the next big rave - and from a distance we can hear the DJ's in Tokyo and Frankfurt spinning some great tunes. Harry and...
Like many investors I have been brushing up on my Neo-Libertarian Marxist economics by watching lectures and reading essays authored the Bruce Willis of Greece - Yanis Varoufakis. I must say, I am not an expert in this branch of economics - but vilifying rent seekers,...
Over the next few weeks Tsipras will confront EU leaders with a clear mandate from the Greek people. Although he was 2 seats short of a full majority, it looks as though ANEL will become his coalition partner and he will form a government shortly. Choosing the...
Mario didn't even have to take a vote - the "Hasser" opposition was crushed before they had a chance to speak. It was a beautiful day in Frankfurt, with ECB actions that will surely provide the base for a long awaited European recovery. I suspect we will all look back...
Mario didn't even have to take a vote - the "Hasser" opposition was crushed before they had a chance to speak. It was a beautiful day in Frankfurt, with ECB actions that will surely provide the base for a long awaited European recovery. I suspect we will all look back on 22-Jan-2015 as a pivot […]
