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“The World Has Changed” – What Was Our Biggest Mistake?
“The World Has Changed” – What Was Our Biggest Mistake? This is going to take time. Sorry to have to say it, but patience will be required and undoubtedly tested. By far the best thing that central banks can do is keep the global financial and funding markets functioning and not especially worry about whether the […]
The Fed “Is Complicit In Creating Fragilities In The System”
The Fed “Is Complicit In Creating Fragilities In The System” When the Fed cut interest rates this week, everyone had an opinion about it. The economy needs it to fend off recession. The economy has been hanging in well and they shouldn’t have rushed to spend dwindling monetary policy resources. They were responding to the […]
The Fed “Just Let The Cat Out Of The Bag”, Admits Being Forced To Fuel Asset Bubble
The Fed “Just Let The Cat Out Of The Bag”, Admits Being Forced To Fuel Asset Bubble Well the cat’s out of the bag… The worst kept secret in the financial world is now not only accepted orthodoxy, but finally being discussed openly by, at least some, authorities. Central bank policies are directly driving asset […]
Trader Warns “Market Dysfunction Will Ultimately Have Its Limits”
Trader Warns “Market Dysfunction Will Ultimately Have Its Limits” Global policy uncertainty has never been higher… And the world is erupting in mass protests: Chile, Ecuador, Lebanon, Barcelona, France, London, Puerto Rico, Hong Kong, Iraq, Guinea, Bolivia, Algeria, Haiti, Egypt, Pakistan, Brazil, Sudan, and today, Azerbaijan. Both of which are among the reasons why former fund manager and […]
Global Central Banks “Are Trapped By Their Own Inflation Targets”
Global Central Banks “Are Trapped By Their Own Inflation Targets” Negative Rates Would Lead To #Chaos Central bankers attending the G-7 meeting are sounding remarkably coordinated in their message. The global economy is growing but inflation isn’t. And that, along with the oft-cited global headwinds, means they’re ready and able to add more liquidity to the system. […]
“We Have Really Lost Our Way” – Trader Laments Market’s Risk Ignorance
“We Have Really Lost Our Way” – Trader Laments Market’s Risk Ignorance “BTFD”, “Goldilocks”, “Climbing a wall of worry”, “Powell Put”, “Trump Put”, “It’s different this time.” The excuses to buy stocks – no matter what headline tape bomb explodes – grow longer and more desperate as asset-gatherers and commission-takers know the end is nigh […]
Breslow: “If You Ever Needed Proof That Central Banks Have Crushed These Markets, There You Have It”
Breslow: “If You Ever Needed Proof That Central Banks Have Crushed These Markets, There You Have It” It’s been a while since we featured the grouchy version of Richard Breslow, Bloomberg’s “Trader’s Notes” author, who is back with a bang with his latest missive, explaining why “Ignoring Current Events Just Makes You a Slave” and […]
Why One Trader Just Called It – “Today Is The Start Of The Market Changeover Process”
Why One Trader Just Called It – “Today Is The Start Of The Market Changeover Process” The record-breaking streaks of un-dipping gains; the “epic” bull market (Morgan Stanley’s words, not ours); and the total and utter collapse of all risk premia (equity and credit alike) is all about to end according to former fund manager […]
‘They’ Have Decided “We Can’t Handle The Truth”
‘They’ Have Decided “We Can’t Handle The Truth” It’s a fun conceit of science fiction to contemplate the existence of alternative universes. As Bloomberg’s Richard Breslow points out, when you think they exist in the same time and place, it leaves the realm of the paperback section of the airport newsstand and is better discussed in […]
Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment”
Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment” With global central bank policy in disarray following the Fed’s now admitted “policy error” of tightening just as the US and global economy are heading for recession, while the rest of the world desperate to cut to ever more negative […]
The Biggest Issue Now Is “The Math”
The Biggest Issue Now Is “The Math” Some quick pre-market observations from Bloomberg’s Richard Breslow Just Don’t Nip Out for a Haircut The Greek citizenry voted and the handicappers got it very wrong. The result of the vote was called much earlier than anyone expected. It wasn’t close. Much was made last week of the […]
