On the Central Bank front, the focus this week was on the ECB, and this morning the bank’s head Mario Draghi for all intents and purposes reiterated his multi-year long commitment to do “whatever it takes” …
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The S&P 500 (SPX) is up 8% from last Friday’s low. That low followed Sept’s disappointing and downward revised August employment data that basically put the final nail in the coffin for any chances of the FOMC …
Continue readingHere is a quick recap of trades that we initiated, closed, or debated in the week that was Sept 21st – Sept 25th: [hr]
Continue readingIn a great interview with the Financial Times, John Burbank of multi-strategy hedge fund Passport Capital this morning explains the reasoning behind his firms large wagers against commodities and emerging markets: Mr Burbank said years of QE had …
Continue readingA little more than 2 weeks ago, we expressed a near term bullish view in U.S. Treasuries when the 30 Year Bond etf (TLT) was trading $121 (below), a little less than 2% from where …
Continue readingIf Q1 GDP is revised lower from its reported 0.2 gain (well below the prior quarter’s 2.2% gain) it will mark the third negative Q1 print since 2011. Cold rain and snow apparently wreaked havoc on …
Continue readingBack on Jan 16th (TLT: No Mr. Bond, I Expect You To Die) I had the following to say about the rally in Treasury Bonds; It is our sense that the U.S. Treasury rally is …
Continue readingHere is some generally directional, untied options activity that caught my eye during Thursday’s trading: 1. CHK – On Wednesday we saw crazy short dated call buying in UAL (here), and yesterday we see a considerably larger, much longer …
Continue readingWhile the VIX is back near its 2015 low, closing at 13.40 yesterday, volatility in global financial markets as a whole has been much higher over the past few months. Currencies and commodities have been …
Continue readingI’ll keep this short and sweet this morning. From what sort of risk ignoring dimension are investors disregarding the volatility in, of all things, U.S. Treasuries. And why are they placing little if any concern …
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