From the close of business on 30-Sep to the close of business on 10-Oct, while the US government was shut, the following market moves took place: VIX: 16.6 -> 16.48, -0.12 SPX: 1682 -> 1693, +11 10y: 2.61 -> 2.68, +0.07 EDZ6: 97.74 -> 97.76, + 0.02 MOVE: 80.16 ->...
Back in 2011 I put out a number of commentaries on the debt ceiling showdown. I was thinking about something new to write on this subject given the current situation, but everything was just a rehash of previous thoughts. As such, I am reprinting excerpts from two old...
"We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution.” - Abraham Lincoln "The threat of defaulting on government obligations is a powerful weapon, especially in...
I don't know how many times I have heard the words "pushing on a string" from the QE-hater community, but it certainly has been in the thousands, maybe even the tens of thousands. When I hear those four words I usually just get out my chart of spoos, or the nikkei,...
I have to admit, even as bullish risk assets as I am, and as happy as I am today with a spoos and chartreuse position, I didn't believe these guys would deliver so strongly on the dovish side. My hat's off to my colleague Ward McCarthy who stuck to his guns throughout...
I have to admit, even as bullish risk assets as I am, and as happy as I am today with a spoos and chartreuse position, I didn't believe these guys would deliver so strongly on the dovish side. My hat's off to my colleague Ward McCarthy who stuck to his guns throughout the past couple […]
