Market Overview

Last night saw some interesting volatiltiy around risk markets with softer US jobs data before tomorrow night’s official US NFP print saw big drops in Treasury yields while stocks vacillated between...

DXY faded last night: AUD held on: JPY is unwinding more carry: Oil is screwed: Another metals pimple bursts: Big miners are going to retest 2022 lows: EM has a nice head and shoulders top: But junk...

Part One of this article described the burgeoning bull steepening yield curve environment and what it implies about economic growth and Fed policy. It also discussed the three other predominant types...

We expect the Fed rate cut cycle to start soon and proceed gradually. Barring a financial crisis or a sharp and unexpected change in the path of inflation or unemployment, the upcoming rate-cutting...

September has just started and is already living up to its reputation of being the toughest month of the year for stocks. The stock market sold off after the open and August's weak M-PMI report was...

Stocks fell sharply yesterday, with the S&P 500 down more than 2% and the Nasdaq 100 dropping 3.15%. These declines aren’t entirely unexpected, and some of the drop is due to the end-of-day surge...

DXY is up and away! AUD turned to mush: If JPY rises much more, things could get ugly: Oil gapped into madness: Metals melt-up once again turns metals meltdown: Miners crashed: EM is your...

Stocks rallied to close out the last week of August. The $6.5 billion buy imbalance, which overwhelmed the market in an illiquid trading session ahead of the three-day weekend, could have had...

DXY is on a rebound, perhaps technical: AUD is still battling go higher: North Asia not so much: Oil is in trouble: Metals are pulling back: Miners are frozen in fright at iron ore: EM yawn: Junk is...

Unnoticed by the vast majority of investors, a major macro regime change is underway. This could prove to be a catalyst for a major regime change in financial markets in coming years. Already it...

The trading week ended on Friday night with some month-end shenanigans with USD surging once more despite a slightly softer than expected US PCE print with rising bond yields helping add volatility...

In a recent discussion with Adam Taggart via Thoughtful Money, we quickly touched on the similarities between the U.S. and Japanese monetary policies. However, that discussion warrants a deeper dive....

Well, it looks like the day before yesterday’s implied volatility ramp higher came back to bite the market yesterday. The early IV crush in the VIX 1D went from 21 to 11, sending the S&P 500...

The USD saw a surge overnight due to a better than expected initial jobless print but also a revision in US 2nd quarter GDP but it didn’t stick completely against all the majors as it faded towards...