Yearly Archives: 2018

QOTD: On Risk

Posted on May 9, 2018 by macromon

Risk does not like prophets. It’s not even fond of historians. You can plan for every risk except the things that are too crazy to cross your mind. —  Morgan Housel

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Italy’s North-South Economic Divide – France24

Posted on May 9, 2018 by macromon

Italy 10-year closed at 1.88 percent today,  6.7 bps wider versus the 10-year bund for the week, but still 14 bps tighter year-to-date. The Italian 10-year government bond is 112 bps through the U.S. 10-year note yield, and the country … Continue reading →

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QOTD: Paul Tudor Jones

Posted on May 8, 2018 by macromon

Note, no mention of “recession”, the trigger for the cheerleaders.  The bear market of    1962 and 1987 occurred with robust economic growth. You look at every bear market and they’ve always basically occurred because of an uptick in inflation … Continue reading →

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Hammer Drops On EM FX

Posted on May 8, 2018 by macromon

It’s getting tighter out there, folks. Emerging currencies are down almost 6.5% against the USD on average since February. pic.twitter.com/5TTNQgIgeE — jeroen blokland (@jsblokland) May 8, 2018

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‘Toon of the Day: Emoji Intellectuals

Posted on May 8, 2018 by macromon

Blame social media! Hat Tip:  @newscientist

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QOTD: Fed Chair Jay Powell

Posted on May 8, 2018 by macromon

  I do not dismiss the prospective risks emanating from global policy normalization. Some investors and institutions may not be well positioned for a rise in interest rates, even one that markets broadly anticipate. And, of course, future economic conditions … Continue reading →

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Dimon Says Prepare for 4% Yields – Bloomberg

Posted on May 7, 2018 by macromon

Wow!  It sounds like Jamie read our recent post,  Prepare For Much Higher Long-Term Rates.   Nah, we are just on the same page. He speculates the yield curve will not invert as it did in the last tightening cycle; long-term … Continue reading →

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Stock Bull & Bear Traps Galore

Posted on May 7, 2018 by macromon

The S&P500 could not hold the 50-day moving average today, setting, yet again, a nice bull trap to hang out the MoMo crowd.  Seeing a lot more traps, both bull and bear,  these days.  It is the result of the … Continue reading →

Posted in Algos, Apple, Equities, Technical Analysis, Uncategorized | Tagged , , | 28 Comments

Economic Growth Theory In Three Minutes

Posted on May 7, 2018 by macromon

Economic growth is a central concern for all societies. On one hand, unbridled growth poses serious environmental risks. On the other hand, rising incomes are a foundation of social and political stability. But because people and resources are finite, income … Continue reading →

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Week In Review – May 4

Posted on May 6, 2018 by macromon

Summary Bullet Points EM FX hammered, especially Argentina & Turkey.  Sign of tightening global liquidity with stronger dollar Euro/$ and cable weaker Euro periphery spreads a bit wider U.S. 10-year yield flattish Corporate credit a little weaker x/ CCC Euro … Continue reading →

Posted in Uncategorized | 9 Comments