Category Archives: Uncategorized

The Open

Posted on July 18, 2019 by

Wow!  Check out Darren Clarke off the tee.  Love that guy, who won the Open in 2011, and wish we could have a pint together.   The Brits are very sensitive to the fact that the British Open is “The Open.” … Continue reading →

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Who Is Winning The Trade War?

Posted on July 17, 2019 by

China on Wednesday urged the Trump administration to “make up its mind” about reaching a trade deal with Beijing, warning that additional tariffs could send negotiations further off track. — South China Morning Post, July 17 We state emphatically, Nobody … Continue reading →

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One Small Step In A Playtex Space Suit

Posted on July 17, 2019 by

Yes, you heard that right, Playtex, the bra-maker.

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Our Summer Of Discontent

Posted on July 17, 2019 by

Turning and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world, The blood-dimmed tide is loosed, and everywhere    The ceremony of innocence is … Continue reading →

Posted in Politics, Uncategorized | Tagged , | Leave a comment

Liftoff, We Have A Liftoff

Posted on July 16, 2019 by

So cool. Apollo 11 rocket projected on Washington Monument. #Apollo50 #Apollo50th pic.twitter.com/e8u4Aunxzu — The Hill (@thehill) July 17, 2019  

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Codependent Central Bankers

Posted on July 16, 2019 by

Codependency is characterized by a person belonging to a dysfunctional, one-sided relationship where one person relies on the other for meeting nearly all of their emotional and self-esteem needs. It also describes a relationship that enables another person to maintain … Continue reading →

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QOTD: Bund Dearth

Posted on July 16, 2019 by

QOTD: Quote of the Day Nice pithy quote, which thoroughly encapsulates our narrative of global markets that the major central banks have created a yuuuge shortage of risk-free assets tipping the world economy into a bizarro Twilight Zone, where, now … Continue reading →

Posted in Bonds, Uncategorized, Weekly Eurozone Watch | 1 Comment

Emerging Market Sub-Zero Corporates

Posted on July 15, 2019 by

Stunning.  Kind of gums up the valuation models, no? What have the CenBanks wrought? The amount of negative-yielding corporate bonds almost tripled to $109 billion from a week ago Sovereign bonds with sub-zero rates climbed about 50% to $136 billion … Continue reading →

Posted in Capital Flows, Credit, Uncategorized | Tagged | 1 Comment

What Keeps The Credit Markets Up At Night

Posted on July 15, 2019 by

Credit investors rank their concerns, which are almost identical to ours.  That makes us a little nervous to be bearish.  Prefer to catch the off-radar incoming. Hat Tip:  Chi @chigrl  

Posted in Charts, Tail Risk, Uncategorized | Tagged , | 1 Comment

The Bear On The Balcony At Bretton Woods

Posted on July 15, 2019 by

Ursa Major waits patiently as she watches over,  in amazement, the yield chasing salmon in a panic buying frenzy over fears of NIRP, ZIRP. negative and near zero bond yields forever and ever. The Bear on the Balcony is giving, …them … Continue reading →

Posted in Bonds, Uncategorized | Tagged | 1 Comment