Category Archives: Uncategorized

The Open

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?

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

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

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Our Summer Of Discontent

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

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Liftoff, We Have A Liftoff

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

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Codependent Central Bankers

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

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

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

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

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