Author Archives
-
Unbelievable
I have no expectations that markets behave normally during war – trade or military. And with midterms less than seven months away, the administration will undoubtedly pull out all the pro-Bubble stops.
-
Waking Up to Reality Will Be Painful
Repeating a fundamental point, it is sudden fear for perceived safe “money” – as opposed to risky loans/instruments – that is the domain of panics and financial crises.
-
Doug Noland: Bubbles, Dams, War and Cracks
It was a close call, but the largest ever Q1 options/derivatives expiration went off without an accident. That said, it was anything but pretty. Friday saw a troubling market dynamic in full force. No place to hide. No safe havens. Key “insurance” (Credit default swaps) markets lurching toward dislocation. Global bonds under further heavy selling pressure. Treasuries, MBS, agencies, corporates, and muni bonds all hammered. Stocks clobbered. Precious metals battered. Spreads blowing out. CDS prices spiking higher. Emerging markets bludgeoned. Currency instability taking hold.