Tuesday, November 13, 2018 1:32 PM EDT
Less than 48 hours after suggesting production cuts are in the cards, OPEC slashed demand estimates for the cartel’s crude.
Contributor's Links:
The Heisenberg Report
Perhaps more than any other time in the last six decades, the fate of markets is inextricably intertwined with the ebb and flow of geopolitics. From the ECB's attempts to use the central bank's balance sheet to influence political outcomes across the eurozone to Saudi Arabia's ... more
Perhaps more than any other time in the last six decades, the fate of markets is inextricably intertwined with the ebb and flow of geopolitics. From the ECB's attempts to use the central bank's balance sheet to influence political outcomes across the eurozone to Saudi Arabia's efforts to transform the kingdom's influence over crude prices into an instrument of foreign policy, it's become increasingly clear that one simply cannot fully comprehend market movements without a thorough understanding of concurrent political outcomes. Drawing on extensive experience in both politics and finance, Heisenberg will help demystify a world in which investors can no longer hope to conceptualize markets as existing in anything that even approximates a vacuum. "I am the one who knocks."
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ALL CONTRIBUTIONS
For The First Time In 5 Years, China Drops Key Currency Pledge In Sign Of Growing Angst
Monday, November 12, 2018 2:47 PM EDT
Earlier this month, the yuan staged a rally so large that it qualified as a 6+ standard deviation event going all the way back to the end of the dollar peg.
Beware The ‘Tightening Tantrum’ And Fear The ‘Lights-Out’ Trade
Friday, November 9, 2018 1:10 PM EDT
The confluence of bullish technicals which have variously conspired to ignite a powerful rally of the late October lows are playing out against a backdrop of tightening financial conditions.
Bad Omen: The Buyback Trajectory Is Slowing
Monday, November 5, 2018 4:33 PM EDT
Anytime there’s a selloff and folks are looking for excuses to stay bullish, buybacks obviously come up and it’s not hard to understand why.
In this article: SPX
Chinese Stocks Have A New Biggest Worry: Plunging Liquor
Monday, October 29, 2018 3:18 PM EDT
Amid generally mixed trading in Asian shares to start the week, don’t let it be lost on you that mainland shares in China suffered another grievous blow, falling more than 2% for the fifth session in October.
‘Private’ Parts: Explosion In Private Debt Market Cements ‘Liquidity As The New Leverage’
Monday, October 15, 2018 11:07 PM EDT
Back on November 16, 2017, Goldman outlined their “top ten themes” for the coming year. Number 10 on that list was “Illiquidity Is the New Leverage”. There is, Goldman warned, voracious demand for “anything without a Cusip”.
Comments
STOCKS I FOLLOW
| ACP | Avenue Income Credit Strategies Fund |
| ACWF | iShares Edge MSCI Multifactor Global |
| ACWI | iShares MSCI ACWI Index Fund |
| ADRE | BLDRS Emerging Markets 50 ADR Index Fund |
| ADRU | BLDRS Europe 100 ADR Index Fund |
| AFTY | CSOP FTSE China A50 ETF |
| ANGL | Mkt Vector ETF Shs Market Vectors Fallen Angel High Yield Bond ETF |
| ARDC | Ares Dynamic Credit Allocation Fund, Inc. |
| ASHR | Deutsche X-trackers Harvest CSI 300 China A-Shares ETF |
| ASHS | Deutsche X-trackers Harvest CSI 500 China-A Shares Small Cap ETF |
| ASHX | Deutsche X-trackers CSI 300 China A Hedged Equity |
| BIL | SPDR Barclays 1-3 Month T-Bill ETF |
| HYB | New America High Income Fund Inc. (The) |
| HYF | Managed High Yield Plus Fund Inc. |
| HYG | iShares iBoxx $ High Yield Corporate Bond Fund |
| HYI | Western Asset High Yield Defined Opportunity Fund Inc. |
| HYLD | Peritus High Yield ETF |
| HYLS | First Trust Tactical High Yield ETF |
| HYS | PIMCO ETF Trust |
| HYT | BlackRock Corporate High Yield Fund VI Inc. |
| HYXU | iShares Global ex USD High Yield Corp Bd |
| IEF | iShares Lehman 7-10 Year Treasury Bond Fund |
| IEI | iShares Barclays 3-7 Year Treasury Bond Fund |
| IEIL | iShares Enhanced International Large-Cap ETF |
| IEMG | iShares Core MSCI Emerging Markets ETF |
| IEV | iShares Europe |
| IGS | ProShares Trust |
| IGU | ProShares Trust |
| IHY | VanEck Vectors Intl Hi Yield Bond ETF |
| IJNK | SPDR Barclays Intl High Yield Bond ETF |
| ISD | Prudent Short Shs |
| ITE | SPDR Lehman Intermediate Term Treasury ETF |
| IVE | iShares S&P 500 Value Index Fund |
| IVV | iShares S&P 500 Index Fund |
| IVW | iShares S&P 500 Growth Index Fund |
| IWB | iShares Russell 1000 Index Fund |
| IWL | iShares Trust |
| IWM | iShares Russell 2000 Index Fund |
| JFC | JF China Region Fund Inc. |
| JGBS | Deutsche Bank AG, London Branch |
| JJETF | iPath Bloomberg Energy SubTR ETN |
| JKD | iShares Morningstar Large Core Index Fund |
| JNK | SPDR Lehman High Yield Bond ETF |
| JQC | Nuveen Multi-Strategy Income and Growth Fund 2 |
| JSD | Nuveen Short Duration Credit Opportunities Fund |
| JYNFF | iPathSM JPY/USD Exchange Rate ETN |
| KBA | KraneShares Bosera MSCI China A ETF |
| KEMP | KraneShares FTSE Emerging Markets Plus ETF |
| KFYP | KraneShares CSI New China ETF |
| KHI | DWS High Income Trust |
| KSA | iShares MSCI Saudi Arabia Capped |
| KWEB | KraneShares CSI China Internet ETF |
| LC | LendingClub Corp. |
| LLEM | Direxion Daily FTSE Emkts Bull 1.25X ETF |
| LLSC | Direxion Daily Small Cap Bull 1.25X ETF |
| LLSP | Direxion Daily S&P 500 Bull 1.25X ETF |
| LQD | iShares iBoxx $ InvesTop Investment Grade Corporate Bond Fund |
| MBB | iShares Barclays MBS Bond Fund |
| MCHI | iShares MSCI China |
| MCI | Babson Capital Corporate Investors |
| MHY | Western Asset Managed High Income Portfolio Inc. |
| MPV | Babson Capital Participation Investors |
| MSF | Morgan Stanley Emerging Markets Fund Inc. |
| NHS | Neuberger Berman High Yield Strategies Fund Inc |
| OILB | iPath B S&P GSCI Crude Oil TR ETN |
| OILX | ETRACS S&P GSCI Crude Oil Total Return Index ETN |
| OLEM | Barclays Bank PLC |
| OLO | PowerShares DB Crude Oil Long ETN |
| OTPIX | Nasdaq-100 Profund Investor Class |
| PCF | Putnam High Income Securities Fund |
| PEK | Market Vectors China ETF |
| PGJ | PowerShares Gldn Dragon Halter USX China |
| PHF | Pacholder High Yield Fund, Inc. |
| PHT | Pioneer High Income Trust |
| PLW | PowerShares 1-30 Laddered Treasury Portfolio |
| PST | ProShares UltraShort Lehman 7-10 Year Treasury ETF |
| QID | ProShares UltraShort QQQ |
| QLD | ProShares Ultra QQQ |
| QLTA | iSh Aaaa-ARtCBd Shs |
| QLTB | iSh Baa-BaRtCBd Shs |
| QQEW | First Trust NASDAQ |
| QQQ | PowerShares QQQ Trust Series 1 |
| QQQC | Global X NASDAQ China Technology ETF (QQQC) |
| QQQE | Direxion Trust |
| QQXT | First Trust NASDAQ - 100 Ex |
| RA | RailAmerica Inc. |
| RFEM | First Trust RiverFront Dynamic Emerging Markets ETF |
| RFEU | First Trust RiverFront Dynamic Eurp ETF |
| RGRO | RevenueShares Global Growth ETF |
| RINF | ProShares Inflation Expectations ETF |
| RISE | Sit Rising Rate ETF |
| RJN | ELEMENTS Rogers Energy ETN |
| ROAM | Lattice Emerging Markets Strate |
| RPG | Guggenheim S&P 500 Pure Growth ETF |
| RPV | Rydex S&P 500 Pure Value ETF |
| RSP | Rydex S&P Equal Weight ETF |
| RWL | RevenueShares Large Cap ETF |
| RWM | ProShares Short Russell2000 |
| RWV | RevenueShares Navellier Overall A-100 Fund |
| RYARX | Rydex Series Fds Inverse S&P 500 Strategy Fund |
| RYRSX | Rydex Dynamics Fds Russell 2000 2X Strategy Fun |
| SBEU | ETFS Diversified-Factor Developed Eurp |
| SBUS | ETFS Diversified-Factor US Large Cap |
| SCHE | SCHWAB STRATEGIC TREMERGING MKTS EQUITY ETF |
| SCHO | Schwab Short-Term US Treasury ETF |
| SCHP | Schwab Fixed-Income ETFs |
| SCHR | Schwab Fixed-Income ETFs |
| SCHX | SCHWAB US LARGE CAP ETF |
| SCO | ProShares UltraShort DJ-AIG Crude Oil |
| SDOW | ProShares Indices |
| SDS | ProShares UltraShort S&P500 |
| SFLAF | iPath Long Extended S&P 500 TR ETN |
| SH | ProShares Short S&P500 |
| SHV | iShares Barclays Short Treasury Bond Fund |
| SHY | ISHARES LEHMAN 1-3Y ETF |
| SJB | ProShares Indices |
| SJNK | SPDR Series Trust |
| SLV | iShares Silver Trust |
| SMLL | Direxion Daily Small Cap Bull 2X ETF |
| SPLX | UBS ETRACS M Reset 2xLvg S&P 500 TR ETN |
| SPUU | Direxion Daily S&P 500 Bull 2X ETF |
| SPVU | PowerShares S&P 500 Value |
| SPXE | ProShares S&P 500 ex-Energy |
| SPXL | Direxion Daily S&P500 Bull 3X ETF |
| SPXN | ProShares S&P 500 ex-Financials |
| SPXS | Direxion Daily S&P500 Bear 3X ETF |
| SPXT | ProShares S&P 500 ex-Technology |
| SPXU | ProShares Trust |
| SPXV | ProShares S&P 500 ex-Health Care |
| SPY | SPDR S&P 500 |
| SPYB | SPDR S&P 500 Buyback ETF |
| SPYD | SPDR S&P 500 High Dividend ETF |
| SPYG | SPDR Portfolio S&P 500 Growth ETF |
| SPYV | SPDR Portfolio S&P 500 Value ETF |
| SQQQ | ProShares UltraPro Short QQQ |
| SRTY | ProShares Indices |
| SSO | ProShares Ultra S&P500 |
| SST | SPDR Series Trust |
| SVXY | ProShares Short VIX Short-Term Futures |
| SYE | SPDR MFS Systematic Core Equity ETF |
| SZO | PowerShares DB Crude Oil Short ETN |
| TAO | Guggenheim China Real Estate ETF |
| TAPR | Barclays Inverse US Treasury Aggt ETN |
| TBF | PROSHARES TR 20+YR TRSY |
| TBT | ProShares UltraShort Lehman 20+ Year Treasury ETF |
| TBX | ProShares Indices |
| TBZ | Toy Biz Inc |
| TDF | Templeton Dragon Fund Inc. |
| TIP | iShares Lehman TIPS Bond Fund |
| TLH | iShares Barclays 10-20 Year Treasury Bond Fund |
| TLO | SPDR Lehman Long Term Treasury ETF |
| TLT | iShares Lehman 20+ Year Treasury Bond Fund |
| TMF | Direxion Daily 30Y T |
| TMV | Daily 20 Year Plus Treasury Bear 3x Shares |
| TNA | Direxion Small Cap Bull 3x Shares |
| TQQQ | ProShares UltraPro QQQ |
| TTT | ProShares UltraPro Short 20+ Year Trs |
| TUR | iShares MSCI Turkey Investable Market Index Fund |
| TUZ | PIMCO 1-3 Year U.S. Treasury Index ETF |
| TVIX | VELOCITYSHARES DAILY 2X VIX |
| TWM | ProShares UltraShort Russell2000 |
| TYBS | |
| TYD | Direxion Daily 10 Yr Trs Bull 3X Shares |
| TYNS | |
| TYO | Direxion Shares ETF Trust |
| TZA | Direxion Small Cap Bear 3x Shares |
| UBN | E-TRACS UBS Bloomberg CMCI Energy ETN |
| UBT | ProShares Ultra 20+ Year Treasury ETF |
| UCO | ProShares Ultra Bloomberg Crude Oil |
| UDN | PowerShares DB US Dollar Index Bearish Fund |
| UDOW | ProShares Indices |
| UDPIX | Ultra Dow 30 Profund Investor Class |
| UGA | United States Gasoline Fund LP |
| UJB | ProShares Trust |
| UPRO | ProShares UltraPro S&P 500 ETF |
| UPV | ProShares Trust |
| URTY | ProShares UltraPro Russell2000 |
| USA | Liberty All-Star Equity Fund |
| USDU | WisdomTree Bloomberg USD Bullish ETF Fund |
| USL | United States 12 Month Oil Fund, LP |
| USO | United States Oil Fund, LP |
| UST | ProShares Ultra 7-10 Year Treasury |
| UUP | PowerShares DB US Dollar Index Bullish Fund |
| UVXY | PowerShares Exchange-Traded Fund Trust II |
| UWM | ProShares Ultra Russell 2000 |
| UWTI | VelocityShares 3x Long Crude Oil ETN |
| VCIT | Vanguard Intermediate-Term Corp Bd ETF |
| VCLT | Vanguard Long |
| VCSH | Vanguard Short-Term Corporate Bond ETF |
| VFINX | Vanguard Index Trust 500 Index Fund |
| VGIT | Vanguard Intermediate |
| VGK | VANGUARD EUROPEAN ETF |
| VGLT | Vanguard Long |
| VGSH | Vanguard Short |
| VIIX | VelocityShares VIX Short-Term ETN |
| VIXM | PROSHARES VIX MID-TERM FUTUR |
| VIXY | PROSHARES VIX SHORT-TERM FUT |
| VLT | Invesco Van Kampen High Income Trust II |
| VMAX | REX VolMAXX Long VIX Weekly Futures Strategy ETF |
| VMIN | REX VolMAXX Inverse VIX Weekly Futures Strategy ETF |
| VONE | V-One Corporation |
| VOO | VANGUARD FIVE HUNDRED INDEX |
| VOOG | Vanguard Admiral Funds Inc |
| VOOV | Vanguard Admiral Funds Inc |
| VT | Vanguard Total World Stock ETF |
| VTA | Invesco Van Kampen Dynamic Credit Opportunities Fund |
| VTI | VANGUARD TOT STK MKT ETF |
| VTWO | Vanguard Russell 2000 ETF |
| VUSTX | Vanguard Long Term Treasury Fund |
| VV | Vanguard Large-Cap ETF |
| VWO | Vanguard FTSE Emerging Markets ETF |
| VXX | iPath S&P 500 VIX Short-Term FuturesTM ETN |
| WFHY | WisdomTree Fundamental US Hi Yld Corp Bd |
| WFIG | WisdomTree Fundamental US Corporate Bond |
| XINA | SPDR MSCI China A Shares IMI |
| XIV | VELOCITYSHARES DAILY INVERSE |
| XLE | Energy Select Sector SPDR |
| XPP | ProShares Trust |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund |
| XXVFF | iPath Inverse S&P 500 VIX ST Fut ETN |
| YANG | Direxion Daily China 3x Bull |
| YAO | Guggenheim Shares China All-Cap ETF |
| YCL | ProShares Ultra Yen |
| YCS | ProShares UltraShort Yen |
| YINN | Direxion Daily China 3x Bear |
| YXI | ProShares Trust |
| ZF | The Zweig Fund Inc. |
| ZROZ | PIMCO ETF Trust |
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Latest Posts
In case you were wondering whether Axios is going to leave Trump alone when it comes to reminding America that he is not-so-quietly talking to his advisors about effectively blowing up the global trade order, the answer is definitively “no”.
Regular readers know Kevin Muir, the former trader who writes the popular Macro Tourist daily letter. His new blog, "Where Is Beeks?“, is dedicated to tales from a time when trading was done by carbon-based lifeforms.
Latest Comments
The Last Time This Happened, The World Ended…
"I think I would have remembered that!"
no, actually you wouldn't. no "remembers" the world ending by definition.
It’s The Oil, Stupid
that isn't relevant to this discussion and it assumes nothing of the sort.
on the bright side, if you want to read about that topic, I can point you to one of the best bloggers on the internet who writes beautifully on late stage capitalism. check this out: https://notesfromdisgraceland.wordpress.com/
This Is How Far Oil Prices Have To Fall To Trigger Junk Bond Chaos
me too