Bond

"You Could See Panic": PIMCO Joins Gundlach In Loading Up On S&P Puts

"If we see actual military altercation, markets can go a lot lower. And at the same time, volatility has been so low for so long that it doesn’t take much for markets to get worked up.... you will certainly see panic if all of this turns into a sustained military encounter."

Gartman Stakes His Reputation That "The Bull Market Has Come To An End"

"We are indeed fearful… very… that this wondrous bull market that began in the spring of ‘09 has come to an end and we do not make this statement lightly for we know the damage that can be done to an already damaged reputation if this statement proves to be wrong."

Central Banks Are Hiding The True Price Of Risk

Central banks have put investor risk aversion to sleep: Under their guidance, financial markets are now betting on, and have high confidence in, monetary policy makers successfully fending off any new problems in the economic and financial system.

Global Market Rout Spreads: VIX Marches Higher As China Stocks, Currency Plunge

The global rout resulting from tensions over the North Korean nuclear standoff continued on Friday following a third day of escalating verbal exchanges between Trump and Kim, with European and Asian shares tumbling as volatility across the globe spiked, with the selloff in US futures continuing albeit at a more modest pace.

Strong 30Y Auction Stops At Lowest Yield Since October, 2nd Highest Indirects On Record

In a mirror image of yesterday's ugly, tailing 10Y auction, moments ago the Treasury sold the last batch of paper for this week, when it auctioned off $15 billion in 30Y bonds, in a strong sale which printed at 2.818%, stopping through the When Issued 2.819%, the lowest yield for the tenor going all the way back to October 2016 as the curve has aggressively flattened since then.

World Markets Slide Spooked By Latest N.Korea Statement; Dollar, Gold, Oil Jump

European and Asian market and S&P futures have resumed their slide, as geopolitical tensions between North Korea and the U.S. spiked again overnight after Pyongyang responded to the latest set of warnings by Trump, revealing a plan to fire 4 ballistic missiles at Guam by mid-August. Gold gains for a third day while Brent rose above $53.

Venezuela: Dictatorship, Collapse, And Consequence

"What's happening in Venezuela is a microcosm of the socialist cancer in action... It is not some self-contained rarity, it is the common and predictable outcome of a society based on collectivist servitude and false promises of equality."

The Secret History Of The Banking Crisis

"Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?"

How Much Gold Should The Common Man Own?

"It’s curious that people are worried about gold but not the obvious bubbles that surround them. Media contributes to the ignorance by demonizing gold while praising bubbles."