Yield Curve

Seven Charts For Bullish Investors To Ignore

Wall Street still exudes widespread optimism that 2017 will provide another year of solid gains for stocks amid stable albeit unspectacular economic growth and only gentle interest rate rises. However, as The FT details, all is not well in reality, and the following seven charts will hearten investors of a more bearish persuasion...

Japan's 10Y Yield Drops Below Zero Again: All Eyes On The BOJ

With every other asset class roundtripping the November election outcome, it was only a matter of time before Japan's 10Y JGB retraced the entire "reflationary" move from 0.0% to 0.1%. And, sure enough, after today's violent deflationary capitulation, moments ago Japan's JGB 0.1% of 2027 once again dipped back under 0%, sliding as low as -0.003% as deflation returns with a whimper.

Former 'Permabull' Strategist Sees More Warning Signs For Stocks

For the first time since Brexit, the term structure of volatility expectations has inverted and for former 'permabull' Tom Lee, that spells trouble ahead for stocks. Fundstrat's chief strategist remains cautious on equities in the first half of the year, saying volatility measure readings show that the market is sensing near-term “event risk.”

We're All Yen Traders Now

At almost 90% of GDP, the Bank of Japan’s balance sheet is just bat shit crazy! No other way to describe it...

Turkish Referendum Full Preview

On Sunday, Turkey will vote in a hotly contested referendum on the presidential system, whose outcome could place sweeping new powers in the hands of President Tayyip Erdogan and herald the most radical change to the country's political system in its modern history. Here is the full preview.

Janet Yellen Is The Second Worst Dove In History

"The most amusing part of yesterday’s market move is that anyone was surprised by Trump’s comments. The United States has a President that made his fortune on the back of debt, yet somehow the market thinks Trump will govern in a tea-party-hard-money fashion. Nothing could be further from the truth. He says Yellen is 'not toast'. Well, I disagree."

S&P Futures Slide Ahead Of Bank Earnings

S&P futures extended their Wednesday decline, dropping in the overnight session with banking shares in focus ahead of results from JPMorgan and Citigroup. European stocks likewise retreated along with the dollar, while Asian shares were mixed.

"The Fed Is Once Again Making A Policy Error"

"I must admit, I am a little surprised the Fed's goal of withdrawing accommodation without having the whole financial system come crashing down has gone so smoothly. But I wonder if the Federal Reserve isn’t pushing their luck..."