"Value = Beta right now, and given the hit rate of active funds at this point in time, history suggests we could see a beta-chase into year-end if fund managers essentially 'shoot for the moon'."
Despite, or perhaps thanks to the sharp selloff across the curve in the past three days, today's 3Y auction - the first coupon auction for the month of November - was an impressive success.
Researchers have escalated their claims about market manipulation in winter 2017, now claiming that a single whale was responsible for Bitcoin’s historic price surge...
... CTA model’s anticipation of pending SIGNAL “FLIP” TO SHORT (will go -29%) in both TY- and ED$- (ED4) positions remains firmly “in-place” and set to turn tomorrow...
We had a string of similar hiccups in 2007–2008. All were manageable but eventually they added up to something much worse. So, this wasn’t a good sign for market stability...
"Although October saw signs of manufacturing pulling out of its recent soft patch, the far-larger service sector remained in the doldrums as inflows of new work failed to grow for the first time since 2009..."
