Clearly won’t and cannot happen the Dollar would crash. But it’s the Yellen playbook, Bessant and co criticised here for it now they are doing the same. Basically they have little choice.
But no they are not going to stop issuing longer term debt.
Any opinion on what caused the sudden sell off in the equity indices, JJ?
I was scanning the news at the time and the only somewhat pertinent piece of news was that the US stopped trade negotiations with Canada. The financial news websites were attributing the sell off to that but I find it hard to believe. It just doesn’t seem like a factor that’s major enough to tank the markets that way.
Anyway, after some of the slow as molasses days we’ve had, I sure loved the action today!
Days leading up to significant benchmark periods are rebalancing often large flows. The last session is for settlement and window dressing for comp and incentives…
In general I think that's why last week was so strong, I know for a fact the big multistrats will swing the bat into the last week of the quarter if they think they can push things higher, and the traders on the other side will often shade their delta to run the same way.
Q2 has been awful for some so any scrap of performance into Quarter end will be chased.
President Trump: “I’ve instructed my people not to do any debt beyond nine months or so.” :)
https://x.com/Acyn/status/1938701620893888783
yes sir... He's right about rates and he's not afraid of inflation. The only way out of this mess is up.
Clearly won’t and cannot happen the Dollar would crash. But it’s the Yellen playbook, Bessant and co criticised here for it now they are doing the same. Basically they have little choice.
But no they are not going to stop issuing longer term debt.
Any opinion on what caused the sudden sell off in the equity indices, JJ?
I was scanning the news at the time and the only somewhat pertinent piece of news was that the US stopped trade negotiations with Canada. The financial news websites were attributing the sell off to that but I find it hard to believe. It just doesn’t seem like a factor that’s major enough to tank the markets that way.
Anyway, after some of the slow as molasses days we’ve had, I sure loved the action today!
Probably just a long starting to rebal in front of quarter end.
That’s fair. So many factors at play. Have a great weekend, sir!
although it would have been enough to tank stocks in Toronto!
Right. That would certainly make sense. There was an immediate reaction in USDCAD too which made sense.
Thank you JJ as always for the market perspective and the Great Song video!
Care to expand about the Monday will be different for metals comment, guessing related to end of month?
Days leading up to significant benchmark periods are rebalancing often large flows. The last session is for settlement and window dressing for comp and incentives…
Thanks, that's what I thought.
In general I think that's why last week was so strong, I know for a fact the big multistrats will swing the bat into the last week of the quarter if they think they can push things higher, and the traders on the other side will often shade their delta to run the same way.
Q2 has been awful for some so any scrap of performance into Quarter end will be chased.
I love that song too JJ. HAGW man.
HAGW… had to look it up! You too sir.
Eventually the nay sayers are gonna run out of excuses if this keeps up.
True that, sir. Money goes where it’s welcome.
Thanks, JJ. Lots of wins for Trump this week, ATHs in stocks, and those music "pop-ups" always restore my faith in humanity. Have a great weekend. V
You too sir