All Time Highs In Fundamentals, Not Price
HOGWARSH
Textbook Head Fake Lack Of Direction Is A Direction Predicting September FOMC Reaction Functions
The TGA Is A Fed Liability
The “Bessent Put” Grows Last week’s “Treasury Twist” announcement of expanded buybacks met Bessent’s next signal released this morning:
This Is The “Bessent Put” That Isn’t
Welcome To The Bessent Put I did a live premarket rant Wednesday on Treasury’s expanded long-end buyback program that immediately triggered dollar down, yen up; yields lower, gold & equities higher – just as key support was threatened.
High Price, High Risk
The AI Memory Supercycle Hits Pause
Memorandum of Mis-understanding. We knew this day was coming given the mercurial nature of this POTUS, and the timing of an oil spike on Middle East War escalation AFTER the WTIC pre-Iran oil spike gap fill of $67.90 filled. 😉
Dispersion Unwind Meet Reverse Yen Carry Trade Unwind
Japan’s Intervention Isn’t Working | Yen As Political Instrument | Yen-Dollar-Oil Squeeze| BOJ Has A Fed Problem | Yen Freefall Danger: My Prediction | Upside Convexity Versus Downside Protection
Revisiting ‘Trend Portfolio Construction’ In An Era Of AI & Passive Investing
How To Create Alpha Outside Tech Focus on Value for Diversification & AI for Deliberate Concentration