According to Bloomberg last week was the most volatile week in history. In my view the greatest risk at hand is the liquidity issue morphing into a solvency issue. I would like to use the $3.9 trillion municipal bond market as example of how trading...
Many times I have commented about the narrowness of the markets, the breakdown of “fail safe trading strategies,” and the intense concentration of funds into a handful of names. Yesterday Goldman further quantified this view stating the...
Equities—led by energy—advanced yesterday. As widely noted long time oil bear Goldman surprised all with its reversal regarding oil stating demand is now higher than input. It cited numerous reasons including the massive reduction in capital spending outside OPEC, supply disruptions in Nigeria, Libya and...
Earlier in the week I referenced Goldman Sach’s report stating how the unloved stocks are out performing the most owned [and loved] stocks. Today I will reference a short interest article that has validated some of my arguments as to why the typical stock had...
Last weekend I watched Ground Hog Day, thinking is this not occurring in the equity markets? Every day it is the same narrative. The Fed may/may not increase interest rates. Oil is going to continue to drop. China is going to bring the...
I have commented many times the markets have been co-opted by technology. An inordinate amount of market volatility is the result of indexing and ETFs, a view that is also partially shared by Fed Reserve Chairwoman Yellen....