Gundlach Slams “Zombie Fed,” Says World Is “Losing Control”

Overseas markets got a bit of a breather Wednesday from the safe haven bid as everyone remained stuck in suspended animation ahead of the Fed decision. Come to think of it, that’s ironic because the Fed itself seems to be frozen. We’d be remiss if we didn’t talk about central banks today and tomorrow. As…

Fear Builds Ahead Of Fed, Brexit Vote As German 10-Year Goes Sub-Zero

It’s probably safe to say that there’s now a palpable sense of anxiety hanging over global markets. We previewed the flight to safety here yesterday, noting that Brexit risk was driving investors into supposedly “riskless” assets and haven currencies. Currencies like the yen, which is trying pretty hard to press towards 100, creating a rather…

Goldman: 100 Basis Points Equals One Trillion In Losses

On Friday, we got an abysmal NFP print. And that should have sent stocks soaring right out of the gate. As we explained here earlier today, bad economic news has traditionally been good news for equity investors and traders in the upside down environment that has largely characterized the post-crisis world. By the end of…

"So, Maybe July Then?”: Poor Jobs Report Puts Question Mark Over Fed

Bad news is good news. Or not. The market’s reaction to Friday’s NFP report betrays the extent to which investors and traders no longer have any idea how to read the Federal Reserve. There was a time when negative data was a guaranteed boon for risk. The worse the data, the better for stocks. Why?…

Fed Summer Survival Guide

Ok, so it’s Tuesday, which might as well be Monday thanks to the US and the UK being closed yesterday. I don’t mind penning “news-ish” market updates, but as regular readers here are probably aware, I prefer to outline my take on market themes or macro trends that I think matter from a big picture…

Sleepy Monday Markets React To Yellen’s Friday Yellin’ Ahead Of Payrolls

Well, that escalated quickly. Markets are reacting precisely as one would have expected after two solid weeks of hawkish Fedspeak and it’s not entirely clear how everyone feels about things. Maybe it’s just because the holiday limits news flow as well as overseas volume, but there seems to be a palpable sense of caution in…

What news will be a catalyst for the stock market?

Another critical time for the stock market. At this point one market catalyst can send stocks to new highs or to new lows. Let's look at some catalyst examples that are coming up that may dictate where stocks will be going for the rest of the year.

Wall Street To Fed: Promise Us You Don't Know What You're Doing

“That’s a risk that we live with every day and we’re going to live with that every day for many, many years to come, so I think you can’t be on pins and needles and say I’m not going to pursue the right policy for the U.S. because something bad might happen in that situation.”…

King Dollar Has “Unfinished Business”

This week was about one thing, and one thing only: uber hawkishness from the Fed. To be sure, “uber hawkishness” means something entirely different today than it meant in the Volcker years. Now, you’re a hawk if you think the Fed Funds should be 75 bps. Still, it’s all relative. We live in a world…

Why One Bank Thinks Emerging Markets May Be In Trouble

Let’s talk about emerging markets. Over the past five days, it’s become abundantly clear that the Fed was getting a bit nervous about the odds the market was assigning to a June rate hike. In short, it was readily apparent that virtually everyone assumed next month was a no go. The looming Brexit referendum only…

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