TMC #12! Another week without ''regime change'': lower yields, tech > value, and the bond market ignoring a 5% CPI print. And don't miss my new, free product for you!
Real yields were stubbornly low in the 1940s, and I expect the same in the 2020s. That's about it with the similarities though: watch out for the mater…
Mr. Bond Market got louder last week: further unwinding of reflation trades and resumption of secular trends. Where do we stand on The Macro Compass?
The private sector is over-leveraged and structural GDP growth is poor: we can't afford higher rates. The bond market knows it, and it's trying to talk…
Let's debunk some myths about the USD and explore why the US Dollar is such a crucial macro variable.
Markets are nothing else than a mechanism to aggregate a bunch of probabilistic scenarios and weigh them into one price: so, what are we pricing in tod…
Commercial banks and governments print ''real economy'' money, not central banks
A glance at the strategy I chose to invest my savings for the long-run and why I tactically turned bearish on the stock market.
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