The Week Ahead
It is better to sleep on things beforehand than lie awake about them afterwards.
-- Baltasar Gracian
Happy Sunday to all.
An interesting week with some clear reminders of summer liquidity. Some vol finally across most asset classes.
BOE 25ps as expected with some peculiar language, AAPL earnings ok, AMZN a blowout, non-farms below the low bar and revised lower 49k over prior months.
The main story of the week was probably the long end of the curve being under pressure.
Performance floating around +60% YTD…
Some eye-opening flows and lots to discuss this week, so no time for chit-chat and time to dive in.
The Usual Charts
The theme of the week… TDC = Tactically Dangling Carrots
Single Stock & Index
I will start off with the blunt version of what I am about to write… In my opinion, this is a place