Lord Fed's Gazette

Lord Fed's Gazette

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The Week Ahead
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The Week Ahead

Volume 58 - Stopped in, stopped out and shaken all about

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Lord Fed
Jun 19, 2023
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“Be brave. Take risks. Nothing can substitute experience.”

-- Paulo Coelho

Last week’s post was titled “Stop in, stop out, shake it all about” - a short post that couldn't have been more spot-on, if I may say so myself.

  • “Something I read in a GS FICC & Equities note makes this section much easier… ‘As is so often the case, the simplest messages often have the greatest impact’. The dollar is not a buy.”

    • “My Rule Britannia theme continues for cable - 1.28, here we come.”

      • Rule Britannia theme does not spill over to rates… I am currently short SONIA Jun 24 at 94.37; more details on this later in the post…

  • “I still cannot see any top for AAPL and MSFT.”

    • Maybe the tenth time I have said it this year.

  • “We already have the IWM bull calls for July hence my purchase of the S&P e-mini 4400 call at 11.75 this morning. SPX calls are cheap…”

    • cheap indeed… we were offloading them up in the 70s

  • “a one-week ATM straddle costs 1.34%, which is cheap. Breakevens on that SPX 4300 straddle are ~4242 and ~4358… With all the events this week, it could be a good trade to (for once) buy a straddle.”

    • sold at 136…

  • “Expect the dots to show one additional hike to 525-550.”

    • Not correct…

Have a read below…

The Week Ahead

The Week Ahead

Lord Fed
·
June 12, 2023
Read full story

More old levels…

Our SOFR put fly finally expired on Friday, which worked wonders… Not much to add regarding last week.

A quieter week in the US. BOE on Thursday…

Let’s begin this post with UK rates…

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