Sitemap - 2021 - Cheap Convexity
Omicron Showed that the Fed Put has been Re-struck Lower
Thinking About the Omicron Effect
The Disconnect Between EMFX and Hawkish Central Banks
Is Short JPY the Next Big FX Trade?
Fed Preview: Hawkish Optionality is not Incompatible with FAIT
How Stable is China's Current FX Policy?
Can FAIT avoid the BoE’s fait?
Central Banks are Nervous, Which is Hawkish
The Tricky Duality for Risk Assets, Growth vs. Implieds
Whatever Coalition is Formed in Germany, Europe is Healing
Previewing the Central Bank Madness
Dovish in Theory, More Hawkish in Practice
Macro in a World of Conflicting Signals
The RBNZ, Idiosyncratic or a Dovish Warning?
Clarida vs. Brainard and the Battle for FAIT
Should China Macro be worried about China Tech?
Three Themes for the Post June FOMC
The Bond Market is not Omniscient
The Bond Market is Now Short Powell
ECB Strategic Review, The Formalization of Draghinomics
Central Bank Divergence Part 2
Nobody is Bullish Enough on Growth
The Copper Bull Market has Only Just Begun
Why Doesn’t the Market Care about Inflation?
Two Different Reaction Functions
The Credit Impulse is not Telling the Whole Story in China
EM won't Fear Taper this Time Around
Is Taper Now a Dovish Catalyst?
This Week Changes Nothing for the FOMC, but it Does Present a Communication Challenge
The U.S. Economy is on Fire, but it’s kind of a Mess Right Now
Yellen's Comments and the Age of Orthodox Heterodoxy
Is the Summers Residual here to Stay?
The ECB's Shallow Follow Through
Central Bank Divergence is Here
Under The Fed's New Framework, is Calendar Guidance Inevitable?