Big 5% down moves after 3% relief rallies…this is the kind of action you only see when there is a lot of stress in the market and is not a ‘bullish setup’ and clearly not a bottom yet. The lower Vix, weaker dollar theme didn’t last long at all…which way is up? Either Wednesday’s rally […]

Treasury yields up + market expectations for the path of Fed interest rate hikes up = bad news for stocks. Stocks in Europe and Asia slipped Wednesday after US markets registered their worst day in two months, with the S&P 500 down 2% to below 4,000, as investors reassessed how high rates will go and how long they will stay there.

The trading activity of Archegos was kind of wild. Archegos Capital Management “engaged in manipulative trading that impacted multiple securities”, the SEC alleges in a filing following the arrest by Feds of founder Bill Hwang and CFO Patrick Halligan. They’ve been charged with racketeering, fraud and market manipulation. The charge sheet focuses on the use of […]

Pure Alpha, Bridgewater Associates’s flagship fund, fell 4.9% in the first half of 2019 after being caught off-guard by a rebound in bonds and equities. The drop of nearly 5% in the first six months of the year is one of the worst performances for investment legend Ray Dalio’s $150bn hedge fund in the past […]

Green around the gilts? New net zero mandate for Bank of England CGT frozen – good news for investors Markets steady, gilt yields hit lows of the day “That which we are, we are”. Rishi Sunak channelled Tennyson and the wanderer Ulysses in one fell swoop to sum up his Budget. I’m none the wiser. […]