All Burst, No Follow Through

Treasury By David Stockman.  |  November 14, 2018

The bulls sure broke with abandon this morning… But they were all petered out by noon. Maybe it’s inflation. Read More

Oh, It’s Probably Nothing…

Treasury By David Stockman.  |  October 23, 2018

So it must seem today, as the yield on the 10-year U.S. Treasury note eases back to 3.13% from as high as 3.25% a couple weeks ago... Folks, this is not about “good” or “bad. Read More

After Kavanaugh

Treasury By David Stockman.  |  October 8, 2018

Imagine the Donald… but “emboldened.” That’s a prospect a JPMorgan “cross-asset strategist” posed a couple weeks ago amid “U.S. economic and equity market resilience despite tariffs.” Well, the benchmark 10-year U.S. Read More

The Selling Never Stopped…

Treasury By David Stockman.  |  August 1, 2018locked

When winter first begins to bite and stones crack in the frosty night, when pools are black and trees are bare, ’tis evil in the Wild to fare. – J.R.R. Read More

A Midsummer Night’s ‘Mare

Finance By David Stockman.  |  July 31, 2018

To sleep – perchance to dream: ay, there’s the rub… – William Shakespeare, Hamlet (circa. 1599 – 1602) Let’s just concede “It’s absurd. Read More