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Notes From Underground: Yes, Its Been a Long, Lonely Summer for Mario Draghi

It seems that the ECB has been the forgotten soldier in the war against deflation. When Mario and company packed their speedos and the latest research from the… 613 more words


Notes From Underground: When China Shakes, the West Rattles and Rolls

Mao, Deng and Xi, oh my! It seems whenever China releases economic data, the U.S. markets and its developed market cousins either go into an orgasmic paroxysm or a spasm of pain. 782 more words


Notes From Underground: In Honor of French Independence, Europe Imprisons the Greeks

And so it goes. As the light lifts off the European “bailout” it appears that most analysts agree that the “Agreement” was a lose-lose for the European Project. 909 more words


Notes From Underground REISSUE: An Open Letter To the Davos Ruling Elites (Orig. Feb. 4)

***NOTE: On late Friday, Greek Prime Minister Alexis Tsipras announced on Friday that the Greek people will be voting on the latest aid proposals on Sunday, July 5, saying he would advocate a “no” vote. 670 more words


Notes From Underground: The OATS Prove a Better Sale

In late April I wrote a blog post titled, “Why Bill Gross Is Right and Wrong.” I noted that Bill Gross’s call on selling German bunds was inherently correct but the French OATS–the French 10-year note, would be the more profitable sale. 769 more words


Notes From Underground: You Will Learn To Live With Volatility

Last Wednesday, ECB President Mario Draghi warned the traders and investors in sovereign debt and other credit markets that great volatility would be the cornerstone of activity and the market would have to learn to deal with it. 1,208 more words


Notes From Underground: Ricky and Yra Down By the Schoolyard

Mr. Santelli interviewed me today and the topic evolved into Christine Lagarde and the IMF. The conversation was based on previous blogs as we discussed… 444 more words