10 Comments

I think Hugh’s spidey sense is off here. US Debt ceiling is going to roll out a huge amount of Long Duration Debt pushing the yield up while the short end continues to drop.

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Maybe the top is in:

Billionaire Chris Rokos De-Risks Hedge Fund After Losses

London-based firm sends letter to clients after FT report

Says firm played no part in discussions between regulators.

The firm sent the letter in response to a Financial Times story that said the US Securities & Exchange Commission raised concerns over Rokos Capital Management after an outsized bet on US government bonds backfired and forced the hedge fund to hand over large amounts of cash to its banks as collateral. The UK Financial Conduct Authority and the Bank of England declined to comment to the newspaper. A Rokos spokesman declined to comment when contacted by Bloomberg News.

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What do you make of equities from here?

They haven't repriced by as much as the bond selloff.

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Is not current bank issues deflationary where Hugh would be correct?

What are your thoughts on Dot plot showing Fed cuts going forward?

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After listening to you, I wonder if Hugh is a momentum guy and turned into a Paul Tudor Jones type market sniper...

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