Link to slide deck: https://bit.ly/3qfu4gO -
Today we discuss the market action yesterday possibly suggesting a "buy the fact" moment for risk appetite on the debt ceiling lifting after the US Senate signed on to the deal yesterday. This, after many, ourselves included, have fretted the impact of the coming blitz of Treasury issuance on liquidity. We also quantify what is coming, in terms of the pace of Treasury bill issuance and discuss the confusion around the speculative positioning in treasury markets - is the pain trade for higher or lower yields? Elsewhere, have ECB expectations come off too aggressively, what are we watching for in crude ahead of the OPEC+s meeting this weekend, some stocks to watch, including Tesla, and much more, including several answers to SMC listeners' questions in our most recent survey. Today's pod features Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.
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Intro and outro music by AShamaluevMusic