It is the 15th of September 2019

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Confusion In Bond World, As Eurodollar Shorts Hit New Record High Over $3 Trillion

One week after we observed the biggest monthly short squeeze in 10Y TSYs in history, it was a relatively calm week in the longer-end of the Treasury curve.

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The Scariest Forecast For Treasury Bulls

With Trump's border tax adjustment looking increasingly likely, the stock market - as JPM has warned in recent days - is starting to fade the relentless Trumponomic, hope-driven rally since election day instead focusing on the details inside the president-elect's proposed plans. And, as explained earlier in the week, if the border tax proposal is implemented, economists at Deutsche Bank estimate the tax could send inflation far above the Federal Reserve's 2% target and drive a 15% surge in the dollar.

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Goldman Unveils The FX Doom Loop: Turns "Outright Negative" On Yuan Due To "Weak Link"

When we first presented the so-called "Nightmarish Merry Go Round", dubbed so by Bank of America because of the reflexive, recursive bond - and trap - that has formed between the Fed and markets...

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"But It's Just A 0.25% Rate Hike, What's The Big Deal?" - Here Is The Stunning Answer

After today's market plunge, the result of what even Goldman admitted may have been a major policy error by the ECB, suddenly the Fed's determination to hike rates in two weeks lies reeling on the ropes. After all, what the ECB did was an implicit tightening of reverse QE1 proportions  (it is no accident that the EURUSD is soaring as much as it did in March 2009 when the Fed unleashed QE).

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