Category Archives: futures

ERP-RIP

If we compare like with like, we find that the semi-mythical ‘equity risk premium’ may not be quite the yardstick it’s made out to be. In fact, the right sort of bonds have proven every bit as rewarding as stock, over the years and it’s cheap to bet they might do so again

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Dead Cat or Deep Value?

Since their Lockdown lows, commodities have performed as well as any other asset, though they still remain generally depressed. Can they now continue to rise?

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Overstretch

Markets have paradoxically both been on edge – and in the throes of euphoria – since the repo shock in mid-September, being at the same time alarmed and yet strangely reassured by the Fed’s frantic backpedalling and the $400+ billion boost to its balance sheet which this entailed. Extreme levels of overstretch are everywhere apparent.

To access this post, you must purchase Annual Subscription or Monthly Subscription.