It is the 21st of July 2017

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BofA Lashes Out At The Fed: "Take That Punch Bowl Away" Or Face A Crash

In a dramatic appeal for rationality at the Fed, Bank of America's global FX strategy team today released a note titled "take that punch bowl away", which laments that while central banks backtracked from their hawkish recent rhetoric this week, it warns that "they will be sorry if they allow bubbles" and predicts that vol will increase this fall adding that the bank remains "cautious and selective in EM FX, despite the Fed-triggered rally this week."

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Treasury Turmoil Returns As Fed-Flip-Flop Sends Stocks To Record Highs, VIX Below 10

Yellen's speaking again... give it all you've got!!

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"Quant Quake": What Was Behind Last Week's Historic CTA Crash, And Is Another One Imminent

While on the surface the market last week did nothing all that exciting, below it things were in abrupt turmoil - driven by the decoupling between stocks and bonds and the volatile, countertrend move in commodities and oil in particular - which was nowhere more evident than in the world of Risk-Parity funds and CTA, which suffered their worst two-week plunge since 2003.

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Gundlach: Bond Wipeout Is Just Beginning

It was already a jittery day for fixed income investors, with a bond rout which started after today's French auction was poorly received, unleashing a selling scramble and sending Bund yields above 0.50% for the first time since January 2016, and breaking out above a key support level, then crossing the ocean and slamming both US stocks and bonds. And according to Jeff Gundlach, who recently doubled down on his vocal bond bearishness on Twitter...

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Pimco CIO Says Firm Is "Reducing Risk Across The Board"

Mark Kiesel probably isn't the first name that springs to mind when Pimco's investment strategies are being discussed.  That honor, ironically, still resides with Bill Gross even though he departed the firm for Janus over 3 years ago. 

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