TJM’s Latest Commentary

So now the rubber has to hit the road 3/17/17

So now the rubber has to hit the road. One of my fears is manifesting itself as we speak and the knock on effects may be felt in many other sectors. From time to time I have written about my … Continue reading

And the plot thickens 3/10/17

And the plot thickens. Over the last weekend the twittersphere exploded with Donald Trump accusing the last administration of spying. This obviously rattle some cages and we will see where the dust settles in due time. The interesting bit here … Continue reading

Happy March- 3/3/17

Happy March  – I waited up to watch the President’s speech last night. There was not a lot policy substance but it sure seems like the market is breathing a sigh of relief today as the equity futures are pointing … Continue reading

Hopium 1/22/17

Sometimes the middle of next week comes around way faster than one could ever imagine. Since I last communicated with you some things have become clearer and others not so much. We are still in the midst of a non-politician … Continue reading

Dow 20,000 1/25/17

Dow 20,000. What the heck. I was going to resist writing about it but at the time of going to press, we have breached it and traded fairly well above that new level. What does it mean to the man … Continue reading

The Quiet before the Storm 1/19/17

The Quiet before the Storm .It is an historic week this week. Nobody knows how this is going to play out. We have the inauguration of the 45th American president on Friday marking the official beginning to ‘twitter era’. We … Continue reading

Diagnostics By Candlelight 10/26/16

Inventories Down/Rig Count Up/ Oil Prices Peaked…for now Oil prices rose after Crude inventories were reported by American Petroleum Institute to have declined by 553,000 rather than increasing by 4 times that amount as expected, shocking traders and helping to … Continue reading

World Market Update 9/29/16

Eurodollar and Treasury futures are lower this morning with the yield curve having steepened modestly across both the first six years of Eurodollars (3bp) and across the Treasury curve (5-30’s out by 2 bp). Looking to recent price action and … Continue reading

FX Morning Commentary 9/21/16

Good Morning.  The BOJ and its decision on policy captured the attention of most of us during the overnight session and certainly created some nice short term volatility in Japanese markets.  In the end, rates were left unchanged, although the … Continue reading

FX Morning Commentary 9/6/16

Good Morning. Risk is trading with a nice bid as we start our week with Asian equities up nicely and EM maintaining its post US Payroll data rally from last Friday. In G10, the US Dollar is slightly lower across … Continue reading