FLASHBACK: Nikki Haley in January: "The first party to retire its 80 year old candidate is going to be the one who wins this election."

Remember the basis trade? Record asset manager, hedge fund US Treasury futures positions of >$1 trillion not a problem if vol is low, rate changes are gradual. They may be vulnerable... COLUMN-US Treasury futures in unchartered waters as Fed cuts loom reuters.com/markets/us/us-…

CFTC data shows that as of Tuesday, asset manager long & hedge fund short US Treasury futures positions rose to new records worth $1.12 trln and $1.08 trln. Yield collapse since Thursday - 45 bps in 2y, 30 bps in 10y - will be hurting some of these highly leveraged funds.

And what the hell is the owner of this site - who has bigged up Tommy Robinson and Paul Golding - doing tell us that “civil war is inevitable” in Britain? Elon Musk and the role of X should be a major part of any investigation into the violence of the last few days

A reminder that Rishi Sunak proudly rolled out the red carpet for this guy just last year.

VIX volatility index - Wall Street's 'fear index' - surges above 65, its highest ever except for global financial crisis in 2008 and pandemic in 2020. Higher than peaks of Asian crisis, LTCM, dotcom crash, 9/11, taper tantrum, US debt downgrade, Volmaggedon. Panic or justified?

woah, maybe the US economy is not crashing? ISM services employment up 5 points to 51.1. Entire PMI in expansion

"Up the escalator, down the elevator shaft" - not dollar/yen, but US interest rates. Fed hiking cycles are often gradual - "measured pace", anyone? - but not easing cycles. This time is no different. COLUMN-Gradual Fed rate cut hopes were always misplaced reuters.com/markets/us/hop…

Can't say this enough; Elon Musk's menace to democracy is intolerable. He's using the largest & most influential platform in the democratic world to stoke racial conflict and civil breakdown - in his own posts & what X promotes. Democracies can no longer ignore this.

Japan leads the Asia-wide stock market recovery charge from Monday's selloff Monday - Nikkei 225 index -12.4%, second largest fall on record Early Tuesday - Nikkei 225 index +10 .3%, on track for third largest rise on record. A sign that Monday's volatility was way overdone?

Just Elon Musk quote tweeting the co-leader of far-right party, Britain First, who is sharing a fake Telegraph headline Seen by almost 1 million people in 15 minutes Utterly dystopian

Elon Musk shared a completely fake Daily Telegraph headline posted by Britain First's co-leader about "detainment camps on the Falkland Islands" for UK rioters to his 193 million followers and then deleted it without any explanation.

U.S. non-farm payrolls revised -818k in year to March

My job is to analyze policy. I can't even find a complete sentence in this