Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

The Not Market

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The psychosis of this market has reached new heights. It’s just astonishing to me. For four years 0916-gaynow, we have eased ourselves into the warm bathtub of central planning and multi-trillion dollar make-the-rich-richer intervention. Everyone has grown so accustomed to it that it seems totally normal now.

This weekend has launched a new level of the bull-ghey, as we have our second example this month of the market rallying not on something that happened, but on something that didn’t. I did a post on September 3 commenting on how our not bombing Syria was the reason for the market’s rally. Today most equity indexes made their highest levels in the entirety of human history based on one flatullent, fatuous man not throwing his hat (I thought of something funnier, but it would be politically incorrect) into the ring for the Fed chairmanship. (more…)

The Yellen Daily BB Punch

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The big news over the weekend was that the (relatively) hawkish candidate for Fed Chairman Larry Summers withdrew as a candidate after it became clear that Summers faced strong opposition from numerous Democrats in the Senate and on the Senate Banking Committee. The favored candidate is now the (relatively) doveish Janet Yellen. As overnight markets opened on Sunday night the US dollar fell hard, US treasuries rallied strongly, and ES (Dec contract) gapped up hard to peak at 1703.75 before retracing a bit in overnight action that so far looks a lot like a bull flag. (more…)