J. L. Livermore

https://stork club


QE & Deflation


Crude Oil Panic & Minsky Moment


Minsky moment is a term coined by Pimco economist Paul McCulley in 1998, and it refers to a point when a period of rapid growth and risk-taking leads to a sudden turn lower and a crisis.

Banks and investors bought high-yield bonds or leveraged loans on the energy sector not on the basis of their ability to repay it, but on the value of the oil in the ground. 

Now, they don't get the cheap funding anymore.





Recession & Panicking the Ruble



Swiss Gold & Eur/Chf
















FED/ECB Divergence

bonds: optimise convexity
currencies: usd/eur/jpy