Monthly Archives: October 2026

09Oct2:53 pmEST

Afternoon Update 10/09/26 {Video}

Read More

07Oct3:13 pmEST

Out of Tune

Despite some fairly hawkish Fed Minutes this afternoon it appears as though a solid 10-Year auction is sufficient to send rates back below 5.3% as I write this in the final hour. That said, rate-sensitive sectors like the REITs (IYR) and homebuilders (XHB) are not responding in kind to the fade in rates, at least not yet. Regarding the Minutes,...

Read More

06Oct2:57 pmEST

Film Noir Market

One of the central elements of the film noir genre is a fatalistic storyline. Fatalistic is defined as the belief or attitude that all events are predetermined, inevitable, and impossible for humans to change or avoid. Thus, when viewing the price action across markets these days, one cannot help but wonder if we have a fatalistic storyline...

Read More

05Oct2:25 pmEST

MOVE, VIX, Get Out the Way

The Merrill Lynch Option Volatility Estimate (MOVE) Index reflects the level of volatility in U.S. Treasury futures. In effect, the MOVE Index is considered the "VIX" of the bond market, reflecting implied volatility and regimes of higher volatility in general where the bond market is unhinged. In addition to the action in high yield corporate...

Read More

02Oct3:16 pmEST

Afternoon Update 10/02/26 {Video}

Read More

01Oct3:12 pmEST

Even the Groundhog is Tired of This Market

To say that this market has been stuck in a redundant feedback loop which would make Groundhog Day (1993) blush would be the understatement of the century at this point. In particular, each and every single day (and overnight) the tape is bombarded with headlines from Trump, the White House, and various Fed-heads attempting to assuage any...

Read More