Month: November 2018

Global growth is officially dead.

The markets picked up on this first, with Copper, Lumber, Industrial Metals and other economically sensitive asset classes collapsing starting in May.

Looking at those charts, it was easy to single out the Fed as the culprit, since the Fed’s hawkishness had ignited the $USD which in turn put pressure on commodities.

However, what’s happening now is much bigger than just the Fed. Between June and August, two of the stock markets that are most closely aligned with global trade (South Korean and Germany) topped.

And when I say, “topped” I mean they TOPPED and then proceeded to collapse.

Looking at those charts going into October, you could have argued that this was due to the Fed and the Trump trade war. Indeed, had the Fed STOPPED its hawkishness and the Trump administration managed to cut a deal with China last summer, it’s quite possible that the financial markets would have corrected, but we wouldn’t have had a full blown meltdown.

However, neither of those things happened. The Fed made it clear it’s going to hike until something breaks. And China, for whatever reason, has decided it would rather risk economic collapse, than appear weak against the US.

Which is when October hit… at which point it became clear that what’s now unfolding is no longer due to just trade tariffs and rate hikes. By the time October ended, an astonishing 89% of global assets were in the red for the year.

There is only one way to interpret that kind of bloodbath: we’re officially at the end of a credit cycle that began in 2009. The good times are officially over, and the bad times (the next crisis) is about to begin.

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

“How will we know when the Everything Bubble has burst?”

I had just finished a presentation on The Everything Bubble at an investment conference in Montreal when this question was asked.

My answer?

“You need to watch the junior debt markets. The tertiary bubbles in passive investing/ shorting volatility have already blow up. The issue now is whether this begins to spread to junior debt instruments like corporate debt. If that happens then yes, it’s time to start talking about a full-scale crisis”

We are now at that stage. The corporate debt market is putting it its worst year since… 2008.

Credit Markets Are Bracing for Something Bad

Cracks in corporate debt lead market commentary.

…the Bloomberg Barclays U.S. Corporate Bond Index losing more than 3.5 percent and on track for its worst year since 2008.

Source: Bloomberg.

Indeed, not only has the junk bond market broken its bull market trendline (red line) but it’s taken out CRITICAL support (blue line) as well.

This tells us that the crisis is picking up steam. We are now in the “early 2008” stage for the next crisis.We all remember what comes next

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

“How will we know when the Everything Bubble has burst?”

I had just finished a presentation on The Everything Bubble at an investment conference in Montreal when this question was asked.

My answer?

“You need to watch the junior debt markets. The tertiary bubbles in passive investing/ shorting volatility have already blow up. The issue now is whether this begins to spread to junior debt instruments like corporate debt. If that happens then yes, it’s time to start talking about a full-scale crisis”

We are now at that stage. The corporate debt market is putting it its worst year since… 2008.

Credit Markets Are Bracing for Something Bad

Cracks in corporate debt lead market commentary.

…the Bloomberg Barclays U.S. Corporate Bond Index losing more than 3.5 percent and on track for its worst year since 2008.

Source: Bloomberg.

Indeed, not only has the junk bond market broken its bull market trendline (red line) but it’s taken out CRITICAL support (blue line) as well.

This tells us that the crisis is picking up steam. We are now in the “early 2008” stage for the next crisis.We all remember what comes next

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

“How will we know when the Everything Bubble has burst?”

I had just finished a presentation on The Everything Bubble at an investment conference in Montreal when this question was asked.

My answer?

“You need to watch the junior debt markets. The tertiary bubbles in passive investing/ shorting volatility have already blow up. The issue now is whether this begins to spread to junior debt instruments like corporate debt. If that happens then yes, it’s time to start talking about a full-scale crisis”

We are now at that stage. The corporate debt market is putting it its worst year since… 2008.

Credit Markets Are Bracing for Something Bad

Cracks in corporate debt lead market commentary.

…the Bloomberg Barclays U.S. Corporate Bond Index losing more than 3.5 percent and on track for its worst year since 2008.

Source: Bloomberg.

Indeed, not only has the junk bond market broken its bull market trendline (red line) but it’s taken out CRITICAL support (blue line) as well.

This tells us that the crisis is picking up steam. We are now in the “early 2008” stage for the next crisis.We all remember what comes next

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

“How will we know when the Everything Bubble has burst?”

I had just finished a presentation on The Everything Bubble at an investment conference in Montreal when this question was asked.

My answer?

“You need to watch the junior debt markets. The tertiary bubbles in passive investing/ shorting volatility have already blow up. The issue now is whether this begins to spread to junior debt instruments like corporate debt. If that happens then yes, it’s time to start talking about a full-scale crisis”

We are now at that stage. The corporate debt market is putting it its worst year since… 2008.

Credit Markets Are Bracing for Something Bad

Cracks in corporate debt lead market commentary.

…the Bloomberg Barclays U.S. Corporate Bond Index losing more than 3.5 percent and on track for its worst year since 2008.

Source: Bloomberg.

Indeed, not only has the junk bond market broken its bull market trendline (red line) but it’s taken out CRITICAL support (blue line) as well.

This tells us that the crisis is picking up steam. We are now in the “early 2008” stage for the next crisis.We all remember what comes next

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

As I warned yesterday, the markets are entering “liquidation mode”

Earlier this year it was Emerging Markets.

Yesterday it was Oil.

And very soon it will be US stocks.

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

As I warned yesterday, the markets are entering “liquidation mode”

Earlier this year it was Emerging Markets.

Yesterday it was Oil.

And very soon it will be US stocks.

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

As I warned yesterday, the markets are entering “liquidation mode”

Earlier this year it was Emerging Markets.

Yesterday it was Oil.

And very soon it will be US stocks.

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

As I warned yesterday, the markets are entering “liquidation mode”

Earlier this year it was Emerging Markets.

Yesterday it was Oil.

And very soon it will be US stocks.

If you are not already preparing for this, NOW is the time to do so.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The markets are about to enter liquidation mode.

The Fed has made it clear that the only market event that would force it to stop hiking rates would be a collapse so massive that it impacts consumer spending. This means a 2008-type event.

By the look of things, we’re on our way towards that. The single largest financial transaction for most Americans is the purchase of a home. With that in mind, consider what the homebuilder industry is telling us about consumer appetite.

If you’re looking for a sign of what’s to come for the overall market. This is it. The stage is not set for a bloodbath as stocks meltdown to 2,100.

If you want a template for where we are right now, it’s “late 2007″… which means 2019 will be when the next crisis hits.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The markets are about to enter liquidation mode.

The Fed has made it clear that the only market event that would force it to stop hiking rates would be a collapse so massive that it impacts consumer spending. This means a 2008-type event.

By the look of things, we’re on our way towards that. The single largest financial transaction for most Americans is the purchase of a home. With that in mind, consider what the homebuilder industry is telling us about consumer appetite.

If you’re looking for a sign of what’s to come for the overall market. This is it. The stage is not set for a bloodbath as stocks meltdown to 2,100.

If you want a template for where we are right now, it’s “late 2007″… which means 2019 will be when the next crisis hits.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The markets are about to enter liquidation mode.

The Fed has made it clear that the only market event that would force it to stop hiking rates would be a collapse so massive that it impacts consumer spending. This means a 2008-type event.

By the look of things, we’re on our way towards that. The single largest financial transaction for most Americans is the purchase of a home. With that in mind, consider what the homebuilder industry is telling us about consumer appetite.

If you’re looking for a sign of what’s to come for the overall market. This is it. The stage is not set for a bloodbath as stocks meltdown to 2,100.

If you want a template for where we are right now, it’s “late 2007″… which means 2019 will be when the next crisis hits.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The markets are about to enter liquidation mode.

The Fed has made it clear that the only market event that would force it to stop hiking rates would be a collapse so massive that it impacts consumer spending. This means a 2008-type event.

By the look of things, we’re on our way towards that. The single largest financial transaction for most Americans is the purchase of a home. With that in mind, consider what the homebuilder industry is telling us about consumer appetite.

If you’re looking for a sign of what’s to come for the overall market. This is it. The stage is not set for a bloodbath as stocks meltdown to 2,100.

If you want a template for where we are right now, it’s “late 2007″… which means 2019 will be when the next crisis hits.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research