BTP 10yr spreads vs Bunds close to breaching 100bp #DraghiEffect https://t.co/wJHZlIMfGh
Alberto Gallo Thu 04 Feb 2021 15:34

US yields making new post-Covid highs on better jobs data, but there's still plenty of room to go wider #BoilingFrogs https://t.co/4NQLtqtge2
Alberto Gallo Wed 03 Feb 2021 13:28

Eurozone CPI was expected to rebound on base effects, but today's move is even larger than expected. The short story: a positive data point, also due to technical factors (change in weights, VAT increase). EU still needs more stimulus. https://t.co/6gPoJXzDCJ
Alberto Gallo Wed 03 Feb 2021 10:23

Eurozone CPI was expected rebound this year on base effects, but today's move is a larger rebound than expected. The short story: a positive data point, but the recovery will need more investment to generate sustainable growth and inflation. https://t.co/NLK72l92Ni
Alberto Gallo Wed 03 Feb 2021 10:13

https://t.co/XxrFoYvqjj
Alberto Gallo Tue 02 Feb 2021 21:17

While market gyrations and media narrative focused on stocks, bond yields have continued to quietly widen. Here's the 10yr US Treasury yield: back above 1.1% and still tight against inflation and growth. Bond investors should focus on return of capital. https://t.co/2EAcLEwLut
Alberto Gallo Tue 02 Feb 2021 13:17

Short interest, fixed income ETFs: https://t.co/Vpof2Oajw9
Alberto Gallo Mon 01 Feb 2021 13:56

Q: Are you worried about financial stability and bubbles that might burst, causing damage to the economy and pushing it into a deflationary spiral? Fed: "the connection between low interest rates and asset values is probably something that's not as tight as people think"
Alberto Gallo Wed 27 Jan 2021 19:54

Mr Schäuble is on point: EU countries should invest to boost productivity, not spend to save zombie sectors, as some are planning to do via @FT Link https://t.co/LldIQDB6lW
Alberto Gallo Tue 26 Jan 2021 12:13

All central banks in the world: we will control yields and volatility ECB: we have a holistic, multifaceted approach and we may or may not use our envelope fully
Alberto Gallo Fri 22 Jan 2021 08:24

Calm before the storm? Bond markets are pricing record-low volatility, despite record-high fiscal stimulus. There's plenty of trust in #QEinfinity and in the Fed's ability to control long-term yields. (TLT 1-month trailing implied volatility) https://t.co/leiwDhOQCi
Alberto Gallo Thu 21 Jan 2021 10:43

RT @donaldtuskEPP: We get to breathe fresh air again. Good luck Joe and Kamala!
Alberto Gallo Wed 20 Jan 2021 18:22

Higher inflation is coming and it will hit bondholders via @FT Link
Alberto Gallo Tue 19 Jan 2021 10:51

We have long argued about the collateral effects one-size-fits all policies like #QEinfinity have on the economy and society. This is a chance to get out of the trap. For more thoughts, stay tuned on our #SilverBullet investor letter. https://t.co/3dbGGYKpMk
Alberto Gallo Mon 18 Jan 2021 12:20

As we recover from the pandemic, the contours of a different, more polarised world are starting to appear. A K-shaped recovery where rich countries, large firms and asset owners are winning, while competition and productivity stagnate. Can President @JoeBiden fix capitalism? https://t.co/h5vlu7Tu6q
Alberto Gallo Mon 18 Jan 2021 12:20

Four out of five central banks are working on national digital currencies. How will monetary policy and our financial system change with a digital Euro/Yuan/Dollar? Welcome to the Brave New World Link https://t.co/WPOD6P5tDA
Alberto Gallo Mon 18 Jan 2021 08:30

Wildebeest, herd behaviour and asset bubbles Good #QEinfinity Friday from @FT @stefanwagstyl Link
Alberto Gallo Fri 15 Jan 2021 10:57

RT @EdwardGLuce: Biden should go on immediate war footing against global kleptocracy (and its enablers in America), says @b_judah and @Nate…
Alberto Gallo Wed 13 Jan 2021 06:15

On the other hand, a slowdown in growth or vaccinations could push spreads wider. For these reasons, we think holding a plain portfolio of bonds is not a great idea today, and investors should instead barbell their portfolios between cash and assets with more upside.
Alberto Gallo Tue 12 Jan 2021 18:20

That said, there's limited upside in bonds compared to last year. Holders or government debt or investment grade credit are navigating between two cliffs: on the one hand, the risk of overheating can drive long term interest rates even wider.
Alberto Gallo Tue 12 Jan 2021 18:20

Bond yields are widening, yet so far risk assets are holding. When does a benign widening turn into a more violent rotation? Real yields are key: most of the widening in $ bond yields has so far come with higher inflation expectations. https://t.co/kXiOeCmLfJ
Alberto Gallo Tue 12 Jan 2021 18:20

RT @johnauthers: You don't need a sophisticated model to show that U.S. stocks are untenably expensive, and that behavior is getting crazy.…
Alberto Gallo Tue 12 Jan 2021 07:34

A #bluewave means stronger fiscal stimulus in the US, and potentially a rise in inflation. Against that, the Federal Reserve has pledged to keep easing and let the economy run hot. The question for investors is - how low can real interest rates go? A historical perspective: https://t.co/eDz7vox82o
Alberto Gallo Mon 11 Jan 2021 11:53

After a decade of monetary policy dominance, fiscal stimulus is finally boosting growth and inflation, and markets are cheering. Valuations, however, are no longer as cheap as last year. Greed and euphoria call for caution and a more nimble portfolio construction. https://t.co/uYArALqUdH
Alberto Gallo Sun 10 Jan 2021 14:17

RT @donaldtuskEPP: I’ll be tweeting anyway. Donald T.
Alberto Gallo Sat 09 Jan 2021 17:17