The Narrative Matrix
New from ET contributor Pete Cecchini ...
We talk all the time about the informational efficiency of markets. What if the real dimension we should fo…
Category: In the Trenches
A Cycle of Addiction
Negative rates create a cycle of addiction to even more negative rates in the future.
Why? Because captive buyers like pension funds require capital…
License to Kill Gophers
The desire of central banks to forestall recession at all costs reminds us of the war that groundskeeper Carl Spackler had with the gopher in Caddysha…
In the Trenches: Cake
The recent rally in U.S. equities is largely a result of market participants believing they can have their rate-cut cake and eat it, too.
ET contribu…
In the Trenches: Less Is More
At some point, all Fed Chairs learn that their primary function is just to wave their hands. Jay Powell has learned this sooner than most.
ET contrib…
In the Trenches: Command and Control
It all started with the Maestro, Alan Greenspan, and his determination to create a Great Moderation. And it was all going so swimmingly, too, until th…
In the Trenches: Bridge Out?
ET contributor Pete Cecchini, better known as Cantor Fitzgerald's Chief Market Strategist, is back with the December installment of his series, In the…
In the Trenches: A False Sense of Stability
In the first note from new Epsilon Theory contributor Peter Cecchini of Cantor Fitzgerald, Peter gives us a window into what a false sense of stabilit…