![SHCOMP & CNY: 1993-1994 = 2015-2016?](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/2016-06-30-SHCOMP-USDCNH-1993-vs.-2015-Peaks-in-SHCOMP-Analog-Daily.png?resize=150%2C150)
SHCOMP & CNY: 1993-1994 = 2015-2016?
Much has been made about China’s need to devalue its currency vs. USD over the past year since the country abruptly nudged it immaterially lower in Aug-15. I honestly have no strong opinion or edge re: likelihood that this does or…
![Is that Something You Might Be Interested In?](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/2016-06-27-TNX-w-2-Day-RoC-SPX-EEM-Daily.png?resize=150%2C150)
Is that Something You Might Be Interested In?
Any former Entourage fan (we’re talking “deep cuts” fan) will remember the character of Bob Ryan, aka “What if I was to tell you…is that something you might be interested in?” Bob Ryan. For the unacquainted, Bob was best known…...
![Contradictions Do Not Exist (Was May-15 Really a "Major" Top?)](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/rand.jpg?resize=150%2C150)
Contradictions Do Not Exist (Was May-15 Really a “Major” Top?)
“Contradictions do not exist. Whenever you think that you are facing a contradiction, check your premises. You will find that one of them is wrong.” — Ayn Rand, Atlas Shrugged As intensely volatile – and often times scary – as the…
![Heading into BREXIT 2.0, Is US Long Bond Analogous to GBP in 3Q92?](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/2016-06-23-30-Yr-US-Bond-Price-Monthly.png?resize=150%2C150)
Heading into BREXIT 2.0, Is US Long Bond Analogous to GBP in 3Q92?
In a few recent posts I’ve highlighted that the discussions around BREXIT 2.0/ERM2 are occurring as the ratio of the Stoxx600 vs. SPX hits channel support for only the second time in history (on a monthly basis vs. three times on a daily)…....
![Relative VOL of UK Equity and FX Printing All-Time Highs into BREXIT Vote](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/2016-06-21-Ratio-UK-vs.-US-VIX-Daily-1.png?resize=150%2C150)
Relative VOL of UK Equity and FX Printing All-Time Highs into BREXIT Vote
Here’s a plot of the ratio b/t UK and US-based equity VOL. It’s printing all-time highs at the moment, well above previous highs. In the past, spikes to similar, yet slightly lower highs, have tended to approximate near-term capitulation lows…...
![All the Macro that's Fit to Print](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/2016-06-16-ECB-Deposit-Rate-w-DB-Weekly.png?resize=150%2C150)
All the Macro that’s Fit to Print
Every corner rounded seems to be producing a different chimera to be contended with at the moment. BREXIT, growing portions of sovereign debt lurching into negative-yield territory, NIRP chaos and its impact on Euro banks, China deval/credit collapse, Islamo-fascism, Fed tightening and…...
![The DAX Bear Rolls On](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2016/06/2016-06-10-DAX-Bear-Markets-2000-2002-vs.-2007-2009-vs.-2015-Current-Analog-Daily.png?resize=150%2C150)
The DAX Bear Rolls On
Here’s an update to the analog first presented in this post whereby we compared the DAX off its Apr-15 highs to the bear paths it took during its 2000-2002 and 2007-2009 bears. The current path (black) is updated to reflect…...