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EM_Credit_Fund @emcreditfund.bsky.social · 29m

I'm starting to think the whole crypto experiment is a Government ploy to teach the population about the importance of financial regulation

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EM_Credit_Fund @emcreditfund.bsky.social · 23h

SPX 50DMA

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

Brazil corporate external debt market today

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

You know it's really bad when you stop getting runs from dealers...

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

Something weird is going on... my book is actually making money... Call the police.

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

If Scotty B is willing to buy Pesos... He is definitely willing to buy ARGENT USD bonds I would imagine...

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

'The Making of the Miracle', Javier Milei

Libertarian - until you need to ask Uncle Scott for money.

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

anyways... happy to mark my bonds up 6pts. Better lucky than good sometimes I guess...

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

... hope Caputo has learned his lesson (second time!!) and does a signficant deval post elections. Hope they do it. But given these events, I fear they might think that they can keep surviving by catching last minute hail mary's... as for Scott Bessent, you are even stupider than you look.

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

For the USA to buy the ONE thing that needs to devalue by 20-40% to get Argentina in a place where it can survive is really the dumbest thing I have ever seen. And I've seen some dumb things.

This is an absolute last minute hail mary catch for Caputo and econ team. A miracle wish answered. Lets...

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EM_Credit_Fund @emcreditfund.bsky.social · 2d

thankfully im not an equity guy so i dont have to decide that :-)

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EM_Credit_Fund @emcreditfund.bsky.social · 2d

given valuations in em credit, i actually don't think it is difficult to short... upside/downside in credit is skewed to downside in my opinion. equities a completely different thing, im not short equities

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EM_Credit_Fund @emcreditfund.bsky.social · 2d

the market is definitely agreeing with you there!

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EM_Credit_Fund @emcreditfund.bsky.social · 2d

valuations, positioning, deteriorating credits, global macro uncertainty, inflationary impulses... how much time you got? :-)

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EM_Credit_Fund @emcreditfund.bsky.social · 2d

I get luaghed at now when I say I'm short... I was max long on April 8th this year. Funny that.

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EM_Credit_Fund @emcreditfund.bsky.social · 3d

As US equities hit all time highs and everyone feels comfortable... I'd like to, humbly, remind people of the below...

EM_Credit_Fund @emcreditfund.bsky.social · Aug 13

Classic EM 'Trade-Off'

Autocrats take power & erode institutions while markets go higher bc people think, 'at least i'm richer while losing my rights'.

the thing is, markets are fickle and that new formed wealth can evaporate quickly but guess what never comes back? Institutions & your rights...

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EM_Credit_Fund @emcreditfund.bsky.social · 3d

Day 17 of being short EM Spreads...

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Reposted by EM_Credit_Fund

Carl Quintanilla @carlquintanilla.bsky.social · 4d

GOLDMAN'S ROB KAPLAN, on @cnbc.com:

".. I would tell you gold being up almost 40% year to date, .. that should be getting our attention, that's a -- that's a red light that we ought to be paying attention to."

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EM_Credit_Fund @emcreditfund.bsky.social · 3d

You all should go back and see what the SPX did when gold went bonkers in the 1970s and early 80s... It had a lost decade... And it started from much lower valuations then we have currently.

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EM_Credit_Fund @emcreditfund.bsky.social · 4d

***BREAKING: NVDIA DECIDES TO SELL CHIPS FOR 10% STAKE IN THE OTHER 499 S&P COMPANIES... SPX up 26% on the news

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EM_Credit_Fund @emcreditfund.bsky.social · 4d

This cycle's 'The Big Short' really isn't going to need any investigative journalism at all... it'll be pretty easy to write.

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EM_Credit_Fund @emcreditfund.bsky.social · 4d

i couldn't agree more.

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EM_Credit_Fund @emcreditfund.bsky.social · 4d

On Bloomberg TV just now:

Equity Analyst: '7200 SPX target YE 2026'

Anchor: 'Why you so bearish?'

My goodness.

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EM_Credit_Fund @emcreditfund.bsky.social · 4d

when the dollar sells off it is bullish for spx
when the dollar rallies it is bullish for the spx

hope that helps.

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