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EM_Credit_Fund @emcreditfund.bsky.social · 3h

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 · 4h

Day 17 of being short EM Spreads...

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Reposted by EM_Credit_Fund

Carl Quintanilla @carlquintanilla.bsky.social · 1d

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 · 12h

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 · 1d

***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 · 1d

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 · 1d

i couldn't agree more.

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

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 · 1d

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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EM_Credit_Fund @emcreditfund.bsky.social · 1d

Man investing is hard.

May 2025 vs October 2025... SPX is up 22% in the meantime...

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EM_Credit_Fund @emcreditfund.bsky.social · 1d

Man investing is hard.

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EM_Credit_Fund @emcreditfund.bsky.social · 2d

About to initiate coverage on French Government Bonds...

(jokes)

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EM_Credit_Fund @emcreditfund.bsky.social · 12d

HAPPY RYDER CUP DAY TO ALL WHO CELEBRATE!!!!

LET'S GO EUROPE!!!!

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EM_Credit_Fund @emcreditfund.bsky.social · 13d

Get in loser, we widening.

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EM_Credit_Fund @emcreditfund.bsky.social · 13d

Saved by the radioactive american spray tanned carrot top.

EM_Credit_Fund @emcreditfund.bsky.social · 19d

Alright, which one of you did this!? Admit it! 😂

(I'm long Argentina bonds)

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EM_Credit_Fund @emcreditfund.bsky.social · 14d

I mean, I'm long ARGENT bonds, so I guess I'm happy... but this is a crazy headline...

*TREASURY STANDS READY TO PURCHASE ARGENTINA USD BONDS: BESSENT

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EM_Credit_Fund @emcreditfund.bsky.social · 14d

Why own Ukrain 4.5% 2029s at 18.5% at 68c when you can own Ukrain 0% 2030s at 18.5% at 51.5c?

seems pretty obvious to me...

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EM_Credit_Fund @emcreditfund.bsky.social · 14d

Ukrain 0% 2035/36s Bs are 12pts lower or 20% since the below. I still don't like them... I think they get interesting at a 2-3pts spread higher than Ukrain 0% 2034s. Basically the option in the 35/36Bs is very low value... should continue to underperform

I like Ukraine Corps tho!

EM_Credit_Fund @emcreditfund.bsky.social · Aug 19

Look I've been one of the biggest Ukraine bulls the last 2-3yrs, but if you are buying the long end 35/36B's here at these prices, you BETTER be SURE Putin wants a peace deal in the near future...

I'm not so sure of that...

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EM_Credit_Fund @emcreditfund.bsky.social · 15d

*NVDIA STARTS A TAKEOVER BID FOR BAIN CONSULTING, OFFERS $100bln

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EM_Credit_Fund @emcreditfund.bsky.social · 15d

As a holder of Argentine USD external debt, I hope ONE of the (many) conditions Bessent and the US put on any support is an quick move to a free floating exchange rate after the midterm elections...

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EM_Credit_Fund @emcreditfund.bsky.social · 16d

hahaha

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EM_Credit_Fund @emcreditfund.bsky.social · 16d

Bonds up 15% in 3 days... and you might be asking yourself if you should be selling? I would ask yourself a different question... What in the world would you buy with those proceeds Vs Argentina 38s at 16% yield?

EM_Credit_Fund @emcreditfund.bsky.social · 20d

I'm long Argent 5% 2038s @ 51.5 or 18.5% yield.

A lot of bad new sis priced in. Even if Milei loses on the veto and in the midterms (which is a big assumption) I probably will get 2years of coupons and he has time to turn it around. Also who is the viable Presidential candidate for the opposition?

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EM_Credit_Fund @emcreditfund.bsky.social · 18d

100%. Pnl protection.

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EM_Credit_Fund @emcreditfund.bsky.social · 19d

EM HY puke-athon!!!!!

Welcome to EM HY Credit to all the newcomers experiencing this for the first time.

elmo from sesame street is standing in front of a wall of fire .

ALT: elmo from sesame street is standing in front of a wall of fire .

media.tenor.com

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EM_Credit_Fund @emcreditfund.bsky.social · 19d

Alright, which one of you did this!? Admit it! 😂

(I'm long Argentina bonds)

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