Markets Minus Illusions
Independent analysis and contrarian takes on finance, markets, and geopolitics.
Fed's Pivot: Market Overreaction or Genuine Shift?
Three months ago, consensus screamed 'higher for longer.' Today, the same voices whisper 'pivot incoming.' What changed, and what should matter to investors?
[MARKET BRIEFS]
Liquidity Conditions Tighten as Year-End Approaches
Fed funds futures pricing suggests 25bps cut by December, but real money flows tell a different story.
Credit Spreads: The Canary in the Coal Mine
High-yield spreads are flashing warning signals that equity markets are choosing to ignore.
[ESSAYS]
The Psychology of Market Extremes: From Euphoria to Despair
How behavioral patterns repeat across centuries, and why understanding them matters more than ever in our high-frequency world.
The Soft Landing Fantasy
Everyone's pretending the Fed can thread a needle that has never been threaded. Spoiler: They can't. This narrative exists to keep the party going.
Crypto's Institutional Adoption: Substance or Spin?
BlackRock's spot ETF approval was celebrated as validation. But who's actually buying, and why?