Alhambra has some pretty talented macro thinkers, but, like all of us, they do have their biases.

OMG The US Dollar

build that short... short... sh... sh... sh... short

USD/CAD Rate Breakout Flops Ahead of April High

Godspeed Boris! I will keep you in thoughts and prayers.

Boris Johnson admitted to the hospital suffering from coronavirus symptoms

Aw hell, I might even take a looksie at CJ...

Trump says if he has to put tariffs on oil imports to protect energy workers he will

I don't know what the possibility of tariffs has on oil prices. But I see no reason to stop building my shorts on UC and EC. Don't get caught on the long side.

Trump says if he has to put tariffs on oil imports to protect energy workers he will

I dont think you can divorce intent from actions. I agree that consequences should be brought to countries/institutions that attempted to cover-up and downplay the truth about the virus. But there is a difference between malicious intent and ...

Forget 'recession': this is a depression

SARS-Cov-2 has an r0 of about 2.5 which is significant but not much compared to measles, smallpox, polio. I like to wear my tinfoil cap as much as the next guy but viruses have always been with us. But that doesnt mean that it wasnt stored in some ...

Forget 'recession': this is a depression

The Sino-American relations reminds me of the Tiger King. People get these little tiger kittens when they are so small and cute. But then one day you get too close to the grown up tiger and swipe there goes your arm.

Forget 'recession': this is a depression

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Forget 'recession': this is a depression

Most people are still dealing with the initial shock of the pandemic. I think as this thing drags on from weeks to months you will see plenty of outrage and hostility directed at china. This and in a more long term notion the recognition that to ...

Forget 'recession': this is a depression

I don't think any of us know or have any good reason to believe that a supply cut will happen soon. I usually operate under the idea that people/industries/countries operate in self-interest. There has been an uncoupling of that principle lately. ...

OPEC+ meeting delayed as Saudi Arabia and Russia row over price collapse

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'Grim, but only the start': Here's what 5 economists have to say about the dismal March jobs...

This is a well-written, thoughtful, and decent article.

The Long Winter