Odd Lots

Bloomberg’s Joe Weisenthal and Tracy Alloway take you on a not-so random weekly walk through hot topics in markets, finance and economics.
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The COVID-19 crisis has pushed central banks around the world into uncharted territory. Typically when we talk about this, it's from the perspective …
For months now, traders have been positioning for a major volatility spike around the November election. But what are markets really expecting, and h…
Central banks around the world are increasingly launching pilot projects to explore the possibility of issuing digital currencies. But how would they…
With just two weeks until the election, talks over a stimulus deal remain ongoing, with negotiations having picked up between House Speaker Nancy Pel…
It's been an extraordinary year for traders of volatility. We had the crisis, we had this incredible surge in retail call options buying, and we have…
For over a century, tobacco stocks have been among the greatest investments in history, consistently outperforming other sectors decade after decade.…
In the wake of the Great Financial Crisis, you heard a lot of talk about the US becoming like Greece unless the budget deficit were brought under con…
Interest in quantitative investing strategies continues to grow; however, as the space gets more competitive, making money and winning gets harder an…
One of the guiding lights of Fed policy over the years has been the so-called Neutral Rate of Interest or R*. It's at this rate, theoretically, where…
In a carry trade, an investor borrows money cheaply to buy an asset that yields more. As long as nothing changes overall, the investors get to pocket…
These days it seems like all financial markets are the same big trade. A gold chart looks like a Tesla chart, which looks like an Ethereum chart, whi…
Back in 2017, during the Bitcoin boom, there were a number of different attempts to use blockchain technology to improve a host of businesses and ind…
Crypto is hot this year again. In 2020 we've not only seen a substantial rally across a lot of different coins, there's been an emergency of new expe…
The use of so-called "alternative data" has been gathering attention for some time. Investors have been looking at things like credit cards or satell…
One of the most intriguing subplots to the 2020 stock market boom has been the speculative fervor with which investors have dived into this market. A…
SPACs have been around a long time. The basic premise is that a group of people raise a bunch of money from public market investors, with the premise…
It's fun to talk about what money is, but often it's hard to connect the dots and make it actually relevant to the discussion of the economy and mark…
Paul McCulley is a former Managing Director at PIMCO and a legend of the industry, having helped coin phrases such as "shadow banking" and the "Minsk…
The Fed is facing historic challenges for two reasons. The first is the coronavirus and the task of facilitating the economic recovery. The second ch…
There are some sectors of the real estate market, such as suburban residential housing, that are doing just fine throughout this crisis. However, oth…
When COVID hit, people had visions of a plunge in home prices and a massive wave of evictions. So far, that largely hasn’t played out. On this episod…
In the United States, Black Americans have experienced persistently higher levels of unemployment than their White counterparts. While the Fed has fo…
The pandemic has been brutal for restaurants and other indoor entertainment venues. So imagine running a space that’s a restaurant, a bowling alley, …
For years, people have identified the lack of fiscal transfers and fiscal burden sharing as one of the glaring architectural flaws of the European ec…
In light of the massive disruption to the economy, there’s a widespread view that things have been permanently altered, that fiscal policy must take …
For years, macro hedge fund managers have been stalking the Hong Kong Dollar. Since 1983, the currency has been pegged at around 7.75 per US dollar, …
With so many people working at home, bored, and with no sports to bet on, there’s been an incredible explosion of retail stock market trading. One se…
Switching careers is always difficult. But former New Yorker staff writer Maria Konnikova did it in dramatic fashion. Konnikova decided that the best…
With the virus crushing economic activity, local governments have had to cut spending and rely on Federal support in order to maintain basic services…
In response to the economic crisis, governments around the world have engaged in stimulative policies that might be characterized as “Keynesian” in n…
Officially, the US unemployment rate stands at 11%. This is higher than the worst levels of the financial crisis. And there are reasons to think that…
The world has gotten angrier in recent years, and the coronavirus crisis seems likely to have accelerated the trend. So what does this say about the …
Central banks and fiscal authorities around the world have taken extraordinary measures to stem the economic fallout from the coronavirus crisis. But…
For years and years, the Chinese economy has been characterized as a bubble, with too much debt, and a history of badly thought out, state-directed i…
Nobody knows what the post-COVID future looks like. But there are some lessons to be learned from previous pandemics. On today’s episode we speak wit…
Chamath Palihapitiya is the CEO of Social Capital, the Chairman of Virgin Galactic and a partial owner of the Golden State Warriors basketball team. …
In the summer of 2004, Google went public and, as everyone knows, it’s done phenomenally well. What’s less known is that a few weeks later, Domino’s …
One of the characteristics of the pre-crisis (and perhaps also the post-crisis) economy is the presence of very low interest rates, and financial ass…
As many active fund managers have discovered in recent years, it’s extremely hard to find a sustainable edge in investing. But for people who put in …
Welcome to Part V of the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to …
Welcome to Part IV of the Odd Lots Libor series, in which Tracy Alloway and Joe Weisenthal take a look at life after Libor, the interest rate tied to…
Welcome to Part III of the Odd Lots Libor series, in which Tracy Alloway and Joe Weisenthal take a look at life after Libor, the interest rate tied t…
Troubles with LIBOR have kickstarted a massive project to transition to a new benchmark interest rate for financial markets. On the second episode of…
Welcome to the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to more than …
When people talk about the dominance of the U.S. dollar in global commerce, they often refer to it as a unique privilege of the Unied States that its…
The economic crisis will result in an extraordinary amount of pain for emerging markets. In addition to the health disruption, the global economic co…
Even with the recent stock market rally, expectations are poor for a robust recovery in the U.S. So what does history teach us about what works and w…
How should the government address the economic crisis? On this episode, we talk with Mark Cuban, the Shark Tank co-host and billionaire owner of the …
With the acute phase of the health crisis having faded in China, factory activity has ramped up again. One big problem though: With the economy so de…
Countries around the world are undergoing an unprecedented, simultaneous real economic shock. So how should policymakers respond? Richard Koo is the …
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