Almost Daily Grant's

“Almost Daily” is the new, end-of-day delectation from Grant’s.

ADG tells you what happened. It speculates on what may happen and tracks and develops Grant’s themes. Look for it after the New York close of trading—almost daily.

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Friday, December 7, 2018

Cancun swoon
Last Saturday, left-wing populist Andrés Manuel López Obrador (AMLO for short)

Recap Dec. 7

Thursday, December 6, 2018

Board games
This bellwether got rung.

QT progress report

Recap Dec. 6

Wednesday, December 5, 2018

Schumpeter-ism, with Chinese characteristics
Creative destruction, by government fiat.

Franchise player
The beef wars are raging.

Tuesday, December 4, 2018

So much for the honeymoon
From Reuters:

Curve sketching
Big doings in the government bond market.

Recap Dec. 4

Monday, December 3, 2018

The end of the beginning
The training wheels are coming off.

Recap Dec. 3

Friday, November 30, 2018

Mobile command
Will Uncle Sam sign off on the proposed merger between T Mobile U.S., Inc. and Sprint Corporation,

Game of Monopoly
“There are now more indexes than stocks,” blared a May 2017 Bloomberg headline.

Recap Nov. 30

Thursday, November 29, 2018

Just a billion
From the South China Morning Post:

Plumber's crack

QT Progress report

Recap Nov. 29

Tuesday, November 27, 2018

Door busters
It’s a buyers’ market in the Big Apple.

Big River
Power up.

Recap Nov. 27

Monday, November 26, 2018

China chalet
Two ships in the night.

Recap Nov. 26

Wednesday, November 21, 2018

Sturm und Drang

Tuesday, November 20, 2018

Tipping point
For the first time since 2008, high-yield and investment-grade Bloomberg Barclays benchmark indices priced in both euros and dollars are poised

Recap Nov. 20

Monday, November 19, 2018

Bailout brigade
Somebody will have to pay.

Recap Nov. 19

Friday, November 16, 2018

Supply managment
Things are heating up a bit on the speculative end of the credit spectrum.

Chip which
Crypto’s doppelganger indeed.

Thursday, November 15, 2018

Delinquent youth
On Tuesday, Pennsylvania-based regional bank Customers Bancorp, Inc. (CUBI on the NYSE) announced it would restate

Bad dream
Crypto awoke with a start yesterday,

QT Progress report

Recap Nov. 14

Tuesday, November 13, 2018

Venture land
Here comes the Son.

Recap Nov. 13

Monday, November 12, 2018

Going south
Investors are learning the hard way to expect the unexpected in Mexico.

Recap Nov. 12

Friday, November 9, 2018

Ham and wry
Covenant-lite, with Chinese characteristics.

Steady as she goes
The knives are out in the energy patch.

Recap Nov. 9

Thursday, November 8, 2018

No shirt, no shoes, no problem
The economy is booming.

QT progress report

Recap Nov. 8

Wednesday, November 7, 2018

Out from the cold
Swiss luxury brand Hublot is launching a new line of watches with an unusual twist.

Now, this is passive.

Recap Nov. 7

Tuesday, November 6, 2018

Night rider
Move over, motorists.

Ships in the night
Uncle Sam may be drowning in red ink, but local government balance sheets continue to improve.

Recap Nov. 6

Monday, November 5, 2018

Slim pickings
Behold, the accommodating credit markets of 2018.

Something borrowed
A pair of anecdotes, from Bloomberg:

Is the world’s second-largest economy preparing to once again rev the stimulus engines?

Recap Nov. 5

Thursday, November 1, 2018

He said it
Here’s BlackRock, Inc. CEO Larry Fink,

Bond Street
Let’s call it high-er yield.

QT Progress report

Recap Nov. 1

Tuesday, October 30, 2018

No limit hold 'em
The Bank of Japan concludes its two-day policy meeting tomorrow,

Recap Oct. 30

Monday, October 29, 2018

Pile up

Bolso would

Recap Oct. 29

Friday, October 26, 2018

Recap Oct. 26

Paper trade
From Fox News:

Wild Turkey
Is the crisis abating in the land of Erdogan?

Thursday, October 25, 2018

Recap Oct. 25

Till the medicine takes

QT Progress report

Wednesday, October 24, 2018

Recap Oct. 24

From where you sit
Last week, a pair of Deutsche Bank AG traders were convicted of conspiracy and wire fraud charges

Term paper
It’s a changing of the guard.

Tuesday, October 23, 2018

Recap Oct. 23
Another volatile trading

Relationship counseling
The high yield drought continues.

High jump
The irresistible force meets the immovable object.

Monday, October 22, 2018

Don't shoot the messenger

Store credit
The economy is firing on all cylinders.

Recap Oct. 22

Friday, October 19, 2018

Agent provocateur
From Reuters:

He said it
“Some of the analysts who can’t read numbers.”

Bad back

Recap Oct. 19

Thursday, October 18, 2018

Road to nowhere

QT progress report

Recap Oct. 18

Tuesday, October 16, 2018

On the back foot
It was a familiar scene to many a fund manager.

Recap Oct. 16

Monday, October 15, 2018

Rest' stop
Tough times continue apace for the restaurant industry,

Recap Oct. 15

Friday, October 12, 2018

Recap Oct. 12

Tesla searches for liquidity
From Business Insider:

Honor among thieves
On Tuesday, reported an eye-catching development in the digital currency realm:

Wide bloat

Thursday, October 11, 2018

Opposite day
Kanye West visited the White House today.

Squeeze, Inc.

QT Progress report

Recap Oct. 11

Wednesday, October 10, 2018

Flying squirrel. Grounded.
From the Associated Press:

And so it came to pass
During yesterday’s 2018 Grant’s fall conference at the Plaza Hotel

Still the epitome of the cycle
They’re looking to make it official.

Recap Oct. 10

Monday, October 8, 2018

Potemkin village
Down goes the renminbi.

Recap Oct.8

Friday, October 5, 2018

Cooking with gas
On Wednesday,

Basis pointers
The selloff in U.S. Treasury bonds has accelerated in recent days,

QT Progress report

Recap Oct. 5

Tuesday, October 2, 2018

They ate the cake
Another large deal is in the books.


Recap Oct. 2

Monday, October 1, 2018

Are we there yet?
Mission accomplished.

Sold to you
While bitcoin is down 63% from its December peak, enthusiasm for the digital ducats remains brisk.

Recap Oct. 1

Thursday, September 27, 2018

Tip of the iceberg
No news is good news.

QT progress report

Recap Sept. 27

Wednesday, September 26, 2018

Wither the drillers?

Recap Sept. 26

Tuesday, September 25, 2018

Fancy restaurant
It’s leverage on top of leverage.

Recap Sept. 25

Monday, September 24, 2018

The Negotiator

Recap Sept. 24

Friday, September 21, 2018

Your Latest Trick
British rock band Dire Straits,

Help really wanted
Inflation is stirring.

Recap Sept. 21

Thursday, September 20, 2018

Leverage lamentation
With apologies to Homer Simpson, here's to debt: The cause of, and solution to, life's financial problems.

QT progress report

Recap Sept. 20

Tuesday, September 18, 2018

Muppets take Manhattan

Attention: deficit disorder

Recap Sept. 18

Friday, September 14, 2018

In other news
From Agence-France-Presse:

Tail wags the dog

Recap Sept. 14

Thursday, September 13, 2018

Playing Ketchup
It’s been a tale of two halves for the Kraft Heinz company.

QT progress report

Recap Sept. 13

Wednesday, September 12, 2018

Yesterday, from Bloomberg:

Low energy

Recap Sept. 12

Tuesday, September 11, 2018

Fine print foibles
The books are open.

Recap Sept. 11

Monday, September 10, 2018

Wealth defect
Over the weekend, Global Financial Crisis-era policymakers Ben Bernanke, Timothy Geithner and Henry Paulson brought the band back together

Ma Ma, hey hey
While the U.S. stock market maintains its upward trajectory,

Recap Sept. 10

Friday, September 7, 2018

"Senators, let me be clear:

Recap Sept. 7

Thursday, September 6, 2018

Multiple personalities

QT progress report

Recap Sept. 6

Tuesday, September 4, 2018

First shall be last

Recap Sept. 4

Friday, August 31, 2018

Dog day afternoon

Recap Aug. 31

Thursday, August 30, 2018

Back to the Future
It sounds vaguely familiar: A potent U.S. bull market runs headlong into an emerging markets crisis.

Great moments in corporate communications
Yesterday, China Properties Group Ltd. (1838 on the Hang Seng) reported

QT Progress Report

Recap Aug. 30

Wednesday, August 29, 2018

Turkish bath

Recap Aug. 29

Tuesday, August 28, 2018

Bean oh
Today, the Invesco Deutsche Bank Agriculture Fund ETF (DBA on NYSE Arca),

Recap Aug. 28

Monday, August 27, 2018

Forest for the trees

Recap Aug. 27

Friday, August 24, 2018

No context, no problem
Your headline of the day (year?), from the Miami Sun Sentinel:

Take it all
A changing of the guard is afoot in the Big Apple.


Recap Aug. 24

Thursday, August 23, 2018

Canada dry

QT progress report

Recap Aug. 23

Tuesday, August 7, 2018

Earplugs optional
Grist for a potential sequel to Dazed and Confused?

Dark Star
Silence is golden, usually.

Recap Aug. 7

Monday, August 6, 2018

Post pattern
Cleanup in aisle three.

Recap August 6

Friday, August 3, 2018

Down in the bottom
From Denver’s NBC9 news:

Step Brothers
Like Frank Costanza, King dollar is a Phoenix, rising from Arizona.

Recap August 3

Thursday, August 2, 2018

The Producers

QT progress report

Recap August 2

Wednesday, August 1, 2018

What lies beneath


Recap August 1

Tuesday, July 31, 2018

Shiver me cryptos
On July 18,

C.C.C. Rider
Happy days are here for holders of some of the dodgiest credits around.

Recap July 31

Monday, July 30, 2018

The Hangover
It wasn’t much of a party.

Recap July 30

Friday, July 27, 2018

Deleveraging, we hardly knew ye.

Recap July 27

Thursday, July 26, 2018

Zuck Zuck goose
A bump in the road, or something more?

QT progress report
The break is over.

Recap July 26

Tuesday, July 24, 2018

Tool time
Set it and forget it.

Recap July 24

Monday, July 23, 2018

Offer wanted
As the Fed tightens and the ECB discusses the end of EZ-money, whither the Bank of Japan?

Recap July 23

Friday, July 20, 2018

Trump tweets

Yuan headlight

Recap July 20

Thursday, July 19, 2018

Bernank the tank
Tough crowd.

QT progress report

Recap July 19

Wednesday, July 18, 2018

Turkey club

Recap July 18

Tuesday, July 17, 2018

Now is the winter of our streaming content
The bulls received a jump scare straight out of Stranger Things.

Recap July 17

Monday, July 16, 2018

Hello Altice
Many happy returns in the corporate bond market.

Recap July 16

Friday, July 13, 2018

Community-adjusted protein
WeWork, you never disappoint. From Bloomberg:

You get what you pay for
It’s the private-sector version of the “zero lower bound.”

Recap July 13

Thursday, July 12, 2018

Two ships in the night

QT progress report

Recap July 12

Tuesday, July 10, 2018

Flat top fade
The speculators have arrived.

Recap July 10

Monday, July 9, 2018

A programming note

China check

Recap July 9

Friday, July 6, 2018

Bean there done that
Time waits for no ship.

Recap July 6

Thursday, July 5, 2018

One from the vault

QT progress report

Recap July 5

Tuesday, July 3, 2018

Bear on the 4th of July
From the Associated Press:

From Washington D.C. to Menlo Park

Recap July 3

Monday, July 2, 2018


How the turntables have turned

Recap July 2

Friday, June 29, 2018

Them's fightin' words
During last night’s ballgame, Cincinnati Reds first baseman Joey Votto

Slick Rick
We’ve got a gusher.

Recap June 29

Thursday, June 28, 2018

It's a small world
The buck stops where?

QT progress report

Recap June 28

Tuesday, June 26, 2018

Elevation grade
The bears are circling the corporate bond market.

Recap June 26

Monday, June 25, 2018

Hungry like the wolf
We may soon find out if bigger is indeed better.

Recap June 25

Friday, June 22, 2018

Petal to the metal
Records are made to be broken.

Thursday, June 21, 2018

Mystery fridge
Like referees in sports, it’s rarely a good thing when auditors are in the news.

QT progress report

Recap June 21

Wednesday, June 20, 2018

Addition by subtraction
It was only a matter of time.

No pain, no grain
The proof is in the pudding.

Recap June 20

Tuesday, June 19, 2018

We'll make it up on volume

Dance of the living dead
Mixed signals abound in the U.S. corporate credit market.

Recap June 19

Monday, June 18, 2018

Last shall be first
It’s not just your imagination.

Open 'doors'
It was a different kind of rent-to-own.

Recap June 18

Friday, June 15, 2018

What's in your wallet?
This morning, the Argentine peso rallied by nearly 5% against the greenback

Tether ball
Will the last crypto bull please turn out the lights?

Recap June 15

Thursday, June 14, 2018

Phone home
It’s alive!

QT progress report

Recap June 14

Tuesday, June 12, 2018

Sunshine haymakers

Recap June 12

Monday, June 11, 2018

Weapons of Mass Profit
Emerging markets have taken center stage, all but one:

Recap June 11

Friday, June 8, 2018

Friday deep thought

Knock on, drag out
The screws turn a little tighter.

Recap June 8

Thursday, June 7, 2018

Notable quotable

Tandem climb
There’s a party in junk bonds, but where are the attendees?

Recap June 7

Wednesday, June 6, 2018

Windward tack
Is the government thumb finally coming off the scale?

Recap June 6

Tuesday, June 5, 2018

Facial recognition

Recap June 5

Monday, June 4, 2018

It's all relative
Last week, Ted Livingston, CEO of messaging app Kik

Submerging markets
Are the storm clouds abating in emerging markets?

Recap June 4

Friday, June 1, 2018

Loan Star

Recap June 1

A sneak peak at the latest Grant's...

Thursday, May 31, 2018

Part and parcel
Let’s check in on the Great White North,

QT progress report

Recap May 31

Tuesday, May 29, 2018

Zone defense

Recap May 29

Friday, May 25, 2018

As the Memorial Day weekend is upon us,

Thursday, May 24, 2018

CoCo beware
What bull market?

QT progress report

Recap May 24

Wednesday, May 23, 2018

Communication breakdown
Time for plan B.

Slumbering samurai

Recap May 23

Tuesday, May 22, 2018

Under the hood
No ZIRP? No problem, mostly.

Recap May 22

Monday, May 21, 2018

Debt decision
Price action in the stock market appears healthy,

A crowded table
It was an un-bullish omen.

Recap May 21

Friday, May 18, 2018

Fun with filings
Interesting doings of late in the Securities and Exchange Commission’s EDGAR database.

Recap May 18

Thursday, May 17, 2018

BEN down this road
Hasenstab to the rescue!

QT progress report

Recap May 17

Tuesday, May 15, 2018

Where the rubber meets the road
The second-longest postwar expansion on record continues at a humdrum pace.

Recap May 15

Monday, May 14, 2018

Harder they come
It’s a brave new world in the credit market.

Recap May 14

Friday, May 11, 2018

Inter-species diplomacy
From the New York Post:

Hotel California
We can say this for emerging markets: They are definitely not boring.

Recap May 11

Thursday, May 10, 2018

Credit check
Bond bulls caught a reprieve.

QT progress report

Recap May 10

Wednesday, May 9, 2018

We have ice cream at home, kids
It was an incongruous sight in the midst of what is already the U.S.’ second-longest post-World War II economic expansion, even before the tax cuts.

Recap May 9

Tuesday, May 8, 2018

Ball four
Escalator temporarily out of order.

Recap May 8