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January 2025 Market Strategy
Everyone is bullish and fears nothing but a rate scare. I am bearish and I fear a growth scare.
 • 
Rene Bruentrup
2
Is it time to short natural gas?
BOIL is a structural short that always wants to be sold. But now may be more attractive than usually because a seasonal correction is overdue and the…
 • 
Rene Bruentrup
We need to talk more about the US Dollar.
Yes, a stronger dollar weakens corporate earnings. But it's also part of the mechanism that funnels capital into the US to drive its huge outperformance…
 • 
Rene Bruentrup
When will FOMO hit the housing market?
Prices are astonishingly robust against weak transaction activity and sentiment.
 • 
Rene Bruentrup
2
What's going on with bond yields lately?
We are seeing the final flush of the most important pain trade in recent history.
 • 
Rene Bruentrup
2
Rocket Companies Update (incl. Excel workbook)
Investors are capitulating due to the unexpected surge in mortgage rates. But the business is growing against a brutal macro backdrop. Once the cycle…
 • 
Rene Bruentrup

December 2024

December 2024 Market Strategy
Positioning and sentiment data suggest that this market is close to full risk-on that it seems impossible for it to live up to expectations. I expect a…
 • 
Rene Bruentrup
The German Energy Fiasco
Wind & solar are raising price volatility as expected. It's already an existential threat for the German economy and it seems destined to get worse as…
 • 
Rene Bruentrup
4
Fed Put? No, Treasury Call.
When the government switches from handing out free downside protection to free upside participation, investors replace their bets against downside by…
 • 
Rene Bruentrup
2
Is Mr. Market's rocket fuel running out?
Mixing easy fiscal with tight monetary policy created a bull on steroids. It's not just about savings injection. It's about oversupplying risk-free…
 • 
Rene Bruentrup
Strategic Bitcoin reserve?
Uncle Sam is supposed to be the next and the ultimate Bitcoin pumper. It's an idea that makes no sense which is why the rational expectation is that it…
 • 
Rene Bruentrup
18
The most important question in any bull case
Can you trust management?
 • 
Rene Bruentrup
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