Back to InsightsUpdated 6 November 2026
3 JulyFX & RatesThe crowded euro short just met its falsifier, and the Treasury short-covering trade agrees with the squeeze
Hawk Thorne Research2 JulyEquitiesAuto earnings are splitting into winners and losers, and the index still can't tell the difference
Hawk Thorne Research2 JulyFX & RatesThe payroll miss the desk's falsifier demanded just landed, and the crowded euro short is now the trade to watch unwind
Hawk Thorne Research2 JulyMacro & PolicyA 57,000 payroll miss just handed the supply-tsunami thesis its first real test, and it's failing on cue
Hawk Thorne Research2 JulyCommoditiesCrude's stock draw to an eight-year low no longer moves the price, and that is the tell
Hawk Thorne Research2 JulyFX & RatesTokyo's intervention warning finds the yen short crowded and unhedged into payrolls
Hawk Thorne Research2 JulyEquitiesThe consumer-weakness thesis from 1 July just got a second earnings season's worth of confirmation, and Wall Street still isn't pricing it
Hawk Thorne Research2 JulyMacro & PolicyThe liquidity story just flipped, and risk assets haven't noticed yet
Hawk Thorne Research2 JulyFX & RatesThe euro short is now the most crowded trade on the board, and Friday's jobs data is the only thing that can unwind it
Hawk Thorne Research2 JulyCommoditiesThe short-covering the desk flagged on 1 July has stalled, and the tape now agrees with the glut story
Hawk Thorne Research1 JulyEquitiesConsumer demand is cooling faster than corporate cost cuts can offset it
Hawk Thorne Research1 JulyFX & RatesEuro shorts build even as the front end of the Treasury curve stops betting on higher yields
Hawk Thorne Research Commentary — Page 15 of | Hawk Thorne Insights