Since The Plague…
Americans were the most pessimistic last month on the US labor market since the world’s
As Trump Assails Canada, China Paces For Another $1 Trillion ‘Win’
Xi Jinping’s on track to break his own trade surplus record. That was the overarching
The Oil’s On Fire
The oil’s on fire. Again. Dozens of Saudis, including women and children, were injured Tuesday
Yen As Flashpoint
“When the facts change.” Over and over again since Scott Bessent stepped in to help
September Is Cruelest Month For Stocks. And Bonds
Technically, we’re already several trading sessions into September, but the month doesn’t really “start” for
Bargain Bonds, Bubble Stocks?
Long-end US Treasurys: They’re either a screaming bargain or an uninvestable falling knife. We’ll find
Warsh Hangs His Hat On Friday’s Inflation Report
High drama! Late last week, Donald Trump warned Kevin Warsh not to raise rates at
Weekly: Are US Treasurys Becoming Uninvestable?
It’s always darkest before the dawn, as the old saying goes, but I’ll becha you
Trump Gives Warsh Rate-Cut Ultimatum
Dear Kevin: I’d say I feel bad for you, but I don’t. Not even a
To Be Happy
I / The car “It’s blue,” he said, matter-of-factly but with a tinge of
Barnburner US Jobs Report Recasts Narrative
It’s a barnburner! The US economy added 162,000 jobs on net last month, the BLS
Carry Off!
The Bank of Japan got the message. Then they conveyed it to markets. Scott Bessent’s
Waller, Lennon Send Hawks Packing
Chris Waller to the rescue. We’ve seen that before. We’ve also seen the opposite. So
More Noise Than Signal
The world’s largest economy added exactly 36,517 jobs on net last month. That’s according to
AI Replacement Theme Abates As Job Cuts Subdued
Much as it pains me to be the bearer of good news, job cuts were
Emperor Bessent?
If you looked at a chart of USDJPY on Wednesday — and who didn’t, amirite?!
Singing The Bond Blues
It’s all about growth. The bond selloff, I mean. That’s according to NY Fed chief
Payrolls Shrink At American Factories, AI-Vulnerable Service Firms
Womp, womp. Private hiring in the US was lackluster in August, Wednesday’s update from ADP
Buy The Fed Hike?
I’m not buying the Fed hike, figuratively speaking. As Donald Trump reminded Kevin Warsh early
Things Are Getting Interesting Again…
Things are starting to get interesting again. On Tuesday, Eurostat said headline inflation ran 3.3%
Somebody Help The Bonds!
Cue Navin: “They hate these bonds! Stay away from the bonds!” G7 yields moved higher
If You Need A Job, Somebody Has One For You
“Get a job,” sneered Generation Jones, to the estimated 25 million adult children living with
‘Annoying’ Economy, Rampant Inflation Weigh On Factory Recovery
America’s “golden age” manufacturing renaissance lost some of its luster in August, even as the
Minting Money
Corporate profits. They’re booming in America, on the off chance you didn’t notice. And no,
Long Bond Threatens Breach Of ‘All-Important’ Threshold
Trivia time! That’s what it often comes to during the final days of August, when
Who Wants To Loan The Saudis More Money?
If you’re curious as to whether upside to energy prices from the war is sufficient
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