Totally Inexcusable, Wholly Predictable
“Let me be clear: Things are going to get worse before they get better,” Joe Biden said Thursday afternoon, in the course of outlining a
Bitcoin (Allegedly) Suffers Glitch In The Matrix
Earlier this month, Bitcoin collapsed by more than 20% in the space of 48 hours, underscoring (again) that it’s not a reliable store of value.
The Houses Are Fine (Flaming Marshmallow)
It wasn’t all bad news on the economic front in the US Thursday although, as noted somewhat abrasively here, the idea that 900,000 initial jobless
Here’s An Idea: Put People To Work & Print Money To Pay Them
900,000 Americans filed for unemployment benefits last week. Believe it or not, that was actually a beat versus consensus, which was looking for 935,000. You’ll
ECB Confronts ‘Revelation’ Of Spread Targeting ‘Policy’ Amid Pandemic Response
The ECB came into its first meeting of 2021 under the shadow of renewed lockdowns across Europe’s largest economies. An aggressive second (or is this
The Narrative
Global stocks hit new highs and the dollar dropped a fourth day as investors leaned into the narrative. Joe Biden’s first full day in office
After Biden, Let Her Run
Joe Biden’s inauguration came and went without incident. In a sad testament to the surreal times in which we live, that counted as a “win”
Great Expectations
Joe Biden assumes the presidency with a daunting task vis-à-vis markets or, perhaps vis-à-vis markets’ expectations is a better way to put it. US equities
Stocks’ ‘Surrogate Buy Flow’ Could Reach $96 Billion, Nomura’s McElligott Says
US equities are getting a helping hand from a familiar place. “Systematic Vol Control is a big deal right now, acting as a surrogate buy
Morgan Stanley Had A ‘Very Strong,’ ‘Excellent’ Year. How About You?
Morgan Stanley starts 2021 with “significant momentum,” James Gorman said Wednesday, as the bank released Q4 earnings that came in ahead of expectations. “I’m very
Regime Change
Upon taking office Wednesday, Joe Biden moved to immediately reverse, undo, and otherwise rollback some of Donald Trump’s more controversial policies and initiatives. The new
Tragedy, Triumph, And ‘Patriots’
It’s appropriate, in a macabre kind of way, that news of Netflix passing the 200 million subscriber milestone came on a day when the US
‘Act Big’ (Tequila In The Blender)
Janet Yellen had no trouble with her confirmation hearing on Capitol Hill Tuesday. I imagine once you’ve shouldered the burden of the entire global financial
‘Correction Imminent’: BofA Survey Suggests Sentiment Overshoot
All in, apparently. 73% of investors who answered the “early-cycle” versus “recession” question in the latest edition of BofA’s Global Fund Manager survey said the
Here’s The Reality Of ‘Bubbles’
Ask European fund managers what keeps them up at night and you might hear: “A bubble on Wall Street.” That’s according to the January vintage
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