What One Popular Strategist Sees For 2023
I’ve said it before, and there’s no telling how many more times I’ll say it before year-end: 2023 will almost surely be kinder to investors
Payback And Back Pay
Big tech isn’t the US economy, folks. A few ostensible “experts” seemed surprised Friday by a robust update on US hiring and wages in the
Jobs Report Is (Very) Bad News For Fed
The US economy added more jobs than economists anticipated in November and wage growth rose at twice the expected rate, crucial data out Friday showed.
Macro Riddle Has Just One Solution
The recent rally in equities in part reflects the market front-running an eventual negative payrolls print. That’s according to BofA’s Michael Hartnett. He wasn’t, of
This May Be Fed’s ‘Final Phase Shift’
On Thursday, in “Powell Didn’t Try To Kill The Rally. And That’s Notable,” I contextualized Jerome Powell’s closely-watched remarks at the Brookings Institution by the
Powell Didn’t Try To Kill The Rally. And That’s Notable
There wasn’t much America’s beleaguered technocrat in chief could’ve said differently this week to short circuit the rebound on Wall Street. And maybe he wasn’t
Good. Bad. What’s The Difference?
Bad news. Good news. What’s the difference these days? It’s hard to say in an environment when evidence of economic resilience is the surest way
Same Picture, Different Data
The BEA handed markets a generally cooperative set of data on Thursday, one session on from a rousing rally triggered by a dovish interpretation of
Beloved Comrades
There’s a raging bull market in news out of China. Every day brings a new twist in an increasingly lively tale of political intrigue and
Why The Fed May Have To Relent, According To Marko Kolanovic
“Until late summer, we thought corporate and consumer resilience [would] be able to withstand the significant increase of interest rates, wealth destruction and global geopolitical
Powell Delivers 2,400-Word FOMC Statement
Jerome Powell was pretty specific on a number of key points in prepared remarks for an event hosted by the Brookings Institution on Wednesday. Whether
In Housing: ‘Difficult Months’
News sections on real estate websites read like obituaries these days. Not so long ago, they were collections of party invites. Buoyant home prices in
‘Normal’ Still Elusive In US Labor Market
Good news: There are less available jobs in the world’s largest economy. That doesn’t sound like a positive development, but in the current conjuncture, defined
Manufacturing Payrolls Plunge As Private Sector Hiring Decelerates
US private sector employers added fewer jobs than anticipated in November. At 127,000, the headline ADP print fell well short of consensus. Economists expected 200,000.
In Europe, A Sight For Sore, Irrelevant Eyes
Rejoice! The rate of annual price growth in Europe decelerated this month by the most in more than two years. That’s the good news. The
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