Latest Posts
Harley Bassman Presents: ‘The Wages of Fear’
In the same way that one “borrows beer” at a party, having the Treasury wash their issuance through Wall StreetContinue Reading
Comically Offensive
A convoluted, mishmash of headlines bombarded anyone who was paying attention on Wednesday, as key lawmakers in Washington inched towardsContinue Reading
‘It’s A F**king Joke’: Capitol Hill Grapples With Trump’s Latest Veto Threat
Donald Trump said something egregious on Tuesday evening. In itself, that certainly isn’t “news,” especially not in what’s passing forContinue Reading
Just Ignore This Big ADP Miss, And Don’t Even Bother With The Internals, Ok?
In what’s either a bad omen or nothing to be particularly concerned about given ADP’s poor pandemic-era track record vis-à-visContinue Reading
Sell The Best News In Modern History?
There was some market chatter on Wednesday around the notion that vaccine approval and distribution will be a “sell theContinue Reading
It’s Urgent
“It’s essential that we move with urgency — inaction will produce a self-reinforcing downturn causing yet more devastation,” Janet YellenContinue Reading
A Bridge (To Nowhere?)
Speaking to Congress on Tuesday, Jerome Powell said it’s “premature” to pull back on support for the US economy. HeContinue Reading
Cookin’ With Grease And Pushin’ On A String: Nomura’s McElligott On 2021 Outlook
On Monday, while documenting what I generically described as “a month to remember” (usually I try to be a littleContinue Reading
‘Let’s Hope’: The OECD’s Latest Outlook And The Absurdity Of The Austrian ‘Reset’
Six months after declaring COVID-19 “a global health crisis without precedent in living memory” and bemoaning the “enormous damage toContinue Reading
Manufacturing Employment Index Back Below 50 As ISM Decelerates From Peak
ISM manufacturing, the first of this week’s top-tier data out of the US, was a miss. At 57.5, November’s printContinue Reading
For All The Hyperinflation Talk, There Sure Is A Lot Of Deflation Going Around
At a time when too many market participants are seemingly terrified of hyperinflation (or at least if you attribute partContinue Reading
Recoveries And Trust Issues
Global equities were buoyant to start the final month of 2020, rebounding from an uninspired final session to an otherwiseContinue Reading
Great Challenges, Big Dreams
A month chock-full of fireworks and milestones closed on a somewhat muted note, as equities came off records despite moreContinue Reading
A Month To Remember
November 2020 will go down in the history books for a variety of reasons. First, this was the month whenContinue Reading
You Can Add Record-Low Investment Grade Corporate Bond Yields To November’s Milestones
November scarcely needed another market milestone, having offered up a veritable cornucopia already, but I’ll toss another one out thereContinue Reading
