Feel The Burns
Soon enough, Donald Trump will announce Jerome Powell’s successor. That person — probably Kevin Hassett
‘Relatively Dismal’: Another Month, Another Record Mood Low
Could’ve been worse? That’s a question. I’m not sure of the answer. The preliminary read
The BEA’s Open!
The BEA’s open. Hooray! After a lengthy blackout brought on by the longest US government
The 2020s In One Chart
You’ve heard it again and again. More times, probably, than you care to by now:
JPMorgan Sees Path To S&P 8,000 On ‘FOBO’
Were you curious as to what America’s largest bank expects for US equities in 2026?
Melting Jobs Market Mocks Trump’s ‘Golden Age’ Narrative
How seriously should we take alternative measures of the world’s most important macro readout? That
Holiday-Impacted Claims Plunge Is Meaningless
Mind the holiday distortion. I’ll say it again: Mind the holiday distortion. I’m not necessarily
Hiring Plans Lowest in 15 Years As Christmas Hires Plunge
Last month, one unfortunate soul with tens of thousands of social media followers took it
2025 Becomes Fifth Worst Year Ever For US Job Cuts
For just the third time since 2008, US firms announced more than 70,000 job cuts
Hassett Has It?
Bad news is good news. You know how it goes. The US labor market’s plainly
Green Shoots? US Home Purchase Apps Hit 33-Month High
Don’t look now, but a key measure of purchase activity in the still-beset US housing
Small Businesses Turn On GOP With 120,000 Mass Layoff
A year ago, Donald Trump’s presidential second coming triggered the largest increase on the marquee
Stagflation Mercifully Eases Across Vast US Services Sector
When all else fails — as it appears to be currently — you can always
Trump Loses The Labor Market
Donald Trump just lost it. The US labor market, I mean. Sure, you could argue
Behold: Rent Deflation
Good news for America’s renters. That’s something I don’t say very often. Maybe I shouldn’t
How The AI Trade ‘Breaks’
Investors are “buying the dream.” That’s the message from BofA’s Savita Subramanian headed into 2026,
Sam Altman’s ‘Code Red’
It’s tough being Sam Altman since November 18. That’s the day Google launched Gemini 3.
Congress Needs To Stop The Drug Boat Bombings
Obviously, the US government shouldn’t be involved in the commission of war crimes. Alas, the
Google AI Coup Presages Clash Of The Titans
I spent an enormous (but not inordinate) amount of time last month editorializing around what
New OpenAI, Nvidia Deals Fan Bubble Banter
One of the most talked about phenomena across markets over the past three months is
American Manufacturing’s ‘Forever Recession’ Rolls On
Another month, another lackluster read on the US manufacturing sector which, according to Donald Trump,
BoJ Wobbles Risk Sentiment With Rate Hike Nod
Market documentarians were back to peddling the BoJ “structural shift” narrative on Monday in the
Bookkeepers
Book of Genesis Big Tom was a gangster. We didn’t know that. Being 11,
Business As (Un)usual
It’s jobs week in the US. Sort of. In the normal course of business, the
Weekly: Scott Bessent Was Lucky
In prepared remarks for this year’s Treausury Market Conference (it’s an annual event co-hosted by
Goodbye November, Hello December
November was supposed to be a decent month for US equities. It wasn’t. However Friday’s
‘Just Forget It’: US Home Sellers Are Giving Up
You know what? Forget it. That’s what scores of American home sellers said in September,
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