Saudi Arabia’s Deadly Day May Pull Trump Into Yemen War
The Houthis are inviting a US military intervention in Yemen. On Saturday, at least a
Who’s Afraid Of The Big, Bad Unknown?
One of my least favorite charts was back in the news this week. Plotting any
Closed Committee
Back in June, I went out of my way to emphasize that the Supreme Court’s
Trump Breaks His Own Macro Misery Record
In this week’s macro preview, I wrote that the only question around the preliminary read
Weekly: Are Stocks Really Whistling Past The Graveyard?
Yes, the S&P managed to post a new record close (the first since August 13
Maricarmen, Le Pen And The Great Fiscal Reckoning
María del Carmen Abascal, the disabled 87-year-old who became the face of Spain’s housing affordability
Bombs, Brent And Breakevens
“A whole civilization will die tonight.” Or maybe tomorrow night. Sometime before the midterms. Maybe
US Jobless Claims Set To Make History. Again.
Anybody care about US jobless claims? Not really? Well, I can’t blame you. The release
Halle-freakin’-lujah
It goes like this, the fourth, the fifth The minor fall, the major lift… Hallelujah.
All That Glitters
The war-driven surge in fuel costs and a generalized sense that “stuff’s getting more expensive
House Fire
“Harry, I know you’re pissed. We had a setback.” “Listen, Scott, I am in a
SpaceX The Hyper-Scaler
SpaceX is gonna need to borrow some more money. Several tens of billions more, reportedly.
À La Janet?
Are you worried about the inexorable rise in US bond yields? Because Scott Bessent is.
AI And Oil: America’s Historic Profit Bonanza Rolls On
You know things are going well when corporate America’s expected to report profit growth of
Maybe Trump Can Starve Iran Out After All
Ask five different experts whether Donald Trump can starve out the IRGC and you’ll get
Burn, Baby, Burn
Europe’s ungovernable. Breaking news, I know. On Monday, an already fraught political environment took a
Back Right?
There’s about to be a Bolsonaro living in The Palácio da Alvorada again. Headed into
$5,000 Or Bust
The macro data docket’s pretty light this week, which is fine by me notwithstanding I
Weekly: The ‘Humiliation’ Trade
I’d like to buy long-end US Treasurys right now. And I did, both this week
What If The Fed Can’t Slow The Economy?
If you’re old enough to remember the last Fed tightening cycle (there’s a joke there,
Railroaded
In terms of concentration risk, the AI trade’s now on par with the largest bubbles
US Jobs Report: Womp, Womp
“Come on, come on, big bucks, no whammies, no whammies!” Drumroll…… 29,000. That’s the NFP
Bonds At The Breaking Point
Have we given up trying to call the top in G7 bond yields? Because if
The Only Certainty Is Chaos
It’d be too strong to say investors were “on tenterhooks” ahead of Thursday’s update on
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