The Chips Are Down Again
Remember CXMT? If not, don’t worry: I didn’t either. I had to use my own
They Want 6%, Scott
6%. On 10s. That’s what it’s gonna take to tempt professional capital allocators to rotate
Can I Interest You In This Fine $400K Wooden Box?
After three straight months of declines, and despite a steep increase in financing costs, the
Meanwhile, At Goldman: More, More, More
To say Goldman’s stock traders have had a good 2026 would be an understatement, and
JPMorgan Results Are Decent Enough
The House of Dimon reported earnings that missed estimates on Tuesday. That’s not something you
Old, Rich, White People
Getting old generally sucks. I don’t think that point’s debatable. Sure, any one person’s lived
Still Cashing In
There’s a lot of cash on the proverbial sidelines. Still. There’s still a lot of
Imaginary Ceasefire
Over the weekend, Donald Trump declared an “energy ceasefire” in the Russia-Ukraine war. The moratorium
Balloon Animals
Recent Fedspeak, where that means heavyweights John Williams and Philip Jefferson leveraging public speaking engagements
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
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