When is a silver bullet not a silver bullet? That’s a question market participants need to start asking themselves vis-à-vis vaccine assumptions. On Wednesday afternoon,
Month: September 2020
Cast Members
Wherever they end up, negotiations around another virus relief package in the US haven’t gone anywhere in nearly two months. This is a “don’t let
Strong ADP Report Bodes Well For September Payrolls As Stimulus Talks Continue
US firms added 749,000 jobs in September, ADP said Wednesday. That was more than the 649,000 the market was looking for. During normal times, this
Who Is Donald Trump? Even He May Not Know Anymore
Headlines for stories documenting the first presidential debate read like lamentations for a country that’s lost its way. The spectacle Americans were subjected to on
Markets Grapple With Debate Debacle, EU Tariff Threat, China Antitrust Probe Into Google
“If the US presidential debate had, in election night fashion, flashed up a picture of the smiling candidate who was seen as having won, it
Chicago PMI Was So Good It Decided To Come Out Early
The Chicago PMI is supposed to come out at 9:45 AM ET, but on Wednesday, it appeared at 8:20 instead, with no explanation that I
Wallace, Biden Entered Trump’s Event Horizon. They Didn’t Make It Out
In the hours ahead of the first presidential debate on Tuesday evening in the US, Joe Biden released his tax returns in a bid to
China PMIs Beat, Ostensibly Bolstering Recovery Case
China’s economic recovery remained largely on track in September, PMI data out Wednesday suggested. The official manufacturing gauge printed 51.5 for the month, ahead of
Ambiguous Ambiguity
When it comes to US equities and a prospective Joe Biden administration, the debate has always centered around the trade off between predictability and a
‘For Some Reason’ America’s Government ‘Just Can’t Get It Done’
The daily rate of positive coronavirus tests hit 3.25% in New York City, Bill de Blasio said Tuesday. That’s the highest since June. The city,
Nomura’s McElligott On ‘Doomsday Prepping’ And The Underpriced ‘Risk’ Of No Chaos
Assuming no black swans come splashing down in the macro lake, equities may be somewhat insulated from dramatic swings in the weeks leading up to
Europe Risks ‘Deflationary Spiral’ As German Data Raises Alarm
If Christine Lagarde and the ECB were already fretting about deflation risks in the months ahead, they’re likely a bit more concerned Tuesday, with the
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Markets shifted into a kind of nervous neutral Tuesday as risk appetite waned following Monday’s rousing start to a busy week. Equities were muted or
One Pro’s ‘Machiavellian’ Trump-Mnuchin Theory To ‘Prove Bears Wrong’
[Editor’s note: As many readers are likely aware, fan-favorite Kevin Muir — formerly head of equity derivatives at RBC Dominion and better known for his
Much More Money
“Much more”. That’s a rough estimate of what Nancy Pelosi needs to hear from Steve Mnuchin if The White House really wants to strike a
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