For the better part of two months, Nomura’s Charlie McElligott has been keen to press
Month: November 2020
Transition Lenses
Markets were pleased Tuesday as some of the lingering uncertainty around the US election lifted
Welcome Back
The holiday-shortened week began in predictable fashion, with equities climbing the proverbial “wall of worry”
Rebalancing May See $300 Billion Out Of Stocks By Year-End: JPMorgan
It’s time to have the rebalancing discussion again. Or at least if you’re a JPMorgan
‘Quite Literally At A Price’: Inflation Comes Roaring To Life In US PMIs
While you can expect high frequency indicators to start reflecting the various lockdown protocols instituted
Morgan’s Mike Wilson: ‘I’m A Steadfast Bull’
Morgan Stanley’s Mike Wilson, known to some as the man who predicted the Q4 2018
Europe Heads For Double-Dip Downturn As Western World Succumbs
Surprise! The European economy looks poised to log another contraction, fresh off Q3’s rebound from
Who’s Looking Forward To ‘Normal’?
More encouraging vaccine headlines looked to bolster risk sentiment in the new week as the
Weary & Wary
Market participants headed into the holiday-shortened week weary of increasingly absurd political theatrics and wary
The Wound That Never Heals: Lacan Meets Trump
[Read more from NOTES FROM DISGRACELAND and follow on Twitter] 22. XI 2020 There is
Reports Of 60/40’s Demise Were Greatly Exaggerated (Laphroaig Bottle)
Predicting the demise of 60/40 has been a fool’s errand. To be sure, it’s not
Why Portfolio Managers And Executives Think Goldman’s 2021 S&P Forecast Is Too High
When Goldman asked domestic and international portfolio managers, hedge funds, sovereign wealth funds, and corporate
Dom Pérignon Democracy
Michigan’s Republican leadership said most of the right things on Friday evening, after emerging from
Stocks Are Really Enjoying Themselves In November
Pullbacks in equities will be “absorbed.” That’s what someone from JPMorgan Asset Management told Bloomberg
‘Simple Truths’: Slowly, But Surely, Trump Loses Fight With Democracy
It won’t be for lack of trying. That’s how history will describe Donald Trump’s efforts
‘It’s A Joke’
Never a dull moment. Markets were subjected to more unnecessary drama on Friday, as investors,
The $17 Trillion Reason Not To Panic About Corporate Bonds
You might be inclined to think market participants are suddenly nervous about the outlook for
Uber-Goldilocks
I guess we need to add a new term to the lexicon: “Uber Goldilocks.” You
‘Setting Biden Up For Disaster’: Steve Mnuchin Faces Allegations Of Sabotage
Steve Mnuchin came under what it’s fair to describe as intense scrutiny on Friday, after
Amid ‘Odd’ Treasury-Fed Spat, Correction Window Opens Ahead Of Assumed Year-End Melt-Up
Prepare for a possible “unclenching.” That’s one message from Nomura’s Charlie McElligott, who, in a
Authorizations During Emergencies
Pfizer and BioNTech will submit an emergency use authorization request for their jointly-developed COVID-19 vaccine
Hugo Chavez Returns, Trump Goes There, And Steve Mnuchin Wants His Money Back
I hoped it wouldn’t come to this, but I can’t say I’m surprised. On Friday,
Non Sequiturs & Nonsense
I suppose I was wrong to say, on Thursday morning, that “analysts and economists are
King Dollar Relinquishes Global Payments Crown. But Save Your ‘Demise’ Narratives
Those who love a good “dethroning King Dollar” story will be excited to know that
Don’t Worry: The Housing Bubble Is Alive And Well
At least the housing bubble is intact. Existing home sales defied expectations for a decline,
Jobless Claims Unexpectedly Rise, Adding To Economic Consternation
742,000 Americans filed for unemployment claims last week, more than the market expected. It’s an
