Despite (and often because of), my overtly pessimistic take on the plight of humanity, I find occasion to laugh more often than I probably should
Month: June 2021
The Economic Question Of Our Time
Have we entered a “high inflation regime”? At this point, asking that question feels like Bill Murray’s Phil Connors finally losing his patience while reading
As ‘K-Shaped’ Inflation Fears Worsen, $650 Billion Says It’s Transitory
You may not be buying the Fed’s “transitory” characterization of inflation, but nearly three quarters of investors polled for the June vintage of BofA’s closely
A Depressing Conjuncture That Will Change No Minds
In what may well be further evidence to support the view that the US economy is already cooling, retail sales for May missed estimates by
Counting Days While Waiting On Nothing
Traders were “unruffled” Tuesday, ahead of the Fed and key data. That was Bloomberg’s adjective. This is the time of year when journalists have very
One Bank Asks: ‘What Bubble?’
What’s the definition of a “bubble” in the market context? That’s a question I’ve explored at some length in these pages over the years. At
Paul Tudor Jones And The Celebrity Fixation
Do you ever wonder why we (as a society) care about celebrity endorsements? In a lot of cases, there’s absolutely no connection between the celebrity
Topic Du Jour
Headed into the June Fed meeting, analysts and strategists were keen to dissect last week’s “counterintuitive” action in rates which, on the face of it
A Dangerous Plan Is Better Than No Plan
Geopolitics continued to monopolize headlines Monday as Joe Biden’s “America’s back” world tour rolled on and journalists on the Israeli politics beat penned lengthy essays
A Few Words On The Quixotic Quest To ‘Counter’ China’s Rise
“I proposed that we have a democratic alternative to the Belt and Road initiative, to build back better,” Joe Biden said, combining a jab at
An Important Non-Event
Outside of the geopolitical realm, the June Fed meeting will get top billing this week, although it’ll almost surely be a non-event. Or at least
It’s Time The US Gave Putin A Financial Ultimatum
Joe Biden’s one-on-one with Vladimir Putin in Geneva is the marquee event in the new week. In a rare display of competency (and common sense)
Bitcoin And Donald Trump Have A Lot In Common
Time and again over the years, I’ve argued that the volatility associated with Bitcoin makes it an untenable investment for portfolio managers. That was before
Stars May Be Out Of Alignment For Market’s Favorite Trade
Hopefully, you don’t find yourself in the unenviable position of being forced to say, definitively, whether the reflation trade has run its course in the
Summers, Druckenmiller And Two People I’ve Never Heard Of
I suggested Friday that “incredulous” was probably too strong a word for how market participants feel about the ostensibly counterintuitive action in rates. Incredulity often
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