One of the myriad confounding factors in what’s been variously billed as the “Great Inflation
Month: July 2021
Revisiting The Social Contract In The Age Of Delta
Editor’s note: The following short article was originally published May 27, 2020, on Identity Element.
Lyin’ Eyes And Taper Tremors
Goldman’s clients are asking how the onset of a Fed taper will affect equity markets.
Maybe We’re Worried About The Wrong Tail Risk
Jim Bullard said Friday that the spread of the Delta variant is likely to be
Like There’s No Tomorrow
“Global interest rates [are] at 5,000 year lows,” BofA’s Michael Hartnett observed, again, in the
Off The Boil?
It’s like that last peanut butter cookie from the batch you made 10 days ago
In China, The Onslaught Continues
“Even more complicated and grim.” That’s how the Politburo characterized the external environment at a
If The Asteroid Ever Comes
“US stocks rise after GDP reinforces Powell’s dovish stance,” one headline read, on Thursday afternoon.
McElligott On The Fed, Bonds And Fall ‘Timing Turn’
Market participants may soon brave another “bearish shot” at bonds, which could translate to rekindled
‘Hot’ US Economy Underwhelms Despite Spending Spree
The US economy expanded at a 6.5% annual clip in the second quarter, the government
Choose Your Own Narrative, Jobless Claims Edition
400,000 Americans filed for unemployment benefits last week, more than expected. It was the second
V-Bottom Mania
As it turned out, Chinese state media were correct to predict equities would rebound “quickly”
Powell: Virus ‘Loose Out There. No One Is Safe’
The July 2021 edition of Jerome Powell’s post-FOMC press conference series produced no shortage of
Fed Shuffles Words Around. Flags ‘Progress’ In QE Language
This is a good time to remind everyone that we needn’t suffer through a press
‘Hi, It’s China. We Understand You’re Terrified.’
Following a characteristically silly domestic media blitz aimed at calming frayed investor nerves, Beijing dialed
Remain Calm: China’s Falling Knives
Some of the headlines in Chinese media were amusing Wednesday. In the wake of a
It’s Time To Arrest The Spread Of Vaccine Misinformation
“Who was that masked man?” It’s everybody! Again. Well, not everybody. But if you live
Spare Change, Big Numbers
There’s $4.49 trillion in dry power sitting mostly idle in money market funds. That pile
‘Out Of Superlatives’: US Housing Exhausts Thesaurus
I’ll express my gratitude to Craig Lazzara, global head of index investment strategy at S&P
Emerging Problems And Party Prerogatives
I generally avoid quoting (let alone making) statements like I’m about to make, but an
Consumers’ Revenge
US consumers are concerned about inflation. We know that. It’s well documented. The question going
In China: Liquidation
Worries that foreign capital will run screaming for the exits (if it hasn’t already) were
Wordz And Multiplez
Sometimes I wonder if readers ever marvel at the sheer number of different avenues I
Xi Doesn’t Want Your Money
It said a lot about the evolution of the global economy and capital markets when
Is The US Housing Bubble Bursting?
The foundation is cracking. That’s a housing pun. And it’s kinda good, but not great.
Harley Bassman’s Open Letter To The Fed (With A Preamble From Me)
[Editor’s note: Below find, as attributed, an open letter to the Fed by Harley Bassman.
Beijing Teaches ‘Mr. Market’ A Lesson. But You Folks Will Never Learn
Earlier this month, when Beijing set up a veto mechanism for overseas IPOs amid a
