Risk sentiment was clearly impaired by pandemic concerns to kick off the new week, raising
Month: July 2021
Define ‘Freedom’
A smattering of headlines lamenting the many ironies of the UK’s “Freedom Day” was a
‘Self-Defeating’ Rate Hikes Could Endanger ‘Agnostic’ Stocks
There’s no longer any point in using words like “disconnected” to describe the relationship between
Bonds And Our Never-Ending Global Health Crisis
Market participants inundated with data and ostensibly meaningful policy banter will get a bit of
Conniving Oracles
We really should stop attributing self-awareness and a sense of purpose to the bond market.
Why Nobody Will Tell You The Truth
Often, by the end of a given week, I’m exhausted with pretensions to concern about
Amid Frantic Dealmaking, Political Storm Clouds Gather
Let’s make a deal. Lots of them. 2021’s first half witnessed the highest volume of
The Bull Case Is Ambiguity
“The bull case is ambiguity,” one popular strategist said this week. I like that characterization
If You Have The Means
Consumer sentiment deteriorated in July, the preliminary read on the University of Michigan’s survey suggested, underscoring
American Shoppers And Free Money For Families
US retail sales were considerably more robust than expected in June, data out Friday showed.
Warning: Hong Kong Is Kinda Dangerous Now
Cold War 2.0 was the narrative du jour on Friday. As tipped several days previous,
For Wall Street, It’s Always ‘Another Strong Quarter’
With big bank earnings on the books, we can draw at least one conclusion: Dealmaking
A Question Of Horizons (Or Something)
“We don’t want to jar markets or anything,” Jim Bullard told Bloomberg’s Michael McKee on
Everything That’s Knowable
360,000 Americans filed for unemployment benefits last week, slightly more than expected. The prior week
‘Maximum Crisis Level’
One of this week’s media narratives revolved around the juxtaposition between a still-dovish Fed and
As Questions Mount, Chinese Economy Holds Up
On the heels of an abrupt dovish policy pivot, the outlook for the Chinese economy
Paying For It
$3.5 trillion is “a lot of money,” Democrat Jon Tester ventured. That was one gem
Wrong And Calm Or Right And Scared?
Jerome Powell said what he needed to say Wednesday in prepared remarks for his semi-annual
‘Scorching’ Is The Adjective Du Jour
I suppose it would’ve been something of a “letdown” if PPI had posted a downside
Bank Of America Delivers A Bunch Of Indecipherable Numbers
Bank of America reported what looked to be an underwhelming set of numbers for Q2
$3.5 Trillion To ‘Make Average People’s Lives Better’
It’s not a blank check, but it’s a start. Senate Democrats took a significant step
The Cyclical Boom Has Peaked, Says $800 Billion In AUM
Fund managers are demonstrably less enthusiastic about reflation and growth, suggesting the macro narrative that
Gatorade Break
It’s fairly obvious by now that market participants doubt seriously the idea that the Fed
US Inflation Surges Again, Dealing Fresh Blow To ‘Transitory’
Inflation surged far more than expected in the world’s largest economy last month, hotly-anticipated data
Goldman Counters Trading Lull With Dealmaking, Investment Gains
Trading revenue at Goldman trailed estimates in the second quarter, the bank said Tuesday. FICC
JPMorgan Results Mixed. Dimon Prefers ‘Solid’
JPMorgan kicked off big bank earnings with (surprise!) a beat. Adjusted revenue of $31.4 billion
All Roads Lead To China
Concerns are proliferating about the trajectory of China’s economic rebound, but that’s apparently a story
