Jerome Powell is a victim of circumstance, a golfer who “can’t putt,” a professional fall guy, a “dangerous man” and any number of other things,
Year: 2022
2022 Rivals 2008 For Suddenly Wild Bond Market
“Keep those seatbelts fastened,” TD’s Priya Misra said, in a note documenting this year’s fireworks in US Treasurys. Over the past several weeks, market participants
‘All That Matters’
A raft of data and a dash of Fedspeak should help traders refine the macro narrative in the week ahead. Rates caught between increasingly shrill
Crash
Some of the best films are structured such that audiences are compelled to consider the same story from different angles. That’s often achieved via a
The Stark Reality Of Modern Stock Market Rallies
If you’re concerned that households, by far the largest owners of the US equity market by cohort, might sell their stocks, driving additional downside for
Fed Up
Jim Bullard wants to “nip inflation in the bud before it gets entrenched in the economy.” A good start would’ve been ending QE around this
America Has An Existential Credibility Problem
The Supreme Court overturned Roe v. Wade on Friday, exacerbating a national firestorm and deepening what I think it’s fair to call an existential societal
Kolanovic Says Stocks May Soar 7% Next Week
Could rebalancing flows help US stocks log their largest weekly gain since November of 2020? Maybe, according to JPMorgan’s Marko Kolanovic, who, on Friday, noted
New Home Sales Jump As Average Prices Drop Third Most Ever
Reports of the housing bubble’s demise were greatly exaggerated. Or at least that’s what a simplistic reading of new home sales data, out Friday, suggested.
Hard Landing Panic Has Markets Rethinking Central Bank Bets
Central banks have succeeded. In engineering a recession scare. Rate hike bets were trimmed again on Friday, at the end of a week that found
150 Years Of History Says S&P Falls Another 15%. At Least
It’ll seem obvious in hindsight, as all things do. If the post-pandemic rally in equities ends up a smoldering ash heap, we’ll chuckle incredulously at
Cash!
On one measure, real money investors’ allocation to cash is the highest in more than a decade, and now exceeds the pre-Lehman average. Some regular
US Economy Witnessing ‘Remarkable’ Drop In Demand
The US economy is downshifting in real time. On the heels of similarly underwhelming anecdotal data out of Europe, flash PMIs for the US came
2022 Is Worst Year For US Bonds Since George Washington
The first five months of 2022 were cruel for bonds. That much you probably know. What you may not be apprised of, though, is the
ECB Nightmare: Europe Sees ‘Most Abrupt’ Slowdown Since 2008
The ECB is in a real bind. European economic activity decelerated markedly in June, PMIs out Thursday showed. With policymakers poised to ratchet rates higher