The stock market isn’t the economy. We say that all the time. It’s almost a cliché. And, in many respects, it’s true. Stocks are overwhelmingly
Month: January 2022
Curtin’s Warning: Americans May ‘Misinterpret’ Fed Hikes
There was no improvement in US consumer sentiment during the back half of January. In fact, sentiment deteriorated further. That was the overarching message from
Stagflation Spotted In Crucial US Comp, Spending Data
Compensation costs for US workers rose less than expected in Q4, closely-watched data out Friday showed. Markets were on edge for the latest read on
Germany Stares At Recession As Economy Contracts
An image of “traffic at a street junction in Berlin” sat atop one outlet’s summary of Germany’s Q4 GDP data, released on Friday. The intersection
‘Initial Volatility’ Has Governments Nervous In Asia
A few key Asian markets managed to rebound on Friday after falling into corrections and bear markets this week, but the sense of angst remained
If Stocks Don’t Get Him, The Curve Might
Thursday’s overarching narrative was that this time around, Jerome Powell isn’t going to bend the proverbial knee to equities. The emphasis on “this time” is,
‘Bring Back Volcker’
I doubt seriously that prominent investors actually care about inflation vis-à-vis Fed policy. And why should they? Investors tend to be well-off. Prominent investors are
Is The US Headed For A ‘Transitory’ Recession?
Mercifully, US jobless claims retreated in the week to January 22, snapping a streak of increases that suggested labor market momentum might be waning at
US Economy Outperforms, Validating Hawkish Fed
The US economic expansion picked up in the fourth quarter, data out Thursday showed. The 6.9% rate represented a pronounced acceleration from the prior quarter’s
Panic Selling Grips Asia As Stocks, Bonds Plunge On Hawkish Powell
Jerome Powell’s press conference performance, and particularly the Chair’s multiple references to this cycle being “different,” kneecapped Asian markets on Thursday. Regional shares came under
Humble Stumbles
Jerome Powell on Wednesday emphasized that the Fed will be “humble” and “nimble” as it attempts to normalize monetary policy in 2022. The Committee, he
Fed Nods To March Hike, Sketches QT With Runoff ‘Principles’
Inflation in the world’s largest economy is still “elevated,” the January FOMC statement said. That’s due in part to “supply and demand imbalances related to
Dovish Hawks Or Hawkish Doves? McElligott On The Fed
Plainly, Jerome Powell risked further destabilizing fragile US equities at the January FOMC press conference. Stocks wanted a “wink,” and while markets understood that Powell’s
Key Ratio Points To 15% S&P Upside, One Bank Says
January’s stock swoon isn’t out of sync with fundamentals and played out largely as expected considering the tightening impulse in financial conditions, signs of slowing
Goldman: Any Further Significant Weakness Is A Buying Opportunity
Markets were choppy again Wednesday as January’s epic swings continued unabated. Needless to say, traders were looking to the Fed for answers after weeks of
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