There was a “clear change of heart” among G10 central bankers late last month, TD’s James Rossiter said, while documenting an epochal policy pivot which,
Month: June 2022
Between The Lines
Longer-term inflation expectations are rising, and the Fed can’t afford to be complacent about it. That’s according to Loretta Mester who told CNBC that policymakers’
Pollyannas Vs Chicken Littles: The Great American Profit Debate
Are company analysts Pollyannas or are macro-minded strategists Chicken Littles? That’s becoming one the most vociferous debates in market circles ahead of second quarter earnings
Under The Shadow Of Stagflation
America is experiencing an acute crisis of confidence. As discussed here at some length last week, the world’s foremost democracy has a credibility problem at
‘Inflation Isn’t A Random Walk,’ Popular Strategist Reminds You
“We all get the joke,” Nomura’s Charlie McElligott wrote Tuesday. He was referring to the “never-ending” deluge of memes and commentary lamenting a Fed condemned
US Home Prices Refuse To Cool
The annual pace of US home price appreciation hit a new record in April, according to one key gauge, even as the monthly pace of
One CIO Is ‘Horrified’ At Analysts’ Profit Complacency
“Economists have begun to cut their top-down economic forecasts for GDP, and yet fundamental company analysts are sitting there like deer in headlights not knowing
Bull In A China Shop
“This sends the signal that the economy comes first,” a Guangzhou-based investor said Tuesday. “This” was a decision by Chinese authorities to cut mandatory COVID
Why The Stock Selloff Will Resume
Be careful, it could be a trap. That’s one way to read the latest from Morgan Stanley’s Mike Wilson, who, in a Monday note, cautioned
Stubborn US Economy Won’t Go Gentle Into That Good Night
Every day it’s the same story. Or, rather, the same question: Is good news bad news and vice versa? For years, markets operated on some
Bear Market May Take Short Summer Vacation
If this week turns out to be anything like last week for US equities, it’ll feel like the bear market is over. Weary investors should
Inflation Blame Game: Whose Fault Is This Really?
There’s no shortage of debate around the relative wisdom of deploying draconian rate hikes to combat an inflation problem that has more to do with
Russia Defaults. Nobody Cares
Three years ago, when Donald Trump sanctioned Ayatollah Khamenei, I described the decision as “about like sanctioning the Easter Bunny.” It sounded impressive, but it
Crisis-Weary Fed Has 9%-Tall Mountain Left To Climb: Quant
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,
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
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