Neel Kashkari sees inflation. A lot of it. And he sees it everywhere. “It’s very
Month: July 2022
Help (Still) Wanted
“This is a very strong labor market,” Jerome Powell said last week, addressing reporters following
Nice Rally You Got There…
You could make a fairly long list of compelling reasons to distrust the rally in
I Was Told There’d Be Drama
A week ago, I (somewhat begrudgingly) expressed guarded optimism about earnings season in the US.
Squeezes And Pivots
The nascent recovery in beleaguered stocks is rational, but if you ask one popular sell-side
Workers Drown Despite Hottest Wage Growth On Record
Consumer psychology improved in the back half of July, a revised read on a key
Fed Losing Control, Unruly Wage, Price Data Screams
A closely watched measure of worker compensation rose more than expected in the second quarter,
Disastrous Inflation Overshadows Stale European Growth Surprise
Inflation in Europe rose more than expected in July, preliminary data out Friday showed. It
Apple ‘Enriches Lives,’ Amazon Soars As Mega-Tech Earnings Wrap
Amazon and Apple closed the book on mega-cap tech earnings Thursday, as US equities looked
Jokes On Jay
The Fed is subject to a lot of bad jokes in 2022. Some are literal
Biden ‘Not Surprised’ Fed Kneecapped ‘Historic’ Economic Boom
Joe Biden subtly blamed Jerome Powell for the recession both men claim the US isn’t
Don’t Call It A Recession
It’s not a recession. It can’t be. The labor market is too strong. The midterms
Price Discovery. Via Tasseography
Real-time Fed tasseography is a very difficult undertaking. Almost as a rule, asset prices aren’t
You Have One Job
“Restoring price stability is something we have to do,” Jerome Powell said Wednesday, during remarks
Trapped Fed Goes Big Again With Recession Looming
The Fed hiked rates by the most since 1994 for the second consecutive meeting on
A Sturdy Corporate America Defies Doomsayers. So Far
The “profit reckoning” thesis is in jeopardy. Although a tsunami of key reports, including results
‘Tumbling Down’: Pending Home Sales Plunge, Mortgage Activity Evaporates
Another day, another dour read (or two) on the US housing market. Pending home sales
Bear Market Rally: Who’s Buying And Who’s Not Selling
Capitulation in equities is “only partial.” That was the message from Barclays at a critical
Microsoft, Google Still Going Concerns
Investors were on tenterhooks for mega-cap tech earnings, and not just because the “broad” market
Canaries In America’s Housing Bubble
New US home sales figures for June, released on Tuesday, were a veritable compendium of
Fair-Weather Fans
2022 will remembered for a lot things, most of them bad, or at least if
Blistering Pace Of US Home Price Gains Seen Out Of Gas
The rate of US home price appreciation is slowing, data out Tuesday showed. Of course,
Define ‘Pivot’
This is all very simple, really. Markets will bottom when inflation peaks and the Fed
Everyday Low Guidance: Walmart Delivers Another Reality Check
Is an anomaly anomalous if it happens twice in three months? I don’t know. That’s
Something’s In The Price
Given a demonstrable deceleration in various measures of economic activity over the past month, it’s
Nowhere To Turn
There’s nothing you can do. Just as the Fed has no “good” options at a
60:40, Food:Fuel
It’s been a tough year for multi-asset investors, where “tough” means all assets have incurred
