A fixture of the pandemic-era, wartime inflation debate is the (largely self-evident) contention that central banks can’t solve supply shocks. Only offset them by engineering
Month: August 2022
The ‘Controversial’ Stock Narrative That Isn’t Controversial
US equities are again vulnerable to “accelerant” flows which could exacerbate directional moves. It’s a familiar tale. And, crucially, it’s not a tall tale. In
US Employers Add Fewest Jobs Since January 2021: ADP Reboot
The return of ADP’s monthly private sector employment report offered a comparatively lackluster snapshot of the US labor market. Following a monthslong hiatus, ADP, in
As Europe Faces Oblivion, Markets Debate Technocratic Tinkering
Inflation likely rose more than 9% across the euro-area in August, data out Wednesday showed. The preliminary read on price growth was accompanied by the
This Is The ‘100-Trillion Dollar Question’
In the aftermath of Jerome Powell’s overtly hawkish address in Jackson Hole, markets are compelled to ponder a “100-trillion dollar question.” Powell left little doubt
US Labor Market Still A Hopeless Funhouse Mirror
Officials searching for evidence of normalization in the US jobs market were left disappointed by key figures released on Tuesday. Job openings actually rose 200,000
US Home Prices Cool. Only Not Really
Rejoice, “bargain” shoppers! US home prices grew at the slowest annual pace since May of 2021 at summer’s onset. That’s according to the S&P CoreLogic
UK Inflation Could Reach 20%, Goldman Warns
Inflation in the UK could reach almost 15% in January, and may rise as high as 20% early next year in the event gas prices
Staving Off A Crisis
It’s not a stretch (at all) to suggest Europe is currently facing the most onerous economic outlook in modern history, including the sovereign debt crisis.
Delayed Reckoning
Earnings, and particularly forward estimates, were the proverbial next shoe to drop. And then, suddenly, they weren’t. According to some top-down strategists, Q2 reporting season
The ‘Flashy, Gimmicky’ Student Debt Piñata
A “flashy gimmick.” That’s what the Wall Street Journal‘s editor… oh, wait, it’s the Washington Post! Joe Biden’s student debt relief plan is a piñata.
Mike Wilson Never Liked This Rally Anyway…
“The equity market became a victim of its own momentum over the past few months as CTAs and other price insensitive buyers drove valuations to
‘Chaos’
Global equities were fussy at the beginning of a week that’ll presumably be defined by “jobs, jobs, jobs” in the US, and more hand-wringing over
Poring, Pouring And Poor-ing
Appropriately, the pre-Labor Day trade in the US will be all about the US labor market. Also in focus in the new week: Europe’s ongoing
No Trade-Off?
“Are you willing, in Wall Street parlance, to ‘be Volcker’,” Bloomberg’s Michael McKee asked Raphael Bostic, during an interview in Jackson Hole last week, just prior
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