To say it’ll be a busy week for fundamentals-focused traders and investors would be to understate the case. The US data and earnings docket is
Month: January 2023
The Art Of The Hawkish Step-Down
Jerome Powell’s birthday is coming up. Upon ascending the Fed chairmanship in 2018, Powell was 65. He’ll be 93 in February. Or at least that’s
Default Plan
“A politically disruptive standoff is likely later this year,” Goldman’s David Kostin said, citing the bank’s economists while editorializing around the potential market ramifications of
Television People
Notwithstanding the “outsider” shtick favored by right-wing populists in Washington and, on the other side of the political spectrum, progressives’ penchant for waving the “everyday
All Aboard!
The Nasdaq 100 is on track for a double-digit monthly gain, Tesla rose more than 30% in a single week and Cathie Wood’s flagship fund
Does Hindenburg’s Anderson Know What He’s Getting Into?
On Thursday, I characterized mainstream financial media coverage of the Gautam Adani “fraud” allegations as akin to click-bait. And make no mistake: That’s an accurate
US Consumers Real Tired Of Inflation
Real personal spending in the US fell three times more than expected last month, data out Friday showed. The figures, released as they were a
The ‘No Landing’ Risk
“Soft landing” or “hard landing”? The plane metaphors are a bit grating by now. As I put it last week, ubiquity is conducive to clichés,
Leverage Is Not A Four-Letter Word, Bassman Reminds You
A Commentary by Harley Bassman (Twitter: @ConvexityMaven) On March 16, 2021, I offered that “it may not be a coincidence that when financial markets implode,
Potemkin Village
Americans bought 644,000 new homes last year, the government said Thursday. That was the fewest since 2018. The 16.5% drop counted as the largest annual
Reply Hazy. Try Again Later
The US economy grew more briskly than expected in the final three months of 2022, according to the first read on Q4 GDP. The 2.9%
Newsworthy
It hasn’t been a “quiet” week, per se. But it’s been one of those weeks when the news flow was sparse enough that mainstream financial
Big Blue To Cut Jobs, Tesla To Cut Costs
Add IBM to the ranks of US tech behemoths cutting jobs. The company will give nearly 4,000 people the big blues in the near future,
Persistent Disconnects
One of the more remarkable anomalies in a year full of them was the persistent disconnect in 2022 between benchmark US yields and inflation outcomes.
Hold Your Hawkses
“If economic developments evolve broadly in line with the outlook, Governing Council expects to hold the policy rate at its current level while it assesses
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