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JPMorgan Warns Risks Shifting Towards Even Higher Rate Peaks
"Chaotic."
That's how JPMorgan analysts led by Marko Kolanovic described last week's price action, torn as it was between conflicting macro signals, crucial earnings reports from America's tech giants and key policy decisions from the ECB, the BoE and, of course, the Fed.
In a Monday note, Kolanovic mentioned Jerome Powell's casual dismissal of the recent easing in financial conditions. The market, Marko said, took Powell's disinclination to engage aggressively on the issue "as a green light t
My periodic check-in from NYC: rents are through the roof, grocery prices are at nose-bleed levels, airfares and rental care rates are ridiculous. Higher for longer.
It’s all good until we get a credit event. Until we get one, the Fed will continue to keep rates up. After, we will see a very rapid unwind. The inverted us treasury curve is the necessary condition for a recession and market crack. The credit event will be the sufficient condition. Credit is in fine now. That will change.
I hereby caption the article topper, “The Legendary Farting Pigeon of Wall Street.”