Richard Clarida probably wasn’t trying to ruin anyone’s fun on Wednesday, and on any rational interpretation, he didn’t. US equities were fine. Sometimes, it feels
Author: therealheisenberg
One Big Hall Of Mirrors
Remember: It’s all relative these days. That’s applicable to pretty much everything, but especially to central bank forward guidance. Today’s “hawkishness” would count as overt
Leisure And Hospitality Hiring Plummets. Or, Wait — ‘Softens’
US private sector employers added far fewer jobs than expected in July. Private sector employment rose 330,000 last month, ADP said Wednesday. It was a
Top-Down Management
“I can hardly imagine that the authorities would just simply ban online gaming once and for all,” Global Times editor Hu Xijin said Wednesday. China
Maybe It’s Not ‘Transitory.’ Let’s Try ‘Tolerable’
Slower deliveries, labor constraints, input cost pressures, shortages of key materials and generalized logistical challenges continue to “impact” the “continuity of supply.” That was the
Keys To The City (And A Reprieve For The Renters)
“Not everyone’s going to agree with this,” Bill de Blasio said Tuesday. It was an understatement. He was referring to a new initiative called “Key
Massive American Debt! (Cheap Zingers )
I don’t generally like situations where “the jokes just write themselves.” Those types of conjunctures make everyone sound like a gifted satirist. One of my
When Oracles Lie
If I hear the term “false optic” from smart people a few more times, I’m going to start feeling smart myself. Historically, that’s perilous, by
Opium Wars
It was another disastrous day for one of the world’s most influential stocks. Tencent plunged double-digits to a 14-month low at one juncture, before trimming
Take My Breadth Away
I doubt there’s much in the way of reader appetite when it comes to laborious recaps of sell-side calls and how they evolved over the
I’ll Have The Stocks. With A Side Of Caveats
The smartest guys and gals in the room are still overweight equities, you’ll be happy to learn. Or at least officially (outwardly). There are caveats,
Why One Bank Isn’t Buying ‘Forced’ Bond Narrative
“We think that it is important to avoid the trap of forcibly fitting a narrative,” Morgan Stanley’s Guneet Dhingra said, in a Sunday note. Too
Manufacturing Surveys Show ‘Strongest Sellers’ Market’ Ever
The first of this week’s top-tier US data missed estimates, perhaps helping to make the “peak growth” case, even as it’s clear the world’s largest
Unifying Threads
Monday’s narrative was just recycled, boilerplate copy: Solid earnings and decent data helped “offset” Chinese regulatory concerns and Delta variant jitters. On another day, China’s
Jobs, Jobs, Jobs (And The Rent’s Due)
“Jobs, jobs, jobs!” Or whatever. It’s NFP week in the US, but virus headlines will likely dominate the news cycle for obvious reasons — cases
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