The S&P closed above 5,300 for the first time on Wednesday as investors cheered a
Author: therealheisenberg
When All You Have Are Builders, Everything Looks Like A Hammer
“Higher mortgage rates hammer confidence,” read the headline from Wednesday’s US builder sentiment update. Golf
Statistics Bulletin Makes Headlines
Mind the fifth decimal place! Parse the nuance! Run the whole thing through a supercomputer!
When You Lose The Consumer…
Last month, Americans spent more on flatscreens, lumber, watering cans, groceries, gas, clothes and restaurant
Markets And The People Who Trade Them
Markets and the people who trade them (that could be a soap opera: “Last time,
Fund Managers Most Bullish Since ‘Everything Bubble’
Heavens to Betsy! I almost forgot to mention the May vintage of BofA’s closely-watched Global
Maxed-Out Americans Are Missing Payments
Americans who’ve maxed out their credit cards are starting to miss payments. That’s not particularly
Imagine A World
Imagine a world where Fed officials were required to say something new, or at least
Memes Make Mockery Of Powell’s ‘Restrictive’ Refrain
I’m not one for gratuitous Fed criticism. God knows I’m not. I avoid, assiduously even,
Fed Suffers Another Setback
Bad news, everybody: US producer prices rose far faster than expected last month, a development
Tariff Men
Blame China. It worked for the other guy, maybe it can work for us too.
Immigration Surge Alters Treasury Market’s Reaction Function
The keen among you have likely noticed the disparity between recent declines in US yields
Israel’s War Cabinet Is In Denial
Israel needs to agree to a permanent ceasefire with Hamas in exchange for the remaining
Renewed Soft Landing Faith May Be Misplaced, Kolanovic Says
Markets are “settling back into the soft landing narrative,” JPMorgan analysts led by Marko Kolanovic
Attenuated Progress
Americans’ near-term inflation expectations are drifting higher again. That’s not the best news. Inflation’s in
‘We’ll Have Both Guns And Butter’: Putin Goes All-In On Statist Push
Committed statist. Incorruptible technocrat. Son of a Soviet economist. That’s Andrey Belousov. And that’s who’s
US Inflation Update Takes Center Stage In New Week
The macro docket’s not exactly “crowded” this week, but there’s enough on the schedule to
Dictatorial Data
Chinese macro releases are a bit of a rabbit hole. Beijing leaves a lot to
F–k Ken Griffin
Ken Griffin’s concerned about Harvard, his alma mater. And also about higher education in the
Meanwhile, In The Blue-Chip Corporate Bond Market…
Half a trillion. Give or take. That’s how much investment grade credit funds are on
US Consumer Sentiment Plunges
The mood among US consumers darkened considerably in early May, this week’s only top-tier US
Inflows To Stock Funds Accelerate Into Rekindled Rally
US equities responded to a three-week pullback with a three-week rally, pushing the US benchmark
‘Peak No Landing’
Everyone’s in the “Anything But Bonds” rally and “no one’s in the long-end.” So said
Money Fund AUM Swells Anew With Tax Season Over
With tax season out of the way (I forked over a Hublot Sang Bleu-size chunk
Yes Or No Questions
How worried should investors (and the world) be about post-election volatility and societal upheaval in
The Biden-Bibi Breaking Point
Early last month, I described Benjamin Netanyahu as “an intolerable liability.” The White House, I
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