If you had to pick just one word to describe the US equity market in
Author: therealheisenberg
Rates Turn Adversarial Amid US Factory Fillip
The keen among you might’ve perceived the faintest hint of a “good news is bad
End Of US Manufacturing Recession Comes With Inflation Warning
Rejoice: The US manufacturing recession’s over. America’s marquee gauge of factory activity moved into expansion
Bulls Look To Stay In Command As Q2 Dawns
After a banner Q1 for risk assets, the second quarter was poised for a constructive
The Divide
I couldn’t decide if it was ironic. And if it was, whether he recognized the
More Goldilocks?
Economists expect more “Goldilocks” data out of the world’s largest economy this week. The US
China Says Recovery Gathering Steam
Chinese economic activity picked up in March, according to… well, according to China’s statisticians. Can
Regulators
If you’re looking for (or need) a short-notice bear narrative for a market high on
Treasury Needs Fed Cuts For ‘Interest Cost Control,’ One Bank Says
I’m a bit allergic to quasi-nefarious Fed-Treasury “partnership” narratives. There’s something profoundly silly about stating
US Equities Return To Inflows While Money Market AUM Drops Second Week
The equities flows seesaw continued over the latest weekly reporting period. US-stock focused ETFs and
Half-Full Or Half-Empty?
There are a number of lenses through which one can view the ongoing equity rally
Fed Gets Good News On Good Friday
The American consumer was undeterred last month and price pressures were a bit less acute
Albert Edwards Has A New Bear Narrative
Albert Edwards has a bear narrative. More than one, actually. Albert’s collection of bear narratives
US Housing Thaw Belies Absurd Affordability Spiral
It’s nothing to write home about (get it?) but pending home sales in the US
Biden Gets A Break As US Consumer Sentiment Revised Sharply Higher
A marquee gauge of US consumer sentiment inflected meaningfully, and unexpectedly, for the better in
Another Bear Narrative Dies As GDI/GDP Gap Closes
The pace of US economic expansion during last year’s final quarter got a bump on
‘One Day Out Of The Blue’
As the book closed on a second consecutive stellar quarter for equities, the bear case
High Rollers
In “Will Fed Hikes Catch Up To Corporates After All?” I wondered if the much-discussed
Is Jerome Powell Ignoring His Own Models?
If you’re not exhausted with the neutral rate discussion by now, something’s wrong with you.
Will Fed Hikes Catch Up To Corporates After All?
When it comes to refi penalty and roll risk, it was always (and self-evidently) a
Quiescent Vol Conjures Ominous Parallel
Volatility’s topical in 2024. Specifically, the absence of it. There’s no real mystery as to
An Audience With The Emperor
The two-day China Development Forum ended on Monday, but a handful of US corporate luminaries
Why US Bond Yields Should Be Far Lower
Bond yields should be higher. It’s easy to make the case. I do it all
Up, Down Or Sideways?
Never before has global manufacturing activity loitered so long in what amounts to a neutral
Fed Went Record-Broke In 2023
The Fed’s broke. Maybe you heard. Or as broke as you can be when you’re
MAGA Merger
Nancy Pelosi once said of Donald Trump: “Everything he says is a projection. When he
American Consumer In Limbo Amid Macro, Political Ambiguity
American consumers are feeling ok about the current state of the US economy. They aren’t
You must be logged in to post a comment.