It was only fitting that the last of this week’s deluge of top-tier US macro
Author: therealheisenberg
BofA’s Hartnett On Oil, Santa Rally Odds
The absence of an escalatory crude rally in the presence of the Israel-Hamas war is
Money Funds See Second-Largest Inflow Since March
Money market funds saw their second-largest inflow since March’s regional bank drama in the week
Apple Results: Good Enough?
Apple on Thursday reported a fourth consecutive quarter of negative sales growth. Revenue of $89.5
Powell Again Falls Victim To Fed’s ‘Extreme FCI Reflexivity’
Jerome Powell this week re-learned a lesson taught time and again over the course of
Is This Bond Bounce For Real?
Early last month, during a fleeting rally for the otherwise beset US long-end, I called
Albert Edwards Weighs In On BoJ, ‘Bonkers’ US Fiscal Policy
Albert Edwards isn’t optimistic about… well, anything really, but this week he’s concerned about America’s
A Dovish Hat Trick?
US investors were treated to a dovish hat trick on Thursday, when data showed productivity
BoE Sticks With Innovative ‘Confused Hold’ Strategy
As expected, the Bank of England kept rates on hold Thursday for a second consecutive
‘Persistent’
Jerome Powell was asked on Wednesday if, and to what degree, the recent selloff at
The One Word That Matters In The New FOMC Statement
The Fed kept rates on hold Wednesday, as widely expected. There was no chance of
De-Dollarization Is Happening! On Social Media.
Lots of aggressive tweets with little to show for it. Story of our time, right?
US Labor Market Remains A Riddle
US job openings once again frustrated economists expecting evidence of labor market normalization. There were
Clouds Around US Manufacturing Darken
Bring out the recession predictions. America’s marquee gauge of manufacturing activity deteriorated meaningfully in October,
Treasury Heeds Term Premium With Coupon Caution
Treasury got the message, apparently. The term premium spoke, and at least someone was listening.
Never Again
I don’t know how many people are dead in Gaza. The body count is kept
Ex-Bridgewater Investment Chief Sees 10 More Years Of US Equity Dominance
Every few years, a new cohort of investors stumbles across recycled narratives touting the end
Yen-sanity
The yen was on track for its weakest close in more than 30 years on
Robust Labor Market Severs Sentiment-Spending Link
US consumer confidence dropped to a five-month low in October, not surprising given dysfunction in
Labor Cost Measure Which Banished ‘Transitory’ Comes In Hot
A key measure of employment costs watched closely by the Fed rose more than expected
US Home Prices Hit New Records During Summer’s Dog Days
US home values rose more than expected during the dog days of summer, according to
Europe, China Struggle, Underscoring Stark Economic Divide With US
The increasingly stark divide between a still-thriving US economy and floundering activity in the rest
Kolanovic: ‘Pessimism Rising,’ EPS Estimates Too Rosy
“Investors’ pessimism is rising.” So said JPMorgan analysts led by Marko Kolanovic on Monday. It’s true.
The Santa Melt-Up Blueprint
In “Canaries And Key Levels” and also in “Stocks Look Beyond GDP Barnburner To Price
Two Things: The Borrowing Estimate And The BoJ
Good news. I guess. Treasury slashed its quarterly borrowing estimate on Monday, which I suppose
Refunding Drama: How We Got Here
As discussed here on too many occasions to count over the past week or two,
What Goldman Sees For US Inflation In 2024
Predictions are hard, especially about the future, as the old saying goes, but when you’re
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