Morgan Stanley’s Mike Wilson still doesn’t believe in a “Santa rally” on Wall Street. What
Author: therealheisenberg
World’s Fourth-Largest Economy Stuck In ‘Twilight Zone’
The world’s fourth-largest economy remains stuck in the “Twilight Zone,” as one bank put it
A Quick Guide To The All-Important Treasury Refunding
This week’s Treasury financing estimate and refunding announcement are a big deal. Indeed, as discussed
Traders Brace For Macro Thriller As Huge Week Looms
It’s a hectic week for the macro community. A daunting bevy of data, including top-tier
Three Big Central Bank Decisions: What To Expect
The Fed will stay on hold this week. In a world plagued by terrifying uncertainty,
Canaries And Key Levels
Earlier this month, when the bank’s pseudo-famous “Bull & Bear Indicator” flashed a rare contrarian
Stocks Look Beyond GDP Barnburner To Price Slower Growth
We’ve entered “a new phase of the rising rate saga.” That’s according to Goldman’s David
‘Once Jobs Go, The Whole Cycle Goes’
“Sell the last hike.” That’s been the mantra for one of the sell-side’s most recognizable
‘The Biggest Flow Story Right Now’
Earlier this week, I highlighted ongoing inflows to the largest Treasury ETF amid more rates
‘The Greatest Credit Event Of All’
The greatest risk of all is a disorderly bear steepener. If you’re a longtime reader,
The Good Die Young
Li Keqiang, China’s de jure No. 2 leader for a decade, is no more. Li,
Spending Data Underscores Resilient Consumer Narrative
US consumer spending was more robust than expected in September, data released on Friday showed.
Money Market Fund Inflows Resume. RRP Near Two-Year Low
Money market funds recouped a portion of last week’s massive outflow in the week to
Amazon Sales Guidance, AWS Growth May Fail To Impress
Amazon managed to top sales estimates with Q3 results released after the bell in the
The 1969 Analogue
Readers have heard a lot (too much, maybe) from me on the bear steepener over
McElligott Sees ‘Big Problems’ For 2023 ‘Big Sharpe’ Trades
One risk headed into earnings was the abatement of the low bar dynamic. Low bars
US Economy Evinces No Recession Inclinations
The US economy expanded at a blistering 4.9% annual rate last quarter, according to the
ECB’s Frantic Hike Out Of NIRP Ends. Future Uncertain
The ECB kept rates steady on Thursday, as expected. The decision was notable. Or as
Meta Beats, Reality Labs Bleeds
Meta topped estimates in Q3 results released after the bell in the US on Wednesday.
Any Old Mike Johnson Will Do
Say congratulations to Republicans: They managed to elect a House speaker. I joked Tuesday that
Confused Rhino
Anyone in need of respite from the roller coaster that is the US bond market
Largest Treasury ETF Is Market Obsession Amid Epic Bond Turmoil
The largest Treasury ETF became a source of intense — and I’ll eschew the temptation
Buyback Rebound Will Prove Elusive, BofA Suggests
Buybacks: Who doesn’t love them? Buybacks are shareholder capitalism’s crowning achievement. It’s stockowners who matter
The Perils Of Scandalizing Context
Israeli diplomats, including Foreign Minister Eli Cohen and UN Ambassador Gilad Erdan, are furious with
New Home Sales Surge As Prices Plunge. Rates At 8%
New home sales exploded higher in September, data released on Wednesday in the US showed.
Microsoft, Alphabet Wave Large Numbers Around
Microsoft topped sales and profit estimates with fiscal year Q1 results released after the bell
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