In the wake of Javier Milei’s landmark election in Argentina, focus has turned to his
Author: therealheisenberg
Milei Or Melee?
Let’s be upfront about one thing: Brash politicians peddling quick fixes to intractable domestic problems,
Dollars And Doom
This is a good time for a reminder: The world’s a much friendlier place when
Biden Risks Moral Culpability For Gaza’s Child ‘Graveyard’
Joe Biden, in a weekend op-ed for The Washington Post, laid out The White House’s
Give Thanks
It’s a short trading week in the US, where Americans will gather with family members
The New Bull Case: Soft Landing Plus Insurance Cuts
In the latest edition of the Weekly, I suggested the unofficial consensus is still that
$26 Billion Pours Into US Stock Funds Amid Sentiment Shift
They were buying stocks over the last week. Equity sentiment inflected for the better this
Nobody Wants The Bonds!
Nobody wants the bonds! That’s sarcasm. It’s fair to say the oversupply panic that typified
The ‘Most Unexpected’ Macro Outcome Of 2024
In the latest installment of his popular weekly “Flow Show” series, BofA’s Michael Hartnett leveraged
New Construction Defies Dour Builder Sentiment In Distorted US Housing Market
New construction bucked the dour trend in homebuilder sentiment to post a surprise monthly gain
Money Fund AUM Hits Another Record. RRP Drain Starts Clock On QT End
Money market fund assets scaled yet another new peak in the week to November 15,
Wall Street’s Most Famous Bear Explains How Stocks Avoided The Worst
Contracting liquidity was supposed to pressure US equities during the dog days of summer and
Bubble Questions Haunt America’s ‘Magnificent 7’ After Banner Year
2023’s equity market is a story of “Magnificent 7” outperformance, and for many that’s problematic.
US Hands Xi A Propaganda Coup
He probably wouldn’t call it a smirk. But it’s a smirk. And it’s his trademark.
Housing Market Hopes Hinge On Fed Pivot As Builder Sentiment Falls Again
Homebuilder sentiment in the US dropped a fourth month to the lowest since December, an
Jobless Claims Add To Disinflation Narrative
Bond bulls and those anticipating a Fed pivot early next year were handed another piece
Forced To Cut
The top question now for markets is whether traders and investors are jumping the gun
Alternative Scenarios
I doubt I’m telling readers anything they don’t already know when I say year-ahead outlook
Financial Conditions Just Eased Dramatically. Here’s What It Means
If you’re wondering just how much of the financial conditions tightening impulse seen from late-July
Goldman’s Kostin Channels Taylor Swift For 2024 S&P Outlook
Goldman’s David Kostin channeled Taylor Swift for his 2024 US equity outlook, released on Wednesday.
US Producer Prices Drop Most Since 2020. Retail Sales Better Than Feared
US retail sales were firmer than expected in October, data released on Wednesday showed, but
Rishi Sunak Gets A ‘Win’
Headline inflation in the UK plunged in October, data released on Wednesday showed. The moderation
Emperor Non Grata
Xi Jinping is in the US this week. That’s unfortunate. There’s no more urgent matter
Wild CPI Fireworks Leave Traders Asking What Year It Is
If the Fed was nervous about the prospect of easier financial conditions in the face
Incrementally, Begrudgingly, Reluctantly Bullish
The tide appears to be turning a bit for professional investor sentiment. At regular intervals
The Bond Rally Happened. Now What?
The November bond rally accelerated meaningfully on Tuesday in the wake of a cool US
Fed Blessed With Favorable CPI Report. Rate Hikes Seen Finished
Consumer prices in the US rose less than expected last month, this week’s marquee macro
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