Equities are going nowhere and somewhere all at the same time. Summer can be drudgery
Author: therealheisenberg
Escalator Up, Elevator Down
In “Playing The Game,” I noted that one risk to somnolent summer markets is the
Fed’s Soft Landing In Limbo After Ambiguous Job Openings Report
There were 9.582 million job vacancies across the US economy on the last business day
America’s Factory Malaise Ongoing, But No Worse
Activity in the beleaguered US manufacturing sector contracted a ninth month in July, according to
Playing The Game
The so-called “strategist short squeeze” is proceeding apace. “Capitulation by stock market bears on a
The American Consumer At A Crossroads
The rich are pretty confident in their capacity to both obtain various forms of credit
Equity Multiples ‘Too High’ With Rate Cuts ‘Elusive’: Kolanovic
Stocks trading at 20x are too rich considering the long odds of central bank rate
Fed’s Loan Officer Survey Anticlimactic. Again.
Market interest in the July vintage of the Fed’s senior loan officer opinion survey was
‘Bad Is Good’ Again, One Bank Finds
Stocks have returned to a “bad news is good news” regime. That’s according to a
Mike Wilson And The 2019 Parallel
Last week, I noted that at least a couple of sell-side strategists are keen to
Stocks Poised For New Records, Technicals Suggest
Admittedly, I’m not a guy who’s ever been enamored with technical analysis. It’s my long-standing
Europe Vexed By Intractable Stagflation
Christine Lagarde’s noncommittal approach to future monetary tightening was validated Monday by mixed top-tier data.
Is The US Macro Bear Case Dead? Yes And No.
Is there any hope left for a macro bear case around the US economy? It’s
Summer Jobs
This week won’t feel quite as crowded as last, but the data docket is nevertheless
Chasing US Exceptionalism
The “US dollar exceptionalism” narrative comes in many flavors, just like its political counterpart, “American
Good Game!
In the latest weekly+ I touched briefly on earnings season in the US, where results
US Equity Funds Close To Erasing $70 Billion Outflow
US equity-focused ETFs and mutual funds have pulled close to erasing a 2023 outflow which
Bear Risks To The ‘Nominal Bull’
Those of you old enough (or, as a reader once joked, while putting her own
Fed’s Favorite Wage, Inflation Measures Both Cool
The Fed’s preferred measures of compensation costs and inflation came in softer than economists expected,
German Economy In ‘Twilight Zone’ Overshadows Better News In France
The world’s fourth-largest economy was stuck in limbo during Q2, data released on Friday suggested.
BoJ Goes For Nuance With ‘Flexible’ YCC
The BoJ, under new governor Kazuo Ueda, went for nuance on Friday, but I’m afraid
Money Fund Assets Soar To Record. Fed Backstop Borrowing Surges
Money market fund assets hit a new record near $5.5 trillion in the week to
One Bank Flags ‘The Cheapest S&P Puts You’ve Ever Seen’
How complacent are US equities? The most complacent ever, or at least according to one
Bond Selloff, Dollar Spike Spoil The Goldilocks Party
Bonds spoiled what should’ve been a rousing rally on Wall Street Thursday. Markets were handed
‘Goldilocks!’ Shouted The World’s Largest Economy
The US economy expanded at a much brisker pace than expected in the second quarter,
In Shift, ECB Drops Precommitment To Additional Rate Hikes
The ECB raised rates as expected on Thursday. July marks the one-year anniversary of Christine
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