It’s up to the data to “speak” now, and speak it would on Thursday and
Author: therealheisenberg
Goldilocks Euphoria Masks Lingering Tail Risks
With the “soft landing” / “Goldilocks” macro theme gathering adherents in the US seemingly every
Powell Leaves Markets With More Questions Than Answers
Policymakers are taking a meeting by meeting approach to assessing the need for additional rate
Meta Beats, Guides Ahead Of The Street, Raises Expense Outlook
The company formerly known as Facebook delivered quarterly results that beat estimates on Wednesday. Meta
Fed Hikes Rates To 22-Year High
As expected, the Fed raised rates to a 22-year high on Wednesday. Barring a material
Is It Game Over For The ‘Liquidity Drain’ Bear Case?
Is there still anything to be said for the “liquidity drain” bear case — other
McElligott Sees ‘Spooky,’ ‘Dangerous’ Contrast
One thing sticks out as “spooky and dangerous” when set against months of simultaneous re-risking
Fed’s ‘Murder’ Motive Less Clear, ‘Uncomfortably Long’ Goldman Says
The risk was, and in the minds of many still is, that the Fed will
New US Home Sales Slip. Prices Off Highs, But Still Onerous
New US home sales fell for the first time since February, mixed data released on
Make Vol Great Again
I’d say markets were “nervously” eying the Fed on Wednesday, but I’m not sure that’d
Microsoft, Alphabet Still Going Concerns
Microsoft and Alphabet officially kicked off mega-cap earnings in the US on Tuesday afternoon. To
IMF Update Spotlights Germany’s ‘Slowcession,’ Saudis’ Royal Dilemma
I’ve said this before and I’ll say it again: IMF growth updates are a paradox
Meanwhile, In Taiwan…
Regular readers will forgive me for recycling a bit of my own copy. There are
America’s Housing Bubble Is Reinflating. Fast.
Updates on both key national price gauges showed US home values continued to rise as
Animal Spirits Awaken As US Consumer Confidence Soars
After a sharp increase last month, a key gauge of US consumer confidence rose further
Xi’s China Is Farce
Nobody ever learns. A gauge of Hong Kong-traded Chinese shares surged the most in eight
The Maybe Bull: Who’s In And For How Much?
Investors and traders pondering the future of an equity market stuck in melt-up mode have
Marko Kolanovic Reiterates Bearish Outlook
As noted, Morgan Stanley’s Mike Wilson is still bearish. So is JPMorgan’s Marko Kolanovic. “The
How America’s Biggest Companies Benefit From Higher Rates
Last week, SocGen’s Albert Edwards marveled at the ostensibly bizarre juxtaposition between falling debt costs
Mike Wilson Sticks With It
Morgan Stanley’s Mike Wilson isn’t giving up on it, where “it” is a less-than-rosy take
Early Look At July PMIs Hints At Stagflation For America
US factory activity stabilized in July, while the services sector cooled, data released on Monday
Dire, ‘Bleak’ PMIs Portend Recession In Europe
An unfortunate read on private sector business activity suggested the European economy lacks dynamism on
What To Expect From Mega-Cap Tech Earnings
The unofficial start to big-cap US “tech” earnings came last week with reports from Netflix
Last Hike? What To Expect From The July FOMC Meeting
The Fed will raise rates this week in what may or may not be remembered
Traders Warily Eye Tidal Wave Of Crucial Data In New Week
The July FOMC meeting is obviously this week’s headliner, but it’s not the only marquee
Full Flows Capitulation Into US Stock Rally Elusive
If you’re looking to flows for clues as to the direction of equities, the picture
How Detached Are US Stock Valuations From Gravity?
One, among many, criticisms bears level against 2023’s equity rally centers on the notion that
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