If you’re biased against equity rallies built on hype, greed, mania and other manifestations of
Author: therealheisenberg
US Manufacturing Malaise Continues, But Disinflation Is Silver Lining
The marquee gauge of US manufacturing activity spent a seventh month in contraction territory, data
Under-The-Radar Revisions Help Case For Fed Pause
The sleeper in Thursday’s US economic data releases was a downward revision to unit labor
US Private Sector Hiring Blows Past All Estimates
US private sector employers added 278,000 jobs in May, data released on Thursday showed. The
A Wary ECB Doubles Down Even As Inflation Recedes
Policymaker rhetoric damped enthusiasm around a sharp drop in European inflation on Thursday. “There is
Investors Cool On US Housing With Market At Crossroad
Investors are inclined to an increasingly grim view of the prospects for the US housing
Rallies And Epochs
It’s artificial! That’s the lament from equity market bears these days. If we’re being honest,
3 Takeaways From Deutsche Bank’s ‘Imminent Default Wave’ Call
“A default wave is imminent.” So said Deutsche Bank’s Jim Reid in the 2023 vintage
10.1 Million Reasons To Doubt A Soft Landing
In a disconcerting development for a desperate Fed, Wednesday’s update on job openings across the
Xi Tells National Security Team To ‘Get Prepared For Actual Combat’
It’s funny how a given day’s coverage comes together. First thing Wednesday morning, while editorializing
Insiders And Punch Bowl Minders
The A.I. frenzy belies caution beneath the surface in equities. Or so said Barclays analysts
China’s Rebound ‘Over’ Amid Dour Data, ‘Miserable’ Stocks
“The reopening trade is over,” Credit Agricole’s co-head of trading for AsiaPac said Wednesday. He
Running Toward Extinction
If you didn’t know better, you’d mistake it for satire: Industry leaders caution on extinction risk
Bond Basis Position To Be Larger Than 2018-2019: Goldman
Is the big bond short just the other side of a basis trade? Yes, probably.
US Home Prices Bottom Near Record Highs
US home prices have bottomed. At record highs. I’m just joking. But not entirely. Both
Desensitized Americans Ponder Stagflation In Confidence ‘Beat’
Late last week, I described Americans as a “gloomy” bunch. On Tuesday, The Conference Board
The $1 Trillion Question: Who’s Buying The Bills?
Assuming Kevin McCarthy manages to get his “worthy” debt ceiling accord through a raucous House,
War Comes Home For Russian Civilians
Less than a month after the Kremlin accused Kyiv of trying to assassinate Vladimir Putin
Deal Or No Deal, US Downgrade Still Likely
Would (another) US downgrade matter with the country poised to avert a worst-case debt ceiling
Deterioration, Dissolution And Default
“The contested 2020 presidential election, brinkmanship over the debt limit to advance political agendas and
China Bull Case Is Always Folly
It almost feel gratuitous to pound the table on China’s disappointing economic rebound and attendant
Erdogan Extends Reign In Turkey
Recep Tayyip Erdogan isn’t going anywhere. Turkey’s long-serving strongman secured another presidential term on Sunday,
Jobs, Jobs, Jobs
Headlines in the holiday-shortened US trading week will revolve around Kevin McCarthy’s efforts to shepherd
‘Good News’
“This agreement is good news for the American people,” Joe Biden said, in a short
Prospectors, Gamblers And Golden Tickets
Will Nvidia become the most valuable company on the planet? It’s a question worth asking
‘Less Cash To Propagate Financial Assets’: JPMorgan Warns On Liquidity
Before the A.I. frenzy shifted into overdrive, rally skeptics explained equity market resilience by way
Marvell-Ous
Given the kind of week it’s been for the market’s A.I. obsession, I’d be remiss
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