A couple of days ago, I mentioned the 25/25/25/25 portfolio again. The case for embracing
Author: therealheisenberg
‘Locking In’ Inflation: Revenge Of The Theories
Are central banks “locking in” above-target inflation? You’d like to think not. And policymakers would
US Business Surveys Show No Slowdown, Inflation Heating Up Again
So much for the “slowdown” narrative. You might’ve assumed the second-largest bank failure in US
‘Partly Booming’ European Services Puts ECB In ‘Sticky’ Situation
Activity in Europe’s services sector is picking up rapidly. Whether that’s a good thing depends
Money Market Assets Dive, Fed Backstop Usage Rises Amid Tax Distortions
US money market fund assets plunged by almost $70 billion over the weekly reporting period
Yellen Stakes Out US Position Ahead Of China Tech Restrictions
For the third time in as many months, I’m compelled to inform you that Joe
‘The IMF Is Wrong. The Ice Age Is Dead’: Albert Edwards
In February of 2020, on the eve of the pandemic, SocGen’s Albert Edwards made a
US Home Prices Fall In ‘Unique Market’
Existing home prices in the US are falling. Or were falling. And for real this
5 Reasons For A ‘Too Low’ VIX
Over and over again last year, market participants of all shapes and sizes asked the
Slowdown Ahoy? Jobless Claims, Philly Fed Point To Deceleration
US jobless claims are getting interesting again, but only mildly so, and I hesitate to
Musk’s Margins
You wouldn’t know it from all the times I criticized him last year, but I
‘Greedflation’ Probably On Borrowed Time
I’ve been on (and on, and on) about so-called “Greedflation.” Whenever something goes wrong in
What’s The Fed Thinking? Ask ChatGPT
Notwithstanding terrifying warnings+ about “nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us,”
Trading Around America’s Debt Ceiling
As Kevin McCarthy made clear this week while doing his best Ronald Reagan impression at
UK’s Economic Nightmare Rolls On
The UK’s inflation problem isn’t getting better. “These figures reaffirm exactly why we must continue
Morgan Stanley Posts Solid Results, But Provisions Surge
Morgan Stanley rounded out big US bank earnings Wednesday with a solid set of numbers
Rising Recession Odds Bring Out The Bond Bulls
I’ll say one thing for Hoisington’s quarterly letters: They’re efficient. The firm, which is synonymous
The Ongoing Investor Perils Of Recency Bias
Why was last year’s historic 60/40 drawdown so shocking to so many investors, professional, amateur
Three Reasons Stocks Keep Frustrating The Bears
As you might’ve noticed, some of the most recognizable names on the sell-side are adamant
Tail Risks And Sideline Cash
The biggest tail risk is now a credit crunch accompanied by a global recession. That’s
Untidy Goldman Results Suggest Solomon’s Pivot Still Work In Progress
I think it’s fair to suggest that some observers believe Goldman has lost its way
BofA Bolstered By Blockbuster FICC Haul, Solid NII
Last week’s big bank results suggested America’s largest financial institutions fared well in the first
Chinese Economy Remains A Riddle
The Chinese economy expanded 4.5% during the first quarter, according to what I’ll generously call
Market Breadth Now Weakest Ever, Famous Bear Warns
Two of the sell-side’s most recognizable names warned on market breadth Monday. In an asset
Kolanovic: Market Risk-Reward ‘Heavily Favors Cash’
“Markets often bottom before the end of a recession, but not before the beginning of
Kevin McCarthy Calmly Warns Wall Street Of ‘Debt Detonation’
Kevin McCarthy doesn’t want Joe Biden to “bumble” into a technical US default. That’s according
Stocks Got $70 Billion Assist From Vol-Control Demand
If you’re wondering how much support equities have potentially received from the vol-sensitive mechanical bid
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