The leadership in Beijing was taken aback both by how rapidly COVID spread across the
Author: therealheisenberg
The State Of Play For Markets As March Dawns
Although key PMI readings out of the US this week do have the potential to
In Markets, Rationality Doesn’t Always Pay
Morgan Stanley’s Mike Wilson spends a considerable amount of time in his weeklies addressing “pushback”
Managing American Apathy Is Tricky Dynamic For Putin, Xi
Vladimir Putin is having an easier time wearing down voters in Western democracies than he
Americans (Still) Feel A Recession Coming On
US consumers have a “super bad feeling” (to quote Elon Musk) about the short-term outlook
US Home Price Growth Slows To 29-Month Low
US home prices posted the smallest annual gain in 29 months in December, data released
Mortgages Will Soon Be Collateralized By Amazon Stock: WSJ
If you work for Amazon and you have some stock but not a home, there’s
No End Seen To ECB Hikes As Data Mocks Philip Lane
Last year, inflation in Europe was largely a function of the war and its impact
‘Misaligned’ Equities Ignore ‘Negative Externalities,’ Geopolitical Firestorm
US equities re-rated too far, too fast out of the gate in 2023. Where and
Yellen In Kyiv
A week ago, Volodymyr Zelensky welcomed Joe Biden to Ukraine. A day later, Sergei Lavrov welcomed
Make Or Break
The Fed desperately needs a break from hot US economic data. Monday’s large upside surprise
US Pending Home Sales Boom In Latest Threat To Fed
If pending home sales are a leading indicator, the long run of monthly declines in
Stocks At ‘High Risk’ In March, Wilson Warns
March is a “high risk” month for US equities. That’s according to Morgan Stanley’s Mike
How Much Have CTA And Options Flows Mattered Recently?
How much did systematic re-leveraging matter for the rebound in US equities from October through
What Really Counts For Stocks Near-Term
Back on January 30, I noted that the 12-week decline for the dollar was essentially
Why Stocks May Be Doubly Dangerous
I’ve spent quite a bit of time opining on both the re-rating in US equities
Larry Summers Was Right. Most Can’t Accept It
In March of 2021, when the Biden administration was on the verge of sending Americans
Tran·si·to·ry
The usual first-of-the-month top-tier US data is split between two weeks in March. This week
Wishing Upon A Star
If you read the weekly (it’s in your inbox, and it’s also here), you probably
As American As Apple Pie And Billionaires
I saw someone describe Warren Buffett’s annual letter as a “must-read” today. That sort of
Stock Bulls Don Blinders As Rates Explode
Even after the worst week for US equities since early December, it’d be hard to
‘Furious Invincibility,’ Furious Inflation
We withstand all threats, shelling, cluster bombs, cruise missiles, kamikaze drones, blackouts, and cold. We
US Inflation Accelerates, Spending Surges In Nightmare For Fed
Surprise! Americans spent more than economists anticipated last month, and inflation ran hotter than expected.
New US Home Sales Soar As Prices Plunge Most Ever
New US home sales surged in January and supply shrank, according to volatile data released
Junk Exodus!
If those calling for recession in the US economy are correct, it’s likely that high
The ‘Great Irony’ Of The Inflationary 2020s
“War, protectionism, de-globalization… higher inflation, higher rates,” BofA’s Michael Hartnett wrote. In the latest installment
China Releases Ukraine Peace Plan After Envoy’s Moscow Visit
Beijing has a plan. Just a day on from Wang Yi’s overtly cordial face-to-face meeting
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