Over and over again in 2022, economists, analysts, policymakers and market observers engaged in the
Author: therealheisenberg
Read Elizabeth Warren’s Letter To Tesla’s Board
On Monday morning, while documenting the latest and most dramatic twist in the ongoing soap
US Housing Bubble Enters 2023 In Suspended Animation
Nine months ago, if you wanted to buy a nice property in the US, you
Heroes Of The Last War
Effectively, last week was the final week of 2022 from the market’s perspective. The US
Addiction Liability And The Roaring Twenties
For the better part of a dozen years after the financial crisis, central banks were
Sociology, But With Money
Stop the presses: Larry Summers has something constructive to say about inflation in the US
For Main Street, A Deeply Depressing, Wholly Pyrrhic Victory
Main Street scored a rare “win” over Wall Street in 2022. I’m not sure that’s
Mechanics Of The Post-FOMC Bear
The post-FOMC trade (which I typically define as the day of the decision and the
US PMIs Are Clear: Inflation Is Abating And The Cost Is Recession
Business activity in the US contracted meaningfully in early December, data out Friday suggested. Flash
The Christmas CPI Party That Wasn’t
Regardless of how things turned out on Wall Street Friday, risk sentiment was plainly on
Treacherous Vibes
The specter of ongoing rate hikes set against decelerating economic activity and persistent inflation isn’t
McElligott ‘Feels Pretty Emphatic’ About This Fed Take
The word “shock” was bandied about on Thursday to describe the Fed’s new dot plot,
‘Owl’ Lagarde Shows Talons As ECB Language Turns Aggressive
The ECB might’ve just become the most hawkish developed market central bank, an unfamiliar role
Did The American Consumer Just Fold?
US retail sales fell by the most since December of 2021 last month, data out
Hiking Into The Stagflationary Abyss
A divided Bank of England raised rates for a ninth consecutive meeting on Thursday, closing
Chinese Retail Sales Crumbled In November
Retail sales plunged in China last month, key data out Thursday showed. While the 5.9%
Unfinished Business
The Fed wants “substantially more evidence” that inflation is on a sustainable path lower. That
When Doves Try
As expected, the Fed raised rates by 50bps on Wednesday, capping a tumultuous year defined
China Reopening: What Could Go Wrong?
The Chinese government — or, more aptly, “the Xi Jinping regime” — postponed the most
Meanwhile, In The UK…
Headlines out of the UK continue to paint a bleak picture of stagflation and generalized
Howard Marks Sees ‘Sea Change’
During the pandemic, I stopped covering Howard Marks’s memos. For a time, I even stopped
Bond Bulls Fashionable Again. BlackRock Isn’t Buying It
Notwithstanding the recent rally that found 10-year US yields below 3.5% on Tuesday following another
‘A Massive, Years-Long Fraud’: SEC Makes Case Against Bankman-Fried
“From at least May 2019 through November 2022, Bankman-Fried engaged in a scheme to defraud
Here Are The Criminal Charges Against Sam Bankman-Fried
“From at least in or about 2019, up to and including in or about November
‘Peak Inflation’ For The Win
For the second month in a row, US consumer prices rose less than expected, emboldening
Record 90% Of Fund Managers Say Inflation Has Peaked
Global growth expectations might’ve bottomed this month among fund managers. That’s according to the December
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