I’ve said it before, and I’ll say it again: I don’t envy anyone tasked with
Author: therealheisenberg
Praying For A Compromise
2022 was unambiguously bad for bonds. You might say laughably bad, assuming you can find
Four-Step Program
If you ask highly qualified professionals, many of whom probably spent the rough equivalent of
For America’s Small Businesses, ‘Rough Times Ahead’
For the tenth straight month, US small business optimism loitered below the half-century average. I
US Housing Bubble: Something’s Gotta Give
“Way” back on October 28, while responding to comments on an article documenting a 31%
Markets And Midterms: Is Past Precedent?
There’s an argument to be made that the midterm elections in the US don’t matter
Markets, Strategy And Gridlock: Key Midterm Considerations
This feels entirely trite, but I’m compelled to mention it anyway as the US midterms
Despot Times, Despot Measures
The balance of news flow out of China was anything but encouraging Monday, but don’t
The Worst Year Ever. And What Might Be Next
Barring a miracle, 2022 will be a year to forget for market participants. Ironically in
Inflation Meets US Midterms In High Stakes Week
The data calendar in the US is sparse this week with a notable exception: CPI.
Sorry, But Democrats Are Wrong About Energy Policy
In what amounts to little more than pre-midterm posturing, Joe Biden continues to float the
15 Minutes Could Lose You $750 Million Or More
Warren Buffett bought more stock for his hedge fund and logged a massive paper loss
The Dawn Of The Great Immoderation
It’s a heretical notion, but I’m compelled to repeat it at regular intervals: It’s the
Goldman Slashes Outlook For S&P Profits. Sees No Growth
For the first time since the pandemic, corporate margins contracted in the US. Net margins
Town Square Suffers ‘Massive’ Revenue Drop, New Mayor Says
Elon Musk is upset. Or maybe not. It’s hard to say. I doubt much actually
Where US Jobs Weren’t In October
Perhaps just as interesting as where the jobs were last month, is where the jobs
Yuan, Loonie Soar, Dollar Plunges In Friday Fireworks
The offshore yuan surged the most on record. Again. Just days after a swoon for
Jobs Report Cements Lofty Fed Ambitions
The US economy added 261,000 jobs in October, the government said Friday. That was far
No, Xi’s China Is Not ‘The Alternative’
“China is the Alternative,” read the title of a somewhat dispiriting blog post published Friday morning in
Party Off, Wayne
Thursday’s key macro story — or one of them, anyway — was the stark juxtaposition
US Economy Produces Another ‘Since 1982’ Moment
For the first time since 1982, labor productivity in the US has fallen for three
Mighty US Services Sector Stares Down ‘Challenges’
Hot on the heels of a cool read on US factory activity, markets were treated
UK Faces Unimaginably Cruel Two Years, BoE Forecasts Suggest
The Bank of England on Thursday hiked rates by 75bps. It was a landmark moment.
The Rug Pull
The Fed “executed the rare ‘dovish statement, but 10/10 hawkish presser’ surprise,” Nomura’s Charlie McElligott
The Scientific Method
Jerome Powell almost threaded the needle on Wednesday. Around 20 minutes into one of the
Fed Tips Slower Hikes, But Restrictive Nod May Placate Hawks
The Fed on Wednesday hiked rates by 75bps, as expected. It marked the fourth consecutive
Terminal Patient
This’ll be stale as soon as Jerome Powell speaks on Wednesday afternoon, but only in
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