US economic activity remained robust in November, but growth was impaired by a shortage of
Author: therealheisenberg
Lira Collapses As Erdogan Flirts With Outright Calamity
“We know quite well what we’re doing with the current policy, why we’re doing it
Marko Kolanovic Asks ‘How Cheap Is Oil?’
For the past couple of months, the Biden administration has been at pains to articulate
When ‘Goldilocks’ Isn’t ‘Just Right’
Cognitive dissonance doesn’t have to be distressing, although it often is. You can harbor inconsistent
Biden, Radical Leftist, Sticks With GOP Investment Banker At Fed
Don’t shake anything up, Joe, it might be too risky. America’s left-wing radical commander-in-chief threw
War Games And Vaccine Agitprop
Some market participants may be concerned, but it isn’t likely that new containment measures tied
Summers Humbly Assigns Numerical Odds To Unknowable Future
I often wonder if there’s a place for humor in the world anymore. People still
Thanksgiving Week Promises Data Feast, Biden Fed Pick
Market participants in the US will take a day off this week to gorge themselves
Bet On The Fed, Not The Macro
“Confusing.” That’s as good a description as any when it comes to assessing US rates,
Wall Street Has Almost Never Been This Pessimistic
We’re now seven weeks into the fourth quarter and US equities have gained in six
Don’t Forget About The Plague
“10-year US real rates are now -4.6%,” BofA’s Michael Hartnett wrote, in the latest installment
‘Epic Feats’ Of US Government Dysfunction
The House passed Joe Biden’s social spending plan on Friday, clearing the way for Joe
Front-Running ‘Semi-Predictable Volatility Storms’
Over the course of 2021, the notion that OpEx is associated with vol expansions and
Austria Mandates Vaccines, Locks Down Country In Dramatic Crackdown
Market sentiment took a hit Friday from news that Austria will institute a 10-day nationwide
The Final Decoupling: Markets Achieve ‘Autonomy’ From Fundamentals
When BofA asked the 350 panelists who participated in the November edition of the bank’s
Another Quick Word On The Market’s Tech Addiction
Earlier this week, in “The ‘Greatest Risk’ To The ‘GAMMA’ Stocks,” I mentioned SocGen’s Albert
In Turkey, ‘History Is Now Going In Reverse’
You can have your theories, but Turkey’s Recep Tayyip Erdogan “cannot be on the same
Firms See Long-Run Inflation Running Far Above Fed Target
If you’re inclined to extrapolate from regional Fed surveys, the US economy is still running
A Straight Horizontal Line
In a wonderfully ridiculous example of fitting a narrative to a given day’s price action,
In ‘Dreamland,’ Nobody Knows Anything
To the extent they’ve succumbed to avarice, market participants could use “a little bit more
Crash-Up! Retail Investors Engineer Another Gamma Squeeze
There’s been a “massive grab” for short-dated lottery tickets in high-flying US growth shares and
Housing Starts Data Betrays Eye-Watering Disparity
US housing starts fell a second month in October, data out Wednesday showed. Starts dropped
‘Raging Manias’ And The Only Acceptable State Of Affairs
The headlines are littered with bubble warnings. Of course, that’s been true every day for
The ‘Greatest Risk’ To The ‘GAMMA’ Stocks
Earlier this month, I noted that “concentration risk” in US equities is the highest it’s
Investors ‘Storm’ US Housing Market, Buy 90,000 Homes In Three Months
As US home prices ascended into the stratosphere amid a confluence of pandemic dynamics all
Goldman Delivers 2022 US Equity Outlook (It’s Bullish)
700 points separates Goldman’s year-end 2022 target for the S&P 500 from Morgan Stanley’s forecast.
Forget Bill Dudley. Mind The Flows That Matter
If you’re looking to explain intraday market swings, don’t read too much into the incessant

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