America’s largest corporations are beating analysts’ profit estimates at a rate not seen in at
Author: therealheisenberg
Tomorrow’s Crisis
US equities headed into May coming off their best month since the election and analysts
Gator Watching
One of the most amusing (some folks wouldn’t use that adjective) things about scrolling through
Long Inflation
The “trade of 2021” has been long copper (+27.9%) and short the 30-year Treasury (-13.8%),
Stimmy! And Leon, The ‘Fully Invested Bear’
Did you get your “stimmy?” Some folks sure did. Personal incomes rose 21.1% in March,
Double Dip
A rather glaring transatlantic divide opened up in the first quarter, as the eurozone succumbed
Exciting, Dynamic, Price-Setting Mechanisms
Another session in paradise found US equities dawdling, or “chopping around,” if you prefer to
Pay The Piper
Some of the inflation banter emanating from prominent market participants can properly be written off
Pyrrhic Victories
For the third consecutive week, jobless claims in the US dropped to a fresh pandemic
In Preview Of Summer Boom, US Economy Accelerates
The US economy expanded at a 6.4% pace in the first quarter (figure below), the
Pipe Dream
Listening to Joe Biden deliver a common sense assessment of what’s needed to help the
Tim Apple Is Doing An Amazing Job
Apple delivered another strong quarter on Wednesday afternoon. Color no one surprised. Sometimes, it’s hard
‘That Could Have Been Me’
Jerome Powell’s press conference was largely uneventful for the majority of market participants, but it
Adults In The Room
The Fed delivered a predictably bland, albeit relatively upbeat, statement following an April meeting that
Right Tail Only, Please
By now, most market participants with more than a passing interest in the day-to-day goings-on
Don’t Mention Politics
All eyes turned to the Fed Wednesday. That’s what I was supposed to write. In
Housing Is A Bubble. No Point In Denying It Now
Home prices are a lot like input price gauges these days — just as you
You Need Us
The reflationary vibes were discernible Tuesday, as 10-year breakevens pushed up against 2.4% (second figure
The American Consumer Is Absolutely Excited
Consumer confidence breezed past estimates in April, the Conference Board said Tuesday. The headline gauge
Let’s Talk Tesla, Bitcoin And ‘Risk Management’
I didn’t plan to dwell on this, mostly because it was entirely predictable, but I’d
The Cost Of Doing Business (With Archegos)
Archegos lives! Vicariously, through losses logged by banks, I mean. UBS said Tuesday it expected
Cabin Fever
Folks seemed agitated Monday. As if COVID cabin fever might finally be metamorphosing into irritation
Mind Games
It’s a broken record, yes, but it’s also a tautology: There’s a lot of uncertainty
Beyond Peak Growth
It’s becoming a familiar refrain: US growth is peaking. Purely from a “feel” perspective, that
A Trio Of Summer Risks (And Banker Vacation Backlogs)
For most, if not all, of the 12 months since the initial US lockdown, Morgan
Mixed Or Muted
Sentiment was mixed or muted (pick your favorite nebulous adjective) to kick off a week
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