Earnings season is upon us, but it’s not clear how much the numbers matter. Last
Author: therealheisenberg
Gods, Ponzi Schemes & Paupers
For those making $60,000 or more, the recovery is complete. That’s one takeaway from data
Inside The Bubble
Years ago, an episode of Family Guy (the edgy cartoon sitcom) featured a subplot that
‘Agnostic’ Sellers: The ‘Doom Loop’ During The Pandemic
Name something more potentially dangerous than “a large, fundamentals-agnostic, owner of equities.” Go ahead, I’ll
2021: A Rotation Odyssey
The pro-cyclical rotation finally came. For years, fleeting bouts of outperformance from perennial laggards (e.g.,
Leaving Washington
What a week it was. US equities fell Friday, amid dour retail sales and doubts
Can Economies Be Both Too Hot And In Recession?
Joe Biden’s stimulus proposal “is a big package,” the Boston Fed’s Eric Rosengren said Friday.
A Deadly Cocktail (But The Factories Are Ok)
At least the manufacturing sector is holding up. On a day when retail sales posted
Surprise! Retail Sales Are Total Debacle
Late last week, when December payrolls showed the leisure and hospitality industry shed nearly a
What, No Champagne? Markets ‘Remarkably Indifferent’ To $2 Trillion Biden Plan
As soon as Joe Biden finished speaking on Thursday evening (and even before he started),
JPMorgan Beats Helped By Reserve Release, But Dimon Delivers Caveats, Warnings
JPMorgan kicked off earnings season Friday, with Wall Street’s five largest banks on track to
Meet Joe Biden’s $1.9 Trillion ‘American Rescue Plan’
Joe Biden’s opening stimulus salvo will carry a $1.9 trillion price tag. Early reports put
Why Do We Bother? (No Time Soon)
It’s weeks like this when you wonder why we even bother with markets. Sure, there’s
Lacy Hunt Has Some Old Dogma He’d Like You To Consider
“Investing in a 30-year US Treasury bond at a paltry yield of 2.4% on December
Disaster Strikes As Jobless Claims Suddenly Surge To Almost 1 Million
Nearly 1 million Americans filed for unemployment benefits last week, a rather disconcerting development that
Alibaba, Tencent Spared Trump’s Wrath. Xi ‘Hopes’ Starbucks Can Thaw Cold War
Maybe it was just my espresso high (which would be ironic in this case), but
$2 Trillion It Is?
Market participants were poised to focus on Joe Biden’s economic plan Thursday. A report, from
China’s Exports Robust As Trade Surplus Hits Record
The data out of China continues to suggest the world’s second-largest economy is on reasonably
Second Time’s The Charm
Another day in paradise stateside found US lawmakers debating what, on any rational interpretation, isn’t
Of Bonds And Bernie
For the second consecutive day, bonds rallied and a strong auction result suggested the Treasury
Fed ‘LOLables’: Nomura’s McElligott On When Rising Real Rates Will Become A Problem
When it comes to client inquiries, Nomura’s Charlie McElligott hears the following more than any
Mitch McConnell Ponders Personally Relegating Trump To Dustbin Of Political History
We’d all be remiss not to take note when reports indicate that Mitch McConnell has
First Time For Everything And The ‘360-Degree Tapering Debate’
There’s a first time for everything, and Donald Trump was poised to become the first
US Inflation Steady, As Benign CPI Report Damps Inflation Rancor
Inflation in the US matched estimates for December, data out Wednesday showed. The latest read
Old Mac’Donald’
Markets plodded along Tuesday, exhibiting a familiar sense of annoyed apprehension. In simple terms: Anyone
The ‘Totally Appropriate’ Tail Risk
It’s not likely that Americans, as a body politic, will come to any kind of
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