“…some companies will die or their shares will devalue along the way”.
Author: therealheisenberg
Albert Edwards Has Been Right For A Long Time. But His Fans Have Kept Everyone From Realizing It.
A misunderstood bear and underrated economic thinker.
Why Nomura’s Charlie McElligott Sees Potential For A Short-Term Market Pullback
“…a meaningfully larger drop-off”.
Bad News. US Jobless Claims Have (Basically) Stopped Falling. But Hope Floats In Philly
More conflicting signals from the world’s largest economy.
‘These Are Our Dark Times’
Around the world in 800 words, as the BOE tops up QE, Australia’s labor market stumbles and New Zealand’s economy implodes.
‘I Would Print Trump’s Exact Words But…’ Trump Asked Xi For Help In Election, Bolton Says
“He stressed the importance of farmers”.
‘Nobody Believed People Would Buy Garbage’: Hertz Reimagines What’s Possible In The Age Of Robinhood
“…someone is going to be left without a seat”.
Nobody Say ‘Second Wave’
It’s probably just semantics at this point.
Bewildered.
Of “absurd” behavior and ongoing “cross currents”.
A Harley Bassman Encore: ‘Rumpelstiltskin At The Fed’
“As a reminder, there are only two avenues out of a debt crisis – default or inflate”.
‘Sell Everything To Them And Let Them Deal With It’
The “day-to-day focus really swings wildly”.
Tug Of War.
Half full or half empty?
Jerome Powell Is Very Worried About ‘Widening Gaps In Economic Well-Being’
“The burden of the downturn has not fallen equally on all Americans.”
Nomura’s McElligott: Shorts ‘Mangled’ In ‘Risk-On Panic’
And yet, remember that all of this comes with an important sequencing caveat.
‘Fragile, Neurotic Optimism’ As Cash Levels ‘Collapse’ Into Most Overvalued Stock Market Since 1998
A tale of “growth expectations jumping, cash levels collapsing, and risk appetites surging”…
US Retail Sales Double Up Projections, Surge Most On Record In Boon To Recovery Trade
These numbers will work for a market keen to pounce on any sign of good news.
A ‘Terrific Explosion’ (Or, Stimulus > Geopolitics)
It’s all fun and gains until…
‘This Cycle Does Not Defy All Precedent’: Morgan Stanley Doubles Down In Mid-Year Outlook
“We remain firmly in the camp that the economy is likely to experience a V-shaped recovery”.
Foreign Treasury Pile Dropped To Four-Month Low In April After March’s Epic Chaos
The decline in foreign holdings is set against a backdrop of ballooning supply, but…
The Fed Will Be Building A Corporate Bond Portfolio. Or Didn’t You Believe Them?
“It would be helpful if you soon began buying in size.”
Larry Kudlow Goes All In, Floats ‘I-Shaped’ Recovery Narrative Where ‘It Just Goes Straight Up’
“I don’t want to get cute here, I’m just saying…”
‘One Helluva Ride!’: Dip-Buying Perfection And The ‘Bizarre’ Case Of The Robinhood Rally
…and addressing potentially false narratives.
Why JPMorgan Thinks Global Stocks Can Rise 47%
More of a longer-term, structural thesis than it is near-term tactical call.
‘I’m Struggling To Get Optimistic’
Markets wary as risks suddenly seem more real.
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