It feels like this should go without saying by now, which is why I relegated
Author: therealheisenberg
Mike Wilson, Uber-Bull?
For the better part of three years, Morgan Stanley’s Mike Wilson insisted the US economy
Capex And Clickbait
You’ve all seen the chart right? The one about fund managers and capex? If not,
McElligott On Stock Churn: ‘Relax’
“Relax, it’s just PNL protection.” That’s what Nomura’s Charlie McElligott had to say Tuesday about
US Private Sector Is Still Losing Jobs
I feel like I should introduce this brief update with a reminder: We’re getting weekly
Lowest Cash Levels On Record Shout ‘Sell!’
Late last week, while previewing the November edition of his global fund manager survey, BofA’s
Back-From-The-Dead Bonds Are Finally Beating Cash
Don’t look now, but US Treasurys are on track for their best year since 2020.
Are C-Suite AI Bulls All Hat And No Cattle?
Nearly two-thirds of S&P 500 companies mentioned AI during their Q3 quarterly analyst calls. Around
AI Bubble Fears Morph Into CDS Hysteria
Late last week, I wrote about the hullabaloo over Oracle’s credit default swaps. The overarching
China Loses It With ‘Dirty Neck’ Takaichi
One thing was clear enough when Sanae Takaichi held “direct and candid talks” with Xi
Wage Growth Goes K-Shaped
When we talk about (complain about) America’s so-called “K-shaped” economy in the post-pandemic era, we
World’s Most Important Macro Release Returns
The newly-reopened US government will release two-month-old employment figures this week. I’d suggest no one
Weekly: Don’t Forget The Fed
The disorienting to-and-fro of momo and meme stocks — and associated fretting over the psychological
Adriana Kugler’s Husband Made Some Trades
When Adriana Kugler bailed on the Fed in August, gifting Donald Trump an open seat
Crocodile Tears For Main Street
It’s rough out there, where “out there” means Main Street in America. Hell, in some
The ‘Best Short’
There’s a new big short. Or “best short.” Somebody call Michael Burry and tell him
In China: Policy Failure
Nothing to see here, just a double-digit plunge in fixed investment across the world’s second-largest
Are Traders Front-Running The Leveraged ETF Rebalance?
Way back last week (time flies when you’re over 40), I casually mentioned that leveraged
The Crash Everyone Saw Coming
The ubiquity of AI bubble narratives and, more to the point, the incisiveness with which
Local Short-Seller Deregisters Fund. Tomatoes Thrown
Michael Burry hasn’t been “in sync with the markets” for quite “some time.” That’s according
The US Government’s Open Again
Well, the US government’s open again, so that’s good. We should be thankful, I guess.
No Data For You!
The thing I like about Karoline Leavitt is… well, nothing. I don’t like anything about
Bostic Peaces Out
I guess Bill Pulte found clerical errors in Raphael Bostic’s mortgage paperwork too. Or maybe
Let’s Talk Housing. And Trump’s 50-Year Mortgages.
Purchase activity perked up in US housing over the last week. That’s good news from
Big-Tech > US Government
One under-appreciated aspect of what’s quickly becoming the grandest market debate of our time —
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