It’s time for a term premium check. Why? Well, mostly because it’s a random, somnolent
Author: therealheisenberg
Bad Vibes, Impending Gloom
A couple of days ago, in “Anomaly,” I noted that the so-called “vibecession” which defined
Whither The Mag7?
There’s never been a better time to buy the Magnificent 7. I don’t necessarily believe
Fearing The Right-Tail
If you’re wondering whether the bounce in US equities which had the S&P trading within
‘Destroying Everything That’s Left’
Israel’s in the process of taking over Gaza entirely, Benjamin Netanyahu indicated on Monday, as
Man Of Destiny
One obvious read-across from the US-China trade “truce” is less urgency in Beijing to implement
Pay Up, Scott
Pay up. That was the message from the bond market on Monday, when long-end US
Where’s The Next Bull Market?
Opinions vary on whether mercurial US trade policy and a de facto abrogation of America’s
Capitol Punishment
Let’s dispense with a few obvious points up front. From a pseudo-philosophical perspective, it doesn’t
Is Trump Inviting Capital Flight? The Debate Continues
The flows rotation out of US shares and into RoW equities paused over the last
Is The Fed Ignoring An Inflation Expectations Crisis?
It’s a good thing 2025 Jerome Powell doesn’t put any more weight on the University
Just When You Thought Americans Couldn’t Get More Depressed…
Gosh. It was worse than I expected. Considerably worse, actually. Last weekend, while previewing this
Wa-a-a-ait, Mr. Postman!
Water, water everywhere, nor any drop to drink. To let Donald Trump tell it, the
America Has A Problem. And The Only Solution Is Dollar Weakness
America has a problem. A lot of them, actually. Don’t get me started. We’ll be
Homebuilder Sentiment Crashes Anew As Tariffs, Lackluster Spring Weigh
Yuck. That’s one word to describe Thursday’s update on US homebuilder sentiment. I suppose no
A Wholesale Decline
If you were looking for more good news — however fleeting it might prove —
Key Retail Sales Metric Slips As Walmart Warns On Price Hikes
US retail sales came up short where it counted on a day when Walmart warned
Not Out Of The Woods
The 2025 bear market plunge in US equities will be remembered as one the most
Royals Bearing Gifts
America’s would-be king spent Tuesday yukking it up with real royals in Riyadh. On Wednesday,
US Home-Buying Season ‘Stunted’ By Intractable Affordability Crisis
If you’re wondering — or perhaps I should say in case you had any doubts
More Extortion
Earlier this month, when the Taiwan dollar was busy staging a statistically impossible rally, officials
Gold: Overvalued And Overbought?
Gold. Every time I mention it, somebody gets pissed at me. With the possible exception
Remember: It’s Probably A Projection
“You done writing for today?” I was talking with my psychiatrist on Monday. If you’re
It’s Not ‘TDS.’ It’s ‘WTAFITGD’
Tariffs were supposed to be USD bullish, but I was supposed to be a corporate
Core Inflation Comes In Cool Again, As Good News Accumulates
Good news. More of it. Core inflation in the US ran cooler than expected in
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