What if we get good news? On tariffs or, say, on Mag7 earnings. We know
Author: therealheisenberg
Slow Bleed
If it feels to you like equities are stuck in the mud after weeks of
New Construction Plunges With $120K Incomes Needed For ‘Typical’ Home
New construction activity plummeted in the US last month, for whatever that’s worth to you.
ECB Cuts Again As Trade War Supplants Inflation As Top Concern
The ECB cut rates on Thursday, as expected. In the new statement, the Governing Council
Grounds For ‘Termination’
Never a dull moment. Among Donald Trump’s first orders of business on Thursday was menacing
Powell Says Tariffs Push Fed ‘Away From’ Goals. Reasserts Independence
Jerome Powell said words on Wednesday afternoon. Some of them were meaningful. The Trump administration’s
Tariffs Hit US Housing As Rates Soar, Builders Sour
I suppose this goes without saying, but just in case: US mortgage rates rose dramatically
Export Controls And The R&D Question
I suppose you could say I’m sympathetic to export controls aimed at curbing Xi Jinping’s
Brave Face
Not that it matters now, and with the caveat that the deflator was negative again,
US Retail Sales Hold Up As Americans Rush To Beat Tariffs
Good news: US retail sales held up last month despite deteriorating consumer sentiment. Bad news:
Risk Tolerance Evaporates With Liquidity
Liquidity. It’s topical. Because it’s impaired. That’s the thing about liquidity: When it’s in the
Waiting For A Call
“There’s no difference between China and any other country except they are much larger.” That’s
Love It Or Leave It? Investors Are Choosing The Latter
“Love it or leave it,” as the old saying goes. Increasingly, investors are choosing the
The Trump Effect: Global Growth Expectations Crash To 30-Year Low
It’s funny: The people driven most crazy by Donald Trump aren’t Trump’s detractors. Rather, the
BofA, Citi Wrap Up Another Quarter Of ‘God’s Work’
Big bank results have come and gone, and things went pretty well all things considered.
Are The Machines Done Selling?
Early Monday, I revisited “doom loop” dynamics. A fixture of modern market structure is the
Fed Survey Paints Dour Picture Of Household Moods
The good news is, household inflation expectations didn’t “moon” in the latest edition of the
Tariff Drama Activated Equity Market ‘Doom Loop’
Remember: Volatility and liquidity tend to be inversely correlated. That’s part and parcel of the
‘Insightful’ Goldman Rings Up Huge Stock-Trading Haul
At least somebody benefited from a rocky start to the year for US equities. “Somebody”
Damage Control Or More Damage?
One might’ve assumed this would be a damage control week for The White House. After
‘From One Bucket Of Tariffs To A Different Bucket Of Potential Tariffs’
The Trump administration’s now seemingly bent on undermining their own damage control initiatives before markets
How Long Until Scott Bessent Gets Fired Or Quits?
A few days ago, one brave reader endeavored to lecture me on the alleged genius
The ‘Science Fiction’ Scenario’s Upon Us
What happened to that long bond call, Mike? I’m just kidding. But BofA’s most prominent
Behold: The Worst Consumer Sentiment Report Ever
Not surprisingly, the marquee gauge of consumer sentiment in the US printed what may as
The Banks Are Fine. But Expect ‘Considerable Turbulence’
Well, at least the banks are ok. For now. JPMorgan beat estimates and lifted its
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