Don’t look now, but yields on benchmark Chinese government bonds are below 2%. Or were
Author: therealheisenberg
Budget Blackmail
Even if the current French government doesn’t collapse this week, Michel Barnier’s brush with a
Going Back To Aleppo
The last time the Syrian opposition controlled Aleppo, I was holed up in a backup
Jobs Week Ahoy
US traders will return to their terminals after what, for most, was a four-day weekend,
To The Victor Goes The Spoils System
Let’s not kid ourselves: Donald Trump would like nothing more than to preside over the
Inflows To US Stocks Shatter More Records
They were still buying US stocks over the last several days. If you were curious
Bonds, Bessent And Buffoons
Thank Scott Bessent. Or, if you’re a junior journo condemned to writing market wraps nobody’s
Do Your Own Research
I’ve said this probably more times than I need to by now, but I’ll say
Europe Grapples With Stagflation-Lite. Trump To Eye Weak Currency
Headline inflation’s back above target in Europe, but don’t worry, the ECB will probably cut
Meanwhile, In France…
I hesitate to dedicate scarce editorial resources to France’s budget drama, not because it isn’t
Just Two More Months
“Don’t worry about it. You get paid in rubles, not dollars.” That was Dmitry Peskov’s
On The Housing Rollercoaster
Rejoice, renters! Financing costs for what one reader aptly described as hopelessly nondescript “people self-storage
US Core Inflation Warmest In Months As Tariffs Loom
Nominal spending was sturdy, inflation-adjusted spending less so, and core inflation was warm last month,
Trump’s Inheritance
The second estimate of Q3 US GDP, released on Wednesday, painted a similar picture to
Stocks Aren’t Out Of Melt-Up Fuel Yet
With all the talk of record (or near record) inflows to US equity funds, and
Destination Unknown
The Fed’s on a road to somewhere, they just don’t know where. That was one
Wishful Thinking
Way back last month, consumer confidence in the US soared the most since “stimmy” was
New Home Sales Plunge, Prices Rise In Still-Distorted US Housing
Sales of newly constructed US homes fell sharply in October, when the South was recovering
Have You Heard The Good News?
Donald Trump took a few minutes away from hawking his latest book (“SAVE AMERICA”), promoting
Structural, Ongoing And Permanent
I’m never sure how much editorial attention to afford the ongoing active-to-passive shift in the
Goldman’s Rubner Orders SPX 7K Hat
If you ask Goldman’s Scott Rubner, the S&P’s likely to hit 6,200 by year-end, and
America Or Nothing
On Sunday evening, ahead of Thanksgiving week in the US, I wrote that “for all
Justifying The Bubble
US stocks. You gotta have ’em. Unless you want to underperform. And nobody wants that.
Adult Supervision
“Oh good, Scott Bessent!” Maybe that’s something people say in all sorts of contexts. Like,
Give Thanks 2024
It’s Thanksgiving week in the US, and longtime readers know just how I feel about
Beware The Bonds?
I have serious reservations about the medium-term outlook for US equities, and to the extent
Trump Picks Gay Soros Protégé To Run The US Treasury
Someone described Scott Bessent, Donald Trump’s nominee for Treasury Secretary, as a “peace offering” to
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