“Tariff Man” isn’t imposing any new tariffs. Yet. Donald Trump won’t slap the world with
Author: therealheisenberg
As Corporate America’s Interest Burden Collapsed, US Government’s Soared
Much has been made of the C-suite’s falling interest burden, a trend that accelerated in
Will The Mag7 Ever Be ‘Tired Of Winning’?
One of the (precious) few bear cases leveled against America’s mightiest mega-caps says some of
Why Higher Rates Haven’t Hurt Stocks More
If you’re curious, stocks reacted just as they “should’ve” to the selloff at the long-end
Beaten-Down Bonds Tempt With Huge Return Potential
It was a good week for besieged US government debt. Benchmark US yields dropped around
Population Frustration
Demographics: They matter. For all kinds of reasons, not least of which is that if
Great 2020s Bond Bear Makes History
History. You’re witnessing it. You witness history by default, every day, but when we carry
Xi Or Your Lyin’ Eyes?
“Overall, the recovery is tentatively sustained in a still-fragile mode.” So said SocGen’s Wei Yao
CPI Rally Saw ‘Constructive’ Shift In Equities Options
One apple (which in this case means one bad session for Apple) might’ve spoiled the
Avoid The Tails, Stick The Landing
For traders and investors (and yes, those are two distinct classes of market participants), the
Money Trees
Wall Street harvested a bumper crop in Q4. The last of the big American banks
America’s Homebuilders Can’t Shake The Gloom
As you might imagine given the steady rise in rates since October, homebuilder sentiment in
Have Jobs, Will Spend
The last of this week’s top-tier US macro data found retail sales disappointing on the
Chasing The (American) Dream
Lost on Wednesday in a barrage of (for once favorable) inflation headlines and (for once
A Bridge To Nowhere
“The people of Gaza can finally recover and rebuild.” So said Joe Biden on Wednesday,
It Pays To Be A Bank
Banks. It’s good to be one. Quarterly results from a handful of majors on Wednesday
Every Dove Has Its Day
Markets were absolutely enamored with Wednesday’s inflation report out of the US. Bonds were the
America’s ‘Normal Economic People’ Still Screwed By Inflation
I’m not sure I’d call Wednesday’s all-important inflation update out of the US “comforting.” Although
JPMorgan’s Doing Fine, If You Were Wondering
Remember: Volatility’s a boon if your business (or one of your businesses) is facilitating trades.
January Effects
So far, January hasn’t been especially kind to previously-buoyant equities. Global shares are down 1%
Two Key Stock Performance Drivers (And One ‘Quite Depressing’ Chart)
Let’s say you want to explain stock returns and performance. What factors matter? You could
Key Systematic Strats Shed $92 Billion Of Stock Exposure Since FOMC Meeting
Is the stock pullback over? I doubt it, and now that you mention it, I
Wholesale Price Growth Slows In Welcome News For Battered Bonds
Good news for the melancholic, inflation fatalists among you (I should say “among us” considering
Capex Boom, Like Everything Else, Is A Mag7 Story
First thing this week, in “The Numbers Behind America’s AI Dominance,” I cited capex and
Why The VIX Space Is ‘Chronically Stressed’
There’s tension in the air across markets. Can you feel it? I’ve talked at some
Fed Gets Second Worrisome Inflation Expectations Update In Two Sessions
There was more evidence Monday that Americans’ medium-term inflation expectations are drifting higher (again) amid
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