Bonds. Where to from here? US Treasurys are on track for a second straight annual
Author: therealheisenberg
Turning Point
[Editor’s note: In light of the historic significance of the events which unfolded in Beirut
‘Judgment Day’
“Here’s the truth,” Benjamin Netanyahu said Friday, addressing the UN General Assembly. “Israel yearns for
Money Funds, Stock ETFs Inundated In 2024 Flow Bonanza
Meanwhile, on the flows front. US money market funds just saw one of their largest
The ‘Bubble Dream’
What’s not to like? If you’re well-off, reside in an advanced economy and aren’t bothered
In China, Raging Bull
It was a blockbuster week for Chinese equities. An out-and-out barnburner. On Friday, mainland shares
Dear World: He’s Not Listening To Us Anymore. You’re On Your Own.
It doesn’t seem, to this observer anyway, that Israel’s interested in deescalating the situation in
Get In, Comrade. We’re Going To Hell
Fool me once… Hong Kong-traded Chinese shares rose for a 10th consecutive session on Thursday.
Results (Still) Pending
The good news is, a marquee measure of US pending home sales no longer sits
Fed Math: 3% Growth, 2.8% Core Inflation, 218k Jobless Claims = 50bps Cuts
If the US labor market’s Clark Griswold driving full-speed through a “road closed” sign on
Albert Edwards Sees ‘Crisis’ Brewing In Rock-Bottom Saving Rate
A few days ago, SocGen’s head of US equity strategy, Manish Kabra, officially upgraded US
New Versus ‘Used’: A Tale Of Two Housing Markets
New US home sales held up pretty well in August, data out Wednesday showed, even
Here Come The Refis
After eight straight weekly declines, mortgage rates in the US are close to achieving a
China Initiates Easing Blitz With Biggest-Ever MLF Cut
As expected, China cut the rate on one-year policy loans Wednesday, a day on from
Goldman’s Scott Rubner Sees Year-End Rally, 2025 ‘RINO’ Trade
A “year-end melt-up.” That’s what Goldman’s Scott Rubner sees, although he suspects equities could be
What If The US Consumer Never Totally Breaks?
I’m always on the look out for disparities and contradictions in the macro narrative. Not
I’ve Got A Bad Feeling About This
Confidence among American consumers slipped in September. “Slipped” is a bit euphemistic. “Deteriorated” is probably
US Housing Market Is Sad Joke With Incomes 30% Below Affordability Level
Typical homes are hugely expensive. And typical people aren’t especially well-off. You do the math.
No Pan-acea
The price of money’s irrelevant if there’s no demand for it. By appearances, officials in
Sure Sounds Like A ‘Pre-Set Course’ To Me!
I don’t get bent out of shape about much. Nor do I care for pretending,
The Risk-On, Risk-Off Fed-Jobs Tactical Equity Matrix
I’m going to eschew the temptation to make jokes about highly-paid forecasters stating the obvious.
Israel’s Pissed
I wrote to an old friend in Ra’anana on Sunday. He has a family and
Fed Advised To ‘Move Cautiously’ On Cuts As PMI Price Gauges Rise
“The Fed cannot totally shift its focus away from its inflation target,” S&P Global’s Chris
A BeLabored Point
In his pivotal Jackson Hole address, Jerome Powell said that in his view, it “seems
After The Cut
There’s plenty of data on offer this week across the world’s largest economy. And even
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