Somebody check TruthSocial. Donald Trump’s propaganda machine might’ve made a new poster to celebrate the
Category: Duly Noted
Tech Got No Love This Earnings Season
“Mr. Market,” who Benjamin Graham famously described as “cray-cray” (that’s not exactly how he put
An ARM And A Leg
Congratulations to Donald Trump and Scott Bessent on a — checks notes — 13bps drop
Not Since 1969…
Earlier this month, I noted that US jobless claims were about to make history. Again.
Mind The Control Group!
Not that you were going to, but take no solace in Thursday’s ostensible “beat” for
US Jobless Claims Set To Make History. Again.
Anybody care about US jobless claims? Not really? Well, I can’t blame you. The release
House Fire
“Harry, I know you’re pissed. We had a setback.” “Listen, Scott, I am in a
Laying Claims
“No hiring, no firing.” That’s the macro refrain in America, and it was underscored Thursday
Now Hiring?
Notwithstanding the 22% of respondents who described jobs as “hard to get” in this month’s
The Fed’s Never Been This Sure About The Jobs Market
No one who participated in the FOMC’s latest macro forecasting exercise viewed risks to the
Who’s Coming To Nashville?
Jesus Christ, maybe I should sell something and buy in Nashville. My aversion to country
Builder Sentiment Crumbles As US Mortgage Rates Soar
Homebuilder sentiment remained in the dumps early this month, according to the September installment of
Revisiting Macro’s ‘Most Important Chart’
Late last month, I spent a few minutes editorializing around what SocGen’s Albert Edwards dubbed
Since The Plague…
Americans were the most pessimistic last month on the US labor market since the world’s
If You Need A Job, Somebody Has One For You
“Get a job,” sneered Generation Jones, to the estimated 25 million adult children living with
Warsh, Bessent Credibility Crisis Sparks Gold, Crypto Buying Spree
The stakes were high for Kevin Warsh on Friday, when Donald Trump’s man on the
Real Housing Wealth Shrinks Again, Deal Cancellations Surge
The marquee gauge of US home prices posted its largest annual gain in a year
Builders, House Hunters Waylaid By Costs, ‘Topsy-Turvy’ Economy
Another month, another God-awful read on the marquee gauge of US homebuilder moods. Does anyone
Jobs On The Rocks, Claims On The Lows
Waning. That’s private-sector hiring in the US. I’m not breaking any news here. The ADP headline
Warsh And War Undermine US Housing
Remember when Scott Bessent and Donald Trump were going to “focus on the 10-year Treasury
Who Wants A Job?
Total job openings across the world’s largest economy fell the most in months, even as
In US Housing, The Worst Of All Possible Worlds?
Price growth’s re-accelerating in the US housing market, according to the marquee measures of national
Bombed-Out Housing Needs More Than Price Cuts
Last week, in an update detailing yet another in a never-ending stretch of abysmal reads
Americans Are Still Spending
Retail sales data for the world’s largest economy matched estimates in figures released Thursday by
What ‘Landing’?
“Way” back in 2023, BofA started asking professional capital allocators about the most likely “landing”
Reflation Stalls In China
Breaking news: China’s still teetering precariously on the brink of deflation. Maybe that’s a bit
The Silver Lining
I’m beating the “latent semi selloff” drum pretty hard. I promise I’m not short. Seriously.
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