So… market concentration. It’s topical. And it’s extreme. It’s topical because it’s extreme. At this
Category: Duly Noted
‘Anything Can Happen’: Magnificent 7 Plunges
Big-cap US tech came into this week squarely on the back foot having traded meaningfully
Notable Seasonals
Coming out of a turbulent week both for US equities and domestic politics, and looking
What If All The AI Spending Never Pays Off?
What if all the AI spending doesn’t pay off? That’s the question no one wants
Revenge Of The Little Guy
If you were wondering whether the historic rotation to small-caps that dominated market headlines earlier
Netflix Delivers Solid Quarter As Paid Adds Crush Estimates
It’s been a very long time since Netflix’s quarterly results counted as a major market
Behind 2024’s Biggest Tech Wreck
America’s mighty mega-caps were under siege on Wall Street mid-week. The Nasdaq 100 was down
Is The Rotation For Real?
Is the rotation for real? That’s one key question for equity investors going forward. As
Trump’s Odds, Stocks And The Grover Cleveland Analogue
Prediction market odds took another turn in favor of Donald Trump in the wake of
Stock Funds Pass Quarter-Trillion Inflow Mark For 2024
If you’re keeping track at home, global equities just posted their sixth consecutive weekly gain.
A Broader Bull May Be No Bull At All
I don’t know if I’d call it a “consensus” narrative exactly, but a popular take
High Rate Hurdle Hard To Clear For US Housing
“Most borrowers do not have much of an incentive to refinance at current rates,” MBA
US Credit Card Debt Rebounds, Hits New Record At $1.35 Trillion
Looking for more evidence that incorrigible American consumers might’ve finally exhausted the last of their
Money Market Funds Now House Nearly $6.2 Trillion
If you were wondering — and I know you were — money market fund assets
Requiem For Rate Hikes
Last month was pivotal. Maybe “pivotal” isn’t the right word. Let’s call it “remarkable” instead.
Damn You 7%!
Bad news for America’s teeming scores of landless peasants: The cost to finance a cheap,
Tesla On A Roll As Deliveries Top Estimates
In a notable development given myriad pressing questions about the company’s growth outlook, Tesla topped
What To Expect From Q2 Earnings Season
For whatever it’s worth, the bar to clear for corporate America when reporting season kicks
Chinese Economy Still Struggling, Latest Data Shows
The Chinese economy’s still on shaky footing. At this point — which is to say
What If Tariffs Are Deflationary This Time?
Here’s an idea: What if new tariffs are deflationary? If you’re inclined to dismiss that
US Housing Market Logs Another Regrettable Record
I hate to relegate the single-worst read on a key leading indicator of US home
‘Too Big To Fail’ US Stock Market Isn’t So Exceptional Without Tech
US equities are “too big to fail.” That was one, among many, takeaways from what
The Bond Conundrum
Bonds have very nearly pulled even for 2024. Maybe you noticed. 10-year US yields were
Where’d The Shorts Go?
Late last week, I spent a few minutes editorializing around record-low short interest on the
Money Market Funds See First Outflows Since Tax Week
US money market funds saw their first outflows since tax week, an update released after
JPM Sees ‘Implicit Short Vol Trade’ In Record-Low ETF Short Interest
Short interest on the two predominate ETFs tracking the most important US equity indices has
‘Haves’-‘Have-Nots’ Divide Reaches Tipping Point, One Bank Warns
There’s a vociferous debate raging in the macro community where economists, technocrats and economists employed
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