Regular readers are all too familiar with my opinion of hedge funds and active management
Category: Duly Noted
US Stock Inflows Continue. Blue-Chip Debt Sales Near $800 Billion
If you were wondering — and I know everyone was edge of their seats —
The Regime Is Dead, Long Live The Regime
I’ve written voluminously on the growing impact of ballooning AUM for derivative income products. The
Tariffs, Taxes And Fiscal Policy
I think I’ve made it abundantly clear by now what I think of US election
Reprieve Ends For US Homebuyers As Mortgage Rates Rise
A three-week rate reprieve for aspiring US homeowners just came to an end. After flirting
Goldman Gives Up On July Fed Cut
Goldman’s seen enough. On Friday, David Mericle threw in the towel on the bank’s call
Money Market Fund Assets Climb Fifth Week, Nearing Record
Money market funds took in more than $17 billion in the week to May 22,
Hawks Fly In Fed Minutes
If the question’s how best to read the May FOMC minutes, the answer’s that it’s
There’s More To The Nvidia Story Than Nvidia
On the eve of Nvidia’s Q1 report, billed as another “make or break” moment for
Marko Kolanovic Isn’t Budging
On Monday, Wall Street’s most prominent bear adopted a relatively constructive take on US equities.
Inflows To US Stocks Accelerated During S&P’s Summit Push
Four straight weekly gains, four straight weeks of inflows. That was the story for US
Money Fund AUM Rises Further Above $6 Trillion, Nearing Record
US money market funds saw inflows for a fourth consecutive week, pushing total assets further
Next Up, Melt-Up?
The S&P closed above 5,300 for the first time on Wednesday as investors cheered a
When All You Have Are Builders, Everything Looks Like A Hammer
“Higher mortgage rates hammer confidence,” read the headline from Wednesday’s US builder sentiment update. Golf
Fund Managers Most Bullish Since ‘Everything Bubble’
Heavens to Betsy! I almost forgot to mention the May vintage of BofA’s closely-watched Global
Maxed-Out Americans Are Missing Payments
Americans who’ve maxed out their credit cards are starting to miss payments. That’s not particularly
Immigration Surge Alters Treasury Market’s Reaction Function
The keen among you have likely noticed the disparity between recent declines in US yields
Inflows To Stock Funds Accelerate Into Rekindled Rally
US equities responded to a three-week pullback with a three-week rally, pushing the US benchmark
Money Fund AUM Swells Anew With Tax Season Over
With tax season out of the way (I forked over a Hublot Sang Bleu-size chunk
Fleeting Vol Spike Drove $45 Billion In Mechanical Selling
Things were suddenly interesting. And then, just as suddenly, they weren’t again. The fleeting selloff
Erdogan Pulls Plug On Trade With Israel
Israel Katz is indignant. Or irritable. Maybe (probably) both. “This is how a dictator behaves,”
Fed Gets Good News In JOLTS Release, But It’s Not Enough
The Fed caught a rare break ahead of the May FOMC decision when the BLS’s
Closely-Watched Treasury QRA Produces No Real Surprises
The Treasury refunding announcement came and went without apparent incident on Wednesday, when coupons were
Marko Kolanovic Cautions Against Buying Stock Dips
Marko Kolanovic’s not buying it. Last week’s rebound in equities following a three-week swoon, I
‘Demand For Convexity Has Collapsed’
Blink and you missed it. For about a week, market participants showed some interest in
The ‘Dumb Money’ Just Turned Bearish
When you lose the retail crowd… For 23 consecutive weeks, the spread between professed bulls
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