Another week, another decent showing for a “real-time” US labor market indicator. Note the scare
Category: Duly Noted
The Best Liquidity Conditions Ever?
With the Fed all set to begin reserve management buying of T-bills (and, “if necessary,”
Is The US Labor Market Re-Heating Behind The Scenes?
On a day when delayed and distorted BLS data failed to assuage concerns about an
Was 2025 The Worst Year Ever For US Homebuilders?
It’s probably fair to call 2025 one of the worst years ever for homebuilder sentiment
US Jobless Claims Soar As Turkey Distortion Disappears
The holiday-impacted plunge in initial US jobless claims was an anomaly. Who could’ve known? Last
US Hiring Registers A Pulse, Small Business Worry Grows
Good news: The trend in US private sector hiring improved late last month. That was
Holiday-Impacted Claims Plunge Is Meaningless
Mind the holiday distortion. I’ll say it again: Mind the holiday distortion. I’m not necessarily
Green Shoots? US Home Purchase Apps Hit 33-Month High
Don’t look now, but a key measure of purchase activity in the still-beset US housing
Behold: Rent Deflation
Good news for America’s renters. That’s something I don’t say very often. Maybe I shouldn’t
Spare A Thought For America’s Impoverished Retail Workers
As Black Friday approaches and America enters the holiday shopping season, spare a thought for
Meanwhile, In US Housing…
Good news, although I realize most of you aren’t here for that. Contract activity in
Forlorn US Housing Can’t Catch A Damn Break
They’re, um, still struggling to buy the homes. “They” is any American who wants a
AI Bubble Tail Risk Rises Sharply Among Fund Managers
It feels like this should go without saying by now, which is why I relegated
Are Traders Front-Running The Leveraged ETF Rebalance?
Way back last week (time flies when you’re over 40), I casually mentioned that leveraged
Tech Downside Likely Amplified By Leveraged Stock ETFs
Earlier this week, I highlighted (or re-highlighted is more apt given the number of times
In US Housing, Turnover’s Never Been Lower
America’s resale housing market remains woefully — perennially, even– beset. Closings have managed just a
Lower Mortgage Rates Fail To Revive Moribund US Housing
Flat. That was contract activity in the US housing market last month. Wednesday’s sole, lonely
America’s Inflation-Adjusted Housing Wealth Shrinks Again
Don’t look now, but America’s housing wealth declined a third straight month in inflation-adjusted terms.
‘If This Was A Normal Cycle’
In “This Time Was Different” I talked at some length about the uniqueness of the
Rich But Not Crazy
Rich but not crazy. That’s global equities. Bubble coverage took a backseat to cockroach coverage
Risk Taking And Sell Signals
Strange as this sounds, a fixture of the equity melt-up to a succession of new
Trading Short, Playing Catch-Up
“Why have equities been trading short?” That’s what JPMorgan’s Nikolaos Panigirtzoglou wants to know. Whenever
US Home Purchases Are Still Falling Through At Record Rates
US housing. It’s — what word should I use? — complicated. That’s a (very) polite
Wall Street Versus Main Street: It’s Complicated
True or false: The stock market = the economy. True or false: Wall Street =
Can De-Globalization Be Good For Corporate Profits?
Maybe globalization wasn’t such a great idea after all. That’s been the rallying cry for
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