Bank stocks were under siege Monday, for obvious reasons. On the off chance you haven’t
Category: Duly Noted
Aramco Drills Up Cartoonish $161 Billion Annual Profit
Saudi Aramco made a lot of money in 2022. Last year was a banner year
Rates On Wild Ride As SVB Drama Downs Hawks
If there was a sliver lining for bulls in this week’s banking sector fireworks, it
2023 Exodus From US Stock Funds Hits $42 Billion
The exodus from US equity funds is ongoing. Funds focused on US shares shed another
In Geopolitical Coup, Xi Brokers Saudi-Iran Diplomatic Truce
In a potentially pivotal development, Saudi Arabia and Iran reached a provisional agreement to resume
$2.7 Trillion Stock Rally Hides First US Real Estate Drop Since 2012
Last weekend, I suggested that if push comes to shove in the inflation fight, the
Inflation ‘Persistent,’ ‘Resilient,’ ‘Broad-Based’
Inflation is persistent. Perhaps you noticed. That’s the thing about inflation: Irrespective of its original,
How Expensive Are US Equities?
US equity valuations are a source of extreme consternation for many investors currently. There are
Jerome Powell’s Ad-Libs Don’t Help
In everyday life, if you inadvertently cause confusion with something you say, it makes sense
Xi References ‘Winning Wars’ While Outlining Military Priorities
Soundbites out of the National People’s Congress remained foreboding on Wednesday. A day on from
US Revolving Credit Rises 22nd Month To Record $1.22 Trillion
Revolving credit in the US hit a new record high in January, data released on
Fed Suffers Another Setback As Used Car Prices Jump
There was more bad news on the disinflation front Tuesday, and you could plausibly suggest
US Believes ‘Pro-Ukrainian Group’ Behind Nord Stream Explosions
Now it was an unnamed “pro-Ukrainian group.” The unsolved mystery of sabotage on the Nord
Beijing Cranks Up Rhetoric As US Turns Screws
Geopolitical rancor was on the menu Tuesday, familiar fare to be sure. In his first
Goldman Says US Housing Upturn Probably Head Fake
Recent macro data out of the US economy was too much of a good thing.
Stocks, Bonds One Dovish Catalyst Away From Squeeze
Bonds and stocks could both be set for a squeeze in the event recent economic
How Much ‘Extra’ Money Is Out There?
How much did “extra” liquidity matter for the rally in equities from the October lows?
Market Ponders ‘Radically Different’ Rate Paths At Fed Crossroads
Last month’s dramatic hawkish repricing across the US rates complex found traders fading the odds
China Comes Out Cautious With 2023 Growth Target
Better to under promise and over deliver I suppose. China on Sunday set what it
US Plan To Establish China Investment Curbs Imminent
Early last month, I sketched the contours of a Biden administration plan to restrict American
2023’s Exodus From US Stock Funds Nears $40 Billion
I felt compelled Friday to pen a quick update on the equities flow story in
$70 Billion Runs To Cash Amid Macro, Policy Ambiguity
Cash is king. For once, that’s not just a tired cliché to describe risk aversion.
Credit Monitor: Outflows For Junk, Record Supply, Bad Month For IG
US junk funds bled another $2.3 billion during the latest weekly reporting period, data released
Say No To Chop, Yes To Cash
Who wants to deal with it? If you’re not asking yourself that question vis-à-vis the
Key US Labor Cost Gauge Triples In Ominous Revision
Unit labor costs in the US rose at nearly triple the initially reported rate during
‘Good For Main Street,’ Bad For Financial Assets
Let the crocodile tears flow freely. The macro regime has shifted in favor of everyday
Trapped Underwater: America’s Looming Used Car Crisis
“Is the car free?” wondered a Tennessee resident, who leased a used Volkswagen Passat from
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