Last month’s dramatic hawkish repricing across the US rates complex found traders fading the odds
Category: Duly Noted
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
The State Of Play For Markets As March Dawns
Although key PMI readings out of the US this week do have the potential to
Managing American Apathy Is Tricky Dynamic For Putin, Xi
Vladimir Putin is having an easier time wearing down voters in Western democracies than he
Mortgages Will Soon Be Collateralized By Amazon Stock: WSJ
If you work for Amazon and you have some stock but not a home, there’s
‘Misaligned’ Equities Ignore ‘Negative Externalities,’ Geopolitical Firestorm
US equities re-rated too far, too fast out of the gate in 2023. Where and
Make Or Break
The Fed desperately needs a break from hot US economic data. Monday’s large upside surprise
What Really Counts For Stocks Near-Term
Back on January 30, I noted that the 12-week decline for the dollar was essentially
Why Stocks May Be Doubly Dangerous
I’ve spent quite a bit of time opining on both the re-rating in US equities
Wishing Upon A Star
If you read the weekly (it’s in your inbox, and it’s also here), you probably
‘Furious Invincibility,’ Furious Inflation
We withstand all threats, shelling, cluster bombs, cruise missiles, kamikaze drones, blackouts, and cold. We
Junk Exodus!
If those calling for recession in the US economy are correct, it’s likely that high
What 0DTEs Are Doing To Markets
When I talk about “brave new markets,” I’m generally referring to market microstructure in general,
Meanwhile, Inside The Housing Bubble…
How large was the correction in the US housing market during 2022’s rapid run-up in
Cruel US GDP Revisions Are Cause For Angst
Historically, I haven’t spent a lot of time covering GDP revisions for the US economy,
Comrades In Moscow
Wang Yi got his meeting with Vladimir Putin on Wednesday. Or perhaps it’s more accurate
The Search For Peak Rates Continues
Have “oblivious” US equities finally woken up to what’s going on in the rates complex
What Walmart And Home Depot Said About The Economy
Nearly two years on from the last round of stimulus checks, the US consumer has
Head-Spinning Regime Shift Feeds US Stock Fund Exodus
It’s always an open question whether flows follow performance or vice versa, but the prospect
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