Nobody would blame you for suggesting market sentiment outran the fundamentals during the opening weeks
Category: Duly Noted
Macro Tension And 0DTE: Why Stocks Are ‘A Mess’
Equities are an “untradeable mess.” That’s apparent to anyone trying to trade them. The maddening
Russia Commits 97% Of Military To Ukraine As Fund Managers Worry
If you were wondering just how pot committed the Kremlin is to Vladimir Putin’s imperialist
China’s Middle East Pivot Is Hard To Ignore
Whenever the “petroyuan” comes up (which is quite often these days), I’m always keen to
What The US CPI Report Means For Fed Policy
Like every other monthly inflation update out of the world’s largest economy, Tuesday’s US CPI
Wanted: Selloff Catalyst In Lieu Of Profit Recession
To some market participants, it probably feels like the earnings recession call (the “profit reckoning”)
What’s Really Behind The Yield Curve Inversions?
Every day, someone, somewhere cites the yield curve (pick a curve, any curve) to argue
Did Everything Change Earlier This Month?
“It will likely take a few months for the true underlying trends to emerge.” That’s
Investors Pull Billions From US Stock Funds Despite Rally
Although US equities were off to a roaring start in 2023, it was apparent during
Stocks Under A ‘Micro’scope
It won’t surprise anyone to learn that stocks have been more macro-driven than average over
Why Markets Could Be A Fireworks Show Next Week
The range of possible policy outcomes is expanding in the US. I assume this is
Biden Planning Major New China Investment Curbs
Under intense pressure from lawmakers on both sides of the aisle, the Biden administration is
60/40’s Revenge
Last year was a veritable disaster for pretty much any version of the vaunted 60/40
Disinflation… If You Can Keep It
Party over! US mortgage rates are rising again. I’m just joking. Well, rates did rise
Claims About Jobs
A week later, market participants are still asking questions about an anomalous US jobs report.
Chinese Balloon Part Of Global Military Spy Program: US Officials
The Chinese surveillance balloon Joe Biden shot down last week was part of a global
Half-Empty
It’s hard to know whether to cheer slower consumer credit growth in the world’s largest
AI Frenzy Rekindles Story Stock Mania
It’s a junk rally! Not in high yield (well, there too now that you mention
A ‘Lost Opportunity’
It wasn’t what he said. It was what he didn’t say. Jerome Powell had an
What Kashkari Knows For Sure That Just Ain’t So
Fed officials are uncomfortable with the combination of easier financial conditions and a red-hot US
An Atypical Development
I doubt markets will make much of this, but it was worth noting on Tuesday
Chasing The Price And Forgetting The Fundamentals
I’ve mentioned this on several occasions of late, but it’s worth repeating: Career risk is
Goldman Cuts US Recession Odds To 25%
Goldman was already on the low end of the range when it comes to recession
Rally Music Or Siren Song?
Investors are getting “drawn in.” So said JPMorgan’s Mislav Matejka on Monday. “Drawn in” has
Chinese Aid For Russia Suggests Ukraine Is Deadly Dress Rehearsal
One — perhaps the — key geopolitical question in 2023 is whether Moscow is overplaying
2001, 2015, 2008, 2020 And Right Now
It’s not over yet, but with 70% of S&P 500 market cap having reported earnings,
I’ll Have The Theme Du Jour. With A Side Of Catchy
“Immaculate disinflation” is the macro theme du jour. I suppose to employ it is to
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