Contract activity in the beleaguered US housing market slipped in June, partially reversing the prior
Category: Duly Noted
Time To Hedge?
The S&P came into Tuesday having gone 16 straight sessions without an up or down
Don’t Hate The Players, Just The Game
Don’t hate the player, hate the game. Like most pithy maxims, that old adage prescribes
What A Weak Dollar Means For Corporate Bottom Lines
These are the sessions — hot summer sessions when everybody who’s anybody is on vacation
What’s The Bet?
It’ll all work out ok in the end. That’s how US equities — which powered
Nihilists, Dude
Much has been made of the idea that retail investors comprise a bigger share of
Impugn The Imputation?
If the question’s whether we can trust the inflation data, the answer is, was and
And The Most Crowded Trade Is…
Quick: What’s the most crowded trade on the planet? This is an easy one. You
Margin Risk, Not Valuations, Is Biggest Source Of Stock Uncertainty
One argument against the idea that Donald Trump’s tariffs will manifest in higher consumer prices
‘Too Late’?
I’m not much for stating the self-evident. It seems like a waste of time. Mine
Market Breadth Warnings Are Back
We’re back to fretting over market breadth. It’s an all-too-familiar concern for US equities, and
As America Hits ‘Debt Wall,’ Get Ready For Shorter Cycles
What happens to business cycles when fiscal policy’s constrained such that it can’t act as
Foreigners Are Still Saying ‘No Thank You’ To US Stocks, Bonds
In “US Equity Flows: Robust Or Sputtering?” I recapped H1 equity fund flows on the
A Quarter To Remember
Here’s hoping you bought the dip. US equities on Monday closed out Q2 with a
Miki Delivers
Miki Bowman’s paying off for Wall Street already. Just weeks after assuming a role which
Could The Fed Surprise With A July ‘Insurance’ Cut?
As discussed here on Tuesday morning, I think the odds of a Fed cut at
Risky Business
Donald Trump’s a risky proposition. Just in general, but particularly as President of the United
Max Madman Theory
On June 18, The Daily Beast ran a pretty funny headline: “Trump Boasts ‘Nobody Knows
Pray For The Profits
Are you sure? Not enough US voters asked themselves that question on November 5, 2024,
What History Says About Stocks And Geopolitical Shocks
In the latest Weekly, I argued that even if the 2025 Israel-Iran war lives up
Claims Canary
I’m always cautious about declaring a turning point for US jobless claims. Each and every
‘Monetary Malpractice’
Unfortunately, JD Vance is weighing in on US monetary policy now too. “Too” meaning in
Are Global Equities Overbought?
Are global stocks overbought? You’d be forgiven for asking, wouldn’t you? After all, the world’s
A $34 Billion Breakup
$34 billion. That was the damage for Elon Musk when the closing bell sounded on
Bonds, CPI Collection And Columbia
The good news about bad data is that if it’s bad enough, it can spell
Why One Bank Expects The Dollar Bear Market To Deepen
The dollar’s headed lower, particularly against other havens, including the yen, franc and euro. That’s
Do Foreign Investors Really Have ‘Too Much’ US Exposure?
There’s still no consensus on whether and to what extent Donald Trump’s policies — from
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