On Monday, Wall Street’s most prominent bear adopted a relatively constructive take on US equities.
Category: Duly Noted
Inflows To US Stocks Accelerated During S&P’s Summit Push
Four straight weekly gains, four straight weeks of inflows. That was the story for US
Money Fund AUM Rises Further Above $6 Trillion, Nearing Record
US money market funds saw inflows for a fourth consecutive week, pushing total assets further
Next Up, Melt-Up?
The S&P closed above 5,300 for the first time on Wednesday as investors cheered a
When All You Have Are Builders, Everything Looks Like A Hammer
“Higher mortgage rates hammer confidence,” read the headline from Wednesday’s US builder sentiment update. Golf
Fund Managers Most Bullish Since ‘Everything Bubble’
Heavens to Betsy! I almost forgot to mention the May vintage of BofA’s closely-watched Global
Maxed-Out Americans Are Missing Payments
Americans who’ve maxed out their credit cards are starting to miss payments. That’s not particularly
Immigration Surge Alters Treasury Market’s Reaction Function
The keen among you have likely noticed the disparity between recent declines in US yields
Inflows To Stock Funds Accelerate Into Rekindled Rally
US equities responded to a three-week pullback with a three-week rally, pushing the US benchmark
Money Fund AUM Swells Anew With Tax Season Over
With tax season out of the way (I forked over a Hublot Sang Bleu-size chunk
Fleeting Vol Spike Drove $45 Billion In Mechanical Selling
Things were suddenly interesting. And then, just as suddenly, they weren’t again. The fleeting selloff
Erdogan Pulls Plug On Trade With Israel
Israel Katz is indignant. Or irritable. Maybe (probably) both. “This is how a dictator behaves,”
Fed Gets Good News In JOLTS Release, But It’s Not Enough
The Fed caught a rare break ahead of the May FOMC decision when the BLS’s
Closely-Watched Treasury QRA Produces No Real Surprises
The Treasury refunding announcement came and went without apparent incident on Wednesday, when coupons were
Marko Kolanovic Cautions Against Buying Stock Dips
Marko Kolanovic’s not buying it. Last week’s rebound in equities following a three-week swoon, I
‘Demand For Convexity Has Collapsed’
Blink and you missed it. For about a week, market participants showed some interest in
The ‘Dumb Money’ Just Turned Bearish
When you lose the retail crowd… For 23 consecutive weeks, the spread between professed bulls
Escalations And Worst-Case Scenarios
Earlier this week, I trudged through familiar territory in the course of reiterating that equities
Mean Reverting Into Mega-Cap Earnings
Part of me hesitates to say anything that might be construed as “directional” ahead of
Kolanovic Says Inflation, Geopolitical Risks Point To Additional Downside
Equities could stabilize this week, but after that it’s anyone’s guess. That was the message
How Corporate America Will Spend $3.7 Trillion In 2024
Cash! You have some. Now what do you do with it? If you’re a household,
Reserves Plunge, Money Funds Hit With Exodus On Tax Payments
I hesitate to offer a money market fund flows update this week for what I
Netflix Delivers Another Big Subscriber Beat, Will Stop Reporting Key Metric
The bar was high for Netflix headed into Q1 results this week. The stock was
Highest Mortgage Rates Of 2024 May Be Pulling Demand Forward
Earlier this week, while editorializing around what I (maybe hyperbolically, maybe justifiably) described as an
Plunging Cash Levels Sound Alarm For Suddenly Shaky Stock Rally
Don’t look now, but fund manager cash levels are on the brink of triggering a
Bear Spots ‘Classic Crowding Out’ In Juiced-Up US Economy
One of several recurring themes in this year’s notes from Morgan Stanley’s Mike Wilson is
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