Who’s on gilt watch? Everyone’s hands should be raised. The UK government bond market’s coming
Category: Duly Noted
Cash Cult Keeps Gathering Adherents
If you’re curious, money market funds kicked off the new year with a big inflow.
Risk Of US Stock Drawdown Rises To One In Three
The risk of a meaningful stock pullback’s elevated. You can tell because… well, have you
FOMC Minutes Betray Early Concern Over Tariffs, Deportations
During last month’s press conference, Jerome Powell went out of his way to suggest upward
How Leveraged ETFs Feed The Beast
I’ve spoken at some length recently about the extent to which modern market structure and
US Dominance Of Global Equity Market Reaches Existential Extremes
If your business is stocks, the US is all that matters. As 2025 dawned, the
Stock Bull Out Of Patience With Bond Bear, Wilson Warns
And the most important variable for stock performance in January is — drumroll — rates.
Options Show No Fear Of New Stock Melt-Up
They’re hedging downside, but nobody’s especially concerned about missing the boat on a prospective new
US Money Fund Assets Edge Closer To $7 Trillion
A strong year for money market fund flows was set to go out with a
Risk-Loving Fund Managers May Be Contrarian ‘Sell’ Signal
If a pullback in US stocks is imminent, don’t say you weren’t warned. In contrarian
The $6.75 Trillion Question
It’s been a helluva year for money market funds. With just just seven business days
Just Another Bubble Chart
Everyone loves a good “How expensive is the US stock market?” chart. And God knows
Club Capital
Let’s say you’re an average American. A “normal economic person,” as Jerome Powell once put it.
Systematic Stock-Buying Maxed, VIX Squeeze Potential Builds
You’ve all heard me carry on recently about the potential for more re-leveraging from systematic
No One Dare Question The Stock Party
You’d be hard pressed right now to find a strategist willing to swim against the
US Households See Brighter Financial Future Post-Election
Good news! Americans are feeling great all of a sudden about their personal finances. Ok,
More, More, More: Inflows To US Stocks Continue
Inflows to US equity funds continued over the last week, according to the latest update.
Money Fund Assets Near $7 Trillion On Massive Inflow
Two weeks back, I wondered aloud if we were witnessing the early stages of the
The ‘7 Most Important Factors’ For Stocks Into Year-End
Stop me if you’ve heard this before: This time of year can be kind to
Big Bubbles And ‘Unrealistic Outcomes’
If your aim is to suggest US equities — which notched more new record highs
Inflows To US Stocks Shatter More Records
They were still buying US stocks over the last several days. If you were curious
Stocks Aren’t Out Of Melt-Up Fuel Yet
With all the talk of record (or near record) inflows to US equity funds, and
Structural, Ongoing And Permanent
I’m never sure how much editorial attention to afford the ongoing active-to-passive shift in the
Buy It All
In the humorously titled “MAGAFOMOTINA,” I noted that US equities have surpassed $400 billion of
Commencing ‘Cash Out’?
Has the great “cash out” commenced? No, probably not. But US money market funds did
An Equity Funding Squeeze?
If you want to explain the price of something, a good place to start is
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