The post-Fed trade was somewhat chaotic, but one familiar theme was easy enough to discern: The long-end rallied and so did big-cap tech. Treasurys bull-flattened
Category: Markets
Wapner, Cramer Receive Divine Tepper Revelation On Live Television
Don’t worry everybody, the stock market will probably be fine despite an upward shift in the placement of a dot on a piece of digital
Lehman Trader Learns First Rule Of Dramatized Market Commentary
It’ll be difficult to escape hawkish Fed interpretations over the next week or so. Take former Lehman trader Mark Cudmore, for example. In a short
FAIT Accompli
Admittedly, I found it difficult to get totally behind the notion that the June FOMC marked some kind of watershed moment. Jerome Powell certainly didn’t describe
Jobless Claims Surge, Philly Prices Highest Since Horse And Buggy
412,000 Americans filed for unemployment benefits last week, far more than expected. Out of nearly four-dozen economists polled, no one predicted a headline initial claims
Pay No Attention To These Projections
“These projections do not represent a committee decision or a plan,” Jerome Powell said Wednesday, during his post-FOMC chat with reporters. The new dot plot,
Fed Signals Two Hikes By End Of 2023
“Inflation has risen, largely reflecting transitory factors,” the Fed said Wednesday, in a June policy statement that contained few surprises. The dot plot now tips
McElligott: Op-Ex Is ‘Huge Thing’
That nearly three quarters of respondents polled in the June vintage of BofA’s monthly fund manager survey described inflation as “transitory” (versus “permanent”) is evidence
Bubble Watching In US Housing
Housing starts rose in May, but missed estimates on the heels of April’s lackluster showing. Starts logged a 1.572 million annual rate (figure below), short
China’s Recovery Is Rolling Over
All the usual questions lingered ahead of the June Fed meeting. The balance of evidence suggests the world’s largest economy may have hit “peak” growth
Tell Me Again About Your Models
Despite (and often because of), my overtly pessimistic take on the plight of humanity, I find occasion to laugh more often than I probably should
The Economic Question Of Our Time
Have we entered a “high inflation regime”? At this point, asking that question feels like Bill Murray’s Phil Connors finally losing his patience while reading
As ‘K-Shaped’ Inflation Fears Worsen, $650 Billion Says It’s Transitory
You may not be buying the Fed’s “transitory” characterization of inflation, but nearly three quarters of investors polled for the June vintage of BofA’s closely
A Depressing Conjuncture That Will Change No Minds
In what may well be further evidence to support the view that the US economy is already cooling, retail sales for May missed estimates by
Counting Days While Waiting On Nothing
Traders were “unruffled” Tuesday, ahead of the Fed and key data. That was Bloomberg’s adjective. This is the time of year when journalists have very
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