Tech Wars, Great Debasements, And A $2.4 Trillion ‘Non-Starter’
A July jobs report billed ahead of time as a potential game-changer for a market desperately searching for something definitiveContinue Reading
Category: Markets
These Markets Are Nihilists, Donny.
No, Donny, these men are nihilists. There’s nothing to be afraid of. —Walter Sobchak “Nothing matters but liquidity”, BofA’s Michael Hartnett writes, describing what heContinue Reading
July Jobs Report Raises Questions, But Answers Aren’t Forthcoming
The July jobs report (which beat expectations, ostensibly suggesting reinstated virus containment measures across some large US states weren’t asContinue Reading
US Labor Market Defies Skeptics As Jobs Report Again Beats Expectations
“You can’t use a model for this”, Morgan Stanley’s Chief US Economist, Ellen Zentner, sighed on Friday morning, describing theContinue Reading
‘Shocked’
“We are shocked by the recent Executive Order, which was issued without any due process”, TikTok said, in a blogContinue Reading
Trump Makes TikTok Ban Official, Takes Aim At WeChat, Tencent In Latest Broadside
Donald Trump made it official on Thursday evening. He signed an executive order aimed at compelling ByteDance to divest TikTok,Continue Reading
‘Working Fine Right Now’
(Updates with comments from Pelosi, Schumer, Meadows, Mnuchin after latest negotiations) In an attempt to prove to voters he’s notContinue Reading
Americans’ Credit Card Balances Just Plunged By A Record $76 Billion
Credit card balances for US households plunged by the most on record in the second quarter, The New York FedContinue Reading
Turkey Plunges Into (Another) Currency Crisis. Is Anyone Surprised?
Turkey is in trouble — again. At fairly regular intervals, the country finds itself teetering precariously on the brink ofContinue Reading
Is This Time Different? Goldman Says ‘Early Vaccine’ May Change Market Zeitgeist
Things are going to look a lot different three months from now. That’s the message from Goldman, whose Kamakshya TrivediContinue Reading
Jobless Claims Fall To Lowest Of Pandemic In Welcome News
On the heels of an ostensibly foreboding ADP employment report, and just a day ahead of July payrolls, the USContinue Reading
Guesswork: BOE As A Microcosm Of The Global Policymaker Dilemma
The BOE kept rates unchanged at a record low 0.1% Thursday and promised it won’t tighten policy “until there isContinue Reading
Nomura’s McElligott Delivers The ‘Contrarian View’ On Surging M2 Money Supply
Generally speaking, the market doesn’t have much faith in the reflation narrative and hasn’t for quite some time. Indeed, theContinue Reading
‘That’s A Record’: US Terms Out Massive Financing Need With Scope Of New Stimulus Uncertain
The US announced a record $112 billion quarterly refunding on Wednesday, a total that eclipsed the majority of dealer estimates.Continue Reading
Biggest Miss In ADP History Sounds Alarm On US Labor Market
The July jobs report is a giant question mark. It won’t capture the most recent deterioration in the labor market,Continue Reading