The sooner elevated energy costs recede, the better. If the war-driven increase in crude and
Category: Markets
‘The Plain Fact’
“The plain fact is that inflation is too high and has been for too long,”
How Crack Spread Reflexivity Kills The Equity Bull Market
Crack. It kills. It’s also a high margin business. Not that I’d know. Currently, crack’s
‘Disorderly’ Bonds Are Biggest Tail Risk As Pros Doubt ‘The House’
“The House” won’t win. Not this time. According to nearly 200 fund managers who participated
G7 Bond Crisis Escalates
G7 sovereign bond yields rose again early Tuesday. “The beatings will continue until morale improves,”
Congrats On 5%, Scott!
Well, it finally happened: 10-year US yields traded with a five-handle on Monday, an “achievement”
BofA ‘Cautious’ On S&P, Sees Pullback Risk
Corporate earnings are robust, there’s no denying that, but strong fundamentals may not be enough
Reformed Bear Not Worried, Calls Inflation ‘Old News’
Don’t worry. Because Mike Wilson’s not. Not worried, I mean. Not about Fed hikes, nor
Warsh To Risk Trump’s Wrath With September Rate Hike
Following Kevin Warsh’s ostensibly hawkish address in Jackson Hole, I wrote that if the market-implied
Weekly: A Turning Point For Treasurys?
Last weekend, I asked if US Treasurys were becoming “uninvestable.” For my trouble, I was
America’s Stock-Rich Score $11 Trillion Windfall During War
American households lucky enough to own stocks and real estate enjoyed a record windfall in
Too Much Crazy: Rates In Open Revolt
Laugh. That’s all you can do. At Donald Trump. And at Scott Bessent. And at
Nip It In The Bud!
“For an extended period.” If you were curious as to how long Europeans will have
The House Always Wins?
Treasury tripled the maximum size of its September 10 bond buyback on Wednesday, following through
Yen As Flashpoint
“When the facts change.” Over and over again since Scott Bessent stepped in to help
September Is Cruelest Month For Stocks. And Bonds
Technically, we’re already several trading sessions into September, but the month doesn’t really “start” for
Bargain Bonds, Bubble Stocks?
Long-end US Treasurys: They’re either a screaming bargain or an uninvestable falling knife. We’ll find
Weekly: Are US Treasurys Becoming Uninvestable?
It’s always darkest before the dawn, as the old saying goes, but I’ll becha you
Trump Gives Warsh Rate-Cut Ultimatum
Dear Kevin: I’d say I feel bad for you, but I don’t. Not even a
Carry Off!
The Bank of Japan got the message. Then they conveyed it to markets. Scott Bessent’s
Waller, Lennon Send Hawks Packing
Chris Waller to the rescue. We’ve seen that before. We’ve also seen the opposite. So
Singing The Bond Blues
It’s all about growth. The bond selloff, I mean. That’s according to NY Fed chief
Buy The Fed Hike?
I’m not buying the Fed hike, figuratively speaking. As Donald Trump reminded Kevin Warsh early
Things Are Getting Interesting Again…
Things are starting to get interesting again. On Tuesday, Eurostat said headline inflation ran 3.3%
Somebody Help The Bonds!
Cue Navin: “They hate these bonds! Stay away from the bonds!” G7 yields moved higher
Long Bond Threatens Breach Of ‘All-Important’ Threshold
Trivia time! That’s what it often comes to during the final days of August, when
Who Wants To Loan The Saudis More Money?
If you’re curious as to whether upside to energy prices from the war is sufficient
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