Well, it’s official. The Chinese economy expanded in 2020. Or at least according to Beijing it did. A year on from some of the first
Category: Markets
Earnings Season Is Upon Us. But Does Anyone Care?
Earnings season is upon us, but it’s not clear how much the numbers matter. Last summer, many market participants were keen on the idea that
Inside The Bubble
Years ago, an episode of Family Guy (the edgy cartoon sitcom) featured a subplot that revolved around a local news segment called “What Really Grinds
‘Agnostic’ Sellers: The ‘Doom Loop’ During The Pandemic
Name something more potentially dangerous than “a large, fundamentals-agnostic, owner of equities.” Go ahead, I’ll wait. I’m just kidding. There are certainly more dangerous things
2021: A Rotation Odyssey
The pro-cyclical rotation finally came. For years, fleeting bouts of outperformance from perennial laggards (e.g., value shares) proved to be just that — fleeting. It
‘They’
“They know about the stretched valuations and everything that must go right to keep stocks aloft,” read the first line of a piece featured on
Leaving Washington
What a week it was. US equities fell Friday, amid dour retail sales and doubts about how quickly Congress will move to pass Joe Biden’s
A Deadly Cocktail (But The Factories Are Ok)
At least the manufacturing sector is holding up. On a day when retail sales posted a “big league” disappointment, factory production showed a 0.9% rise
Surprise! Retail Sales Are Total Debacle
Late last week, when December payrolls showed the leisure and hospitality industry shed nearly a half million jobs, I suggested the read-through for consumer spending was
What, No Champagne? Markets ‘Remarkably Indifferent’ To $2 Trillion Biden Plan
As soon as Joe Biden finished speaking on Thursday evening (and even before he started), market participants were already fretting about the “uphill battle” his
JPMorgan Beats Helped By Reserve Release, But Dimon Delivers Caveats, Warnings
JPMorgan kicked off earnings season Friday, with Wall Street’s five largest banks on track to log $100 billion in trading revenue for the first year
Why Do We Bother? (No Time Soon)
It’s weeks like this when you wonder why we even bother with markets. Sure, there’s a compelling narrative right now in bond land, where a
Disaster Strikes As Jobless Claims Suddenly Surge To Almost 1 Million
Nearly 1 million Americans filed for unemployment benefits last week, a rather disconcerting development that both underscores the precarious state of the labor market and
Alibaba, Tencent Spared Trump’s Wrath. Xi ‘Hopes’ Starbucks Can Thaw Cold War
Maybe it was just my espresso high (which would be ironic in this case), but I found the following headline carried by Xinhua on Thursday
Of Bonds And Bernie
For the second consecutive day, bonds rallied and a strong auction result suggested the Treasury selloff may have run its course — at least in
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