Late last week, I called the US economy a Potemkin village and not for the
Category: Markets
How Stocks Could Go From Selling Off To Melting Up
If investors can overcome the psychological albatross that is “pure tariff chaos” and assuming cold-hearted
Weekly: Is Blue Owl The Private Credit Canary?
Four months ago, when a couple of bankruptcies in the auto sector riled regional lenders
If The ‘Smart Money’ Is A Contrarian Indicator, It’s Time To Sell
How much faith do you have in large companies’ capacity to remain exceptionally profitable over
Fed Minutes Suggest Willingness To Hike If Inflation Not Tamed
“Most participants” at 2026’s first FOMC meeting judged that inflation in the US is still
Dispersion Trade ‘Cash-In’ Risks Index Vol Spike
Last week, I highlighted a history-making bout of dispersion across large-cap US equities. Between an
Somebody’s (Badly) Wrong About Software Stocks
With US software stocks down — checks notes — 30% in four months, it’s fair
In Historic Shift, Money Managers Say Companies Are ‘Over-Investing’
The title of this week’s first daily mailer was “How much is too much?” The
$1.5 Trillion In Two Years: AI Spending Forecasts Just Keep Rising
I told you so. Not that you needed to be any sort of seer to
Credit ETF Short Interest Explodes Amid Big-Tech Debt Binge
You don’t have to look very far these days for evidence that banks and investors
‘Magnificent’ Mega-Cap Margins Mask ‘Surging’ C-Suite Expense Angst
How profitable are the largest US companies? That’s kind of a trick question. The answer,
Hedging The Hyper-Spenders
They’re the most creditworthy entities in the history of capitalism. And on many accounts, they’re
Bonds, Consumers Doubt BLS Jobs Narrative With GDP Due
Market participants will find out this week how quickly the world’s largest economy expanded during
Weekly: A Wildfire On Wall Street
You wouldn’t know it from the main index levels (“The Dow is over 50,000 dollars!
Strategist Spots ‘Next Great Market Rotations’ For A ‘New World Order’
It was Walter — not Wayne — Gretzky who coined the maxim, “Skate to where
Corporate Bond Market Faces Sea Change In Hyper-Scaler Debt Spree
If you own an equity index fund that tracks a cap-weighted, large-cap benchmark which doesn’t
‘Stunning’ Stock Dispersion Echoes Lehman, Dot-Com Crash
If it feels to you like a lot’s happening across US equities in 2026 to
China’s ‘Powerful’ Yuan Quietly Strengthens Amid De-Dollarization Innuendo
Xi Jinping wants a “powerful” currency. Just ask him. He’ll tell you. In January of
Is Alphabet’s 100-Year Bond The Bell At The Top?
Maybe the investment grade primary market will eventually balk at absorbing a deluge of big-tech
The Biggest Buyer Of US Stocks Isn’t Going Away
Given how ubiquitous the hyper-scaler capex debate is in 2026, it’s probably dawned on a
Xi Tells Chinese Banks To Cut US Treasury Exposure
It’s not just Danish pension operators. More often than not in recent years, the de-dollarization
In Japan, The Stocks Are Happy
Spend it if you got it! Or hell, spend it even if you don’t. Lord
Wall Street Thinks Main Street Might Win In 2026
In August of 2020, amid a late-summer melt-up in high-flying US tech stocks (remember “The
Big Tech Bets Its Balance Sheet On History’s Most Expensive Moonshot
“Way back” Tuesday, I noted that street forecasts for full-year hyper-scaler spending on the AI
Fear The Steepener?
Don’t fear the inversion, fear the steepener. Although a bit “inside baseball” vis-à-vis the casual
Amazon’s $200 Billion Capex Guide May Scare Investors
It was all about AWS when Amazon reported results after the bell on Wall Street
McElligott Has Unified Theory For Bitcoin, SaaS Plunge, Gold Rally
If you’re searching for a unified, Occam’s razor-friendly theory to explain gold’s meteoric rise over
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