There’s nothing like inserting a negative macro catalyst into holiday-thinned Friday trading to shake things
Category: Markets
A Lost Decade Looms: ‘Cheap By Proxy Isn’t Actually Cheap’
“Lost decade” warnings are becoming ubiquitous. In some respects, the rationale behind calls for a
Free Stocks For Everyone
In the four-day “week” to November 23, global equity funds logged a small outflow. The
Goldman, Deutsche See Fed Doubling Taper Pace
Over the past week, Fed officials have gone out of their way to socialize the
Fed Is ‘Attentive’ To Your ‘Sizable’ Inflation Burden
If the FOMC minutes hit on a day when no one is around to read
Biden SPR Release Panned As ‘Spectacular Own Goal’
“Underwhelming.” That was one adjective bandied about on Wednesday to describe the impact of the
The Return Of ‘Good News Is Bad News’
The dollar rose Wednesday, extending recent gains following a hodgepodge of US economic data including
Jobless Claims Plunge To 1969 Levels ‘Due Entirely To Distortions’
US jobless claims plunged last week to the lowest in more than 50 years, data
Is Germany Headed For Recession?
In Germany, where, according to health minister Jens Spahn, “pretty much everyone” will be vaccinated
‘Acceptance Of The Unthinkable’
It’s almost always possible to suggest that some asset, somewhere is a bubble. That simple
How Powell’s Renomination Created ‘Liquidation’ Optic In Tech
“Deliciously weird.” That’s how Nomura’s Charlie McElligott described the under-the-hood price action in equities to
Biden Seizes Chance To ‘Look Presidential’ With SPR Release
The US is tapping the Strategic Petroleum Reserve, The White House said Tuesday, confirming weeks
Lira Collapses As Erdogan Flirts With Outright Calamity
“We know quite well what we’re doing with the current policy, why we’re doing it
Marko Kolanovic Asks ‘How Cheap Is Oil?’
For the past couple of months, the Biden administration has been at pains to articulate
When ‘Goldilocks’ Isn’t ‘Just Right’
Cognitive dissonance doesn’t have to be distressing, although it often is. You can harbor inconsistent
Biden, Radical Leftist, Sticks With GOP Investment Banker At Fed
Don’t shake anything up, Joe, it might be too risky. America’s left-wing radical commander-in-chief threw
Thanksgiving Week Promises Data Feast, Biden Fed Pick
Market participants in the US will take a day off this week to gorge themselves
Bet On The Fed, Not The Macro
“Confusing.” That’s as good a description as any when it comes to assessing US rates,
Wall Street Has Almost Never Been This Pessimistic
We’re now seven weeks into the fourth quarter and US equities have gained in six
Don’t Forget About The Plague
“10-year US real rates are now -4.6%,” BofA’s Michael Hartnett wrote, in the latest installment
Front-Running ‘Semi-Predictable Volatility Storms’
Over the course of 2021, the notion that OpEx is associated with vol expansions and
The Final Decoupling: Markets Achieve ‘Autonomy’ From Fundamentals
When BofA asked the 350 panelists who participated in the November edition of the bank’s
Another Quick Word On The Market’s Tech Addiction
Earlier this week, in “The ‘Greatest Risk’ To The ‘GAMMA’ Stocks,” I mentioned SocGen’s Albert
In Turkey, ‘History Is Now Going In Reverse’
You can have your theories, but Turkey’s Recep Tayyip Erdogan “cannot be on the same
Firms See Long-Run Inflation Running Far Above Fed Target
If you’re inclined to extrapolate from regional Fed surveys, the US economy is still running
A Straight Horizontal Line
In a wonderfully ridiculous example of fitting a narrative to a given day’s price action,
In ‘Dreamland,’ Nobody Knows Anything
To the extent they’ve succumbed to avarice, market participants could use “a little bit more
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