The pace of expansion in the US services sector decelerated in July, the preliminary read
Category: Markets
A Quote That Really Ties The Room Together
The Delta variant continued to dominate the news cycle Friday. At least in the very
Smoke-Filled Rooms And Perma-Easing
“We’re informed by past experience,” Christine Lagarde said Thursday, following the unveil of new forward
Albert Edwards: UK To US Virus Comparison ‘Not That Simple’
When SocGen’s Albert Edwards delivers a “trigger warning” (underlined, with an exclamation point in the
Jobless Claims Surge Most Since March
US jobless claims surged last week, as 419,000 Americans filed for unemployment benefits. That was
ECB Adopts Comically Belabored, Three-Part Rates Guidance
Following the bank’s policy review and the adoption of a symmetric inflation target of 2%
Human Nature
Risk sentiment was firm for a third session Thursday, as global stocks aimed for their
In Shifting Vol Landscape, One Thing Never Changes
A persistent theme in these pages is the notion that monetary policy can never be
Charlie McElligott Returns: ‘This Is How Overpositioning Tips Over’
Stability breeds instability. All you need is the proverbial skier’s scream for an avalanche. By
Failing The Test
“The pandemic is a test and the world is failing,” WHO Director General Tedros Adhanom
Pavlov Lives. If Only He Were A Virologist
It feels like I’ve used the word “inauspicious” at least a half-dozen times over the
Quick! Find Some Oriented Strand Board
Single-family housing starts ran at a one million+ annualized rate again in June, data out
Kolanovic, JPMorgan Raise S&P Target, Say Fears ‘Overblown’
An aggressive bond rally and the fading of 2021’s outperformance across various manifestations of the
Selloff Reflections
“Why now?”, a couple of my favorite strategists asked, in the wake of a brutal
Happy Black Monday
Somebody will call it “Black Monday.” And I imagine the producers at CNBC availed themselves
‘Normal’ Is A ‘Funny Concept,’ One Bank Reminds You
“Sell Treasurys and trust the expansion.” So said Morgan Stanley’s Andrew Sheets on July 18.
Party Over?
Risk sentiment was clearly impaired by pandemic concerns to kick off the new week, raising
Define ‘Freedom’
A smattering of headlines lamenting the many ironies of the UK’s “Freedom Day” was a
‘Self-Defeating’ Rate Hikes Could Endanger ‘Agnostic’ Stocks
There’s no longer any point in using words like “disconnected” to describe the relationship between
Bonds And Our Never-Ending Global Health Crisis
Market participants inundated with data and ostensibly meaningful policy banter will get a bit of
Conniving Oracles
We really should stop attributing self-awareness and a sense of purpose to the bond market.
Why Nobody Will Tell You The Truth
Often, by the end of a given week, I’m exhausted with pretensions to concern about
Amid Frantic Dealmaking, Political Storm Clouds Gather
Let’s make a deal. Lots of them. 2021’s first half witnessed the highest volume of
The Bull Case Is Ambiguity
“The bull case is ambiguity,” one popular strategist said this week. I like that characterization
If You Have The Means
Consumer sentiment deteriorated in July, the preliminary read on the University of Michigan’s survey suggested, underscoring
American Shoppers And Free Money For Families
US retail sales were considerably more robust than expected in June, data out Friday showed.
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