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Category: Markets

Bonds, Consumers Doubt BLS Jobs Narrative With GDP Due

February 15, 2026February 16, 2026

Market participants will find out this week how quickly the world’s largest economy expanded during

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3 Comments on Bonds, Consumers Doubt BLS Jobs Narrative With GDP Due

Weekly: A Wildfire On Wall Street

February 13, 2026February 15, 2026

You wouldn’t know it from the main index levels (“The Dow is over 50,000 dollars!

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19 Comments on Weekly: A Wildfire On Wall Street

Strategist Spots ‘Next Great Market Rotations’ For A ‘New World Order’

February 13, 2026February 15, 2026

It was Walter — not Wayne — Gretzky who coined the maxim, “Skate to where

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15 Comments on Strategist Spots ‘Next Great Market Rotations’ For A ‘New World Order’

Corporate Bond Market Faces Sea Change In Hyper-Scaler Debt Spree

February 12, 2026February 14, 2026

If you own an equity index fund that tracks a cap-weighted, large-cap benchmark which doesn’t

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8 Comments on Corporate Bond Market Faces Sea Change In Hyper-Scaler Debt Spree

‘Stunning’ Stock Dispersion Echoes Lehman, Dot-Com Crash

February 11, 2026February 12, 2026

If it feels to you like a lot’s happening across US equities in 2026 to

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3 Comments on ‘Stunning’ Stock Dispersion Echoes Lehman, Dot-Com Crash

China’s ‘Powerful’ Yuan Quietly Strengthens Amid De-Dollarization Innuendo

February 10, 2026February 11, 2026

Xi Jinping wants a “powerful” currency. Just ask him. He’ll tell you. In January of

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Leave a Comment on China’s ‘Powerful’ Yuan Quietly Strengthens Amid De-Dollarization Innuendo

Is Alphabet’s 100-Year Bond The Bell At The Top?

February 10, 2026February 11, 2026

Maybe the investment grade primary market will eventually balk at absorbing a deluge of big-tech

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4 Comments on Is Alphabet’s 100-Year Bond The Bell At The Top?

The Biggest Buyer Of US Stocks Isn’t Going Away

February 9, 2026February 10, 2026

Given how ubiquitous the hyper-scaler capex debate is in 2026, it’s probably dawned on a

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5 Comments on The Biggest Buyer Of US Stocks Isn’t Going Away

Xi Tells Chinese Banks To Cut US Treasury Exposure

February 9, 2026February 10, 2026

It’s not just Danish pension operators. More often than not in recent years, the de-dollarization

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1 Comment on Xi Tells Chinese Banks To Cut US Treasury Exposure

In Japan, The Stocks Are Happy

February 9, 2026February 10, 2026

Spend it if you got it! Or hell, spend it even if you don’t. Lord

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3 Comments on In Japan, The Stocks Are Happy

Wall Street Thinks Main Street Might Win In 2026

February 7, 2026February 9, 2026

In August of 2020, amid a late-summer melt-up in high-flying US tech stocks (remember “The

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4 Comments on Wall Street Thinks Main Street Might Win In 2026

Big Tech Bets Its Balance Sheet On History’s Most Expensive Moonshot

February 6, 2026February 8, 2026

“Way back” Tuesday, I noted that street forecasts for full-year hyper-scaler spending on the AI

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3 Comments on Big Tech Bets Its Balance Sheet On History’s Most Expensive Moonshot

Fear The Steepener?

February 6, 2026February 7, 2026

Don’t fear the inversion, fear the steepener. Although a bit “inside baseball” vis-à-vis the casual

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Amazon’s $200 Billion Capex Guide May Scare Investors

February 5, 2026February 6, 2026

It was all about AWS when Amazon reported results after the bell on Wall Street

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11 Comments on Amazon’s $200 Billion Capex Guide May Scare Investors

McElligott Has Unified Theory For Bitcoin, SaaS Plunge, Gold Rally

February 5, 2026February 6, 2026

If you’re searching for a unified, Occam’s razor-friendly theory to explain gold’s meteoric rise over

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7 Comments on McElligott Has Unified Theory For Bitcoin, SaaS Plunge, Gold Rally

‘Trustless’ Bitcoin Confronts Another Confidence Crisis

February 5, 2026February 6, 2026

Money, like faith, is the product of the human imagination. — David McWilliams in The

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14 Comments on ‘Trustless’ Bitcoin Confronts Another Confidence Crisis

Alphabet Posts Strong Growth In First Quarter As AI Leader

February 4, 2026February 5, 2026

The stakes were high and, thanks to the company’s furious comeback in the race to

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5 Comments on Alphabet Posts Strong Growth In First Quarter As AI Leader

How AI Went From Tailwind To Headwind For Stocks

February 4, 2026February 5, 2026

Earlier this week, I mentioned that forecasts for hyper-scaler capex in 2026 are up more

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1 Comment on How AI Went From Tailwind To Headwind For Stocks

‘Loan-ageddon’ Looms As SaaS Scare Menaces Private Credit

February 4, 2026February 5, 2026

“Well what the hell are we supposed to do with it?” “I dunno. Should’ve thought

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2 Comments on ‘Loan-ageddon’ Looms As SaaS Scare Menaces Private Credit

Anthropic Threat Sparks ‘SaaSpocalypse’

February 3, 2026February 4, 2026

It won’t be painless. The AI revolution, I mean. I can’t say I’ve consulted the

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12 Comments on Anthropic Threat Sparks ‘SaaSpocalypse’

Tech Still Has An Oracle Problem

February 3, 2026February 4, 2026

Oracle’s down 50% from last year’s vertiginous highs. Did anyone else notice that? I’m not

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14 Comments on Tech Still Has An Oracle Problem

Gold And Silver Are More Meme Stocks Than Money

February 3, 2026February 4, 2026

I’ll say it again: Excessive volatility can negate store of value considerations when it comes

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6 Comments on Gold And Silver Are More Meme Stocks Than Money

Precious Metals Carnage Spills Over, Bleeds Crowded Trades

February 2, 2026February 2, 2026

It got worse for precious metals on Monday if you can believe it. At one

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1 Comment on Precious Metals Carnage Spills Over, Bleeds Crowded Trades

What The Gold Bubble Says About The Nature Of Money

February 1, 2026February 2, 2026

What are the desirable characteristics of money? It’s a straightforward question, and it’s tempting to

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10 Comments on What The Gold Bubble Says About The Nature Of Money

For Gold, Silver: Black Friday

January 30, 2026February 2, 2026

Well, you can’t say they weren’t due for a pullback. By “they” I mean gold

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13 Comments on For Gold, Silver: Black Friday

Two Wild Charts Show Scope Of Gold Frenzy

January 30, 2026February 1, 2026

Gold’s “getting bubbly.” And, along with silver, it’s “nutty overbought.” The quotes are from BofA’s

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2 Comments on Two Wild Charts Show Scope Of Gold Frenzy

Kevin Warsh Wins World’s Worst Job

January 30, 2026February 1, 2026

When Kevin Warsh was last in the running for the big seat at the Fed,

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7 Comments on Kevin Warsh Wins World’s Worst Job

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