Five-year breakevens hit 15-year wides Monday, as rising commodity prices, jitters tied to the Colonial
Category: Markets
Gods On The Moon
Geometric Energy Corporation is “transforming civilization,” according to its website. It’s also going to the
Can’t-Lose Thinking
With the dollar coming off its worst week since December (figure below) and market participants
The Growth Religion And Big Tech Exceptionalism
A persistent theme in these pages is the notion that being overweight America’s tech titans
And Miles To Go Before We Hike
In a parallel universe where the latest US jobs report showed the world’s largest economy
The One Thing Stocks Can’t ‘Live With’
“No matter what, we’ve seen the market predominantly go up, not down,” one PM and
Just Two Words: ‘Inflation’ And ‘Buybacks’
If you were wondering what corporate management teams discussed on calls during reporting season… Wait,
Less Is More
The Trump administration had Larry Kudlow and Steve Mnuchin. Joe Biden has Janet Yellen. All
Royale With Cheese
Although Friday’s jobs miss may help growth stocks stabilize in the near-term, recent weakness in
25 Sayings On Vol And Risk
“Pithy Principles for Modern Markets,” via Macro Risk Advisors 1. Big moves matter most The
An Offer They Can’t Refuse
“Today’s jobs report is just an example of [how] we have a long way to
A Staggering Miss: April Jobs Report Is Huge Letdown
The US economy added just 266,000 jobs last month, April’s hotly-anticipated nonfarm payrolls report showed.
‘So-Called’ Bubbles
“Asset prices may be vulnerable to significant declines,” the Fed reckoned, in its semi-annual financial
The Stories We Tell
Everybody has a story. In general, but especially when it comes to explaining their own
Complications, Froth And The Jackson Hole Whale
“Severe complications.” Those were the words a spokeswoman for the German government used Thursday to
Tickets And Rents
Assuming Americans exercise a modicum of common sense, COVID-19 cases are projected to see a
Marko Kolanovic: Most Portfolios Are Vulnerable To ‘Inflation Shock’
“If one stretches rubber too long, it eventually snaps,” JPMorgan’s Marko Kolanovic wrote Wednesday, in
‘Inflationary Pressures By No Means Confined To Manufacturing’
Like its manufacturing counterpart, ISM services missed expectations for April. At 62.7, the headline was
Joke’s On You
Don’t say you weren’t handed a dip to buy. Or a falling knife to catch.
Beautiful Bombast
Oh, the bombast! The wonderful, wonderful bombast. Selling “gripped” US equities on Tuesday. Tech shares
Buy Any Dip (Is What They’re Saying)
If you see a dip, buy it. That’s one takeaway from JPMorgan’s Mislav Matejka, who
Street Level
If you had any doubts as to whether the demonstrable economic progress the US has
Price Pressures, Price Pressures, Price Pressures
In a somewhat unexpected turn for an economy hitting on all cylinders, ISM manufacturing posted
More Than A Sugar High
US equities came into May looking to build on last month’s gains, propelled by a
Bubble Tales
Last week, I conceded that the US housing market is probably a bubble. “Conceded” not
Ray Dalio And The Biden = Roosevelt Analogue
Admittedly, I have a difficult time editorializing around Ray Dalio’s missives these days. Ray seemingly
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