“The leak in ‘Speculative Frenzy / Unprofitable’ stocks has now accelerated,” Nomura’s Charlie McElligott said
Category: Markets
In Milestone, Jobless Claims Drop Below Pre-Pandemic Record
684,000 Americans filed for unemployment benefits last week, far fewer than expected and, on a
Chinese Tech On The Brink Of Something Bad
Chinese tech is teetering precariously on the brink of something worse than a bear market.
Jagerbombs
In “What Happened To The ‘Stimmy’ Surge?,” I jokingly lamented the apparent lack of follow-through
Price Pressures Boil On ‘Unprecedented’ Supply Chain Trouble
Is the US manufacturing rebound hitting a wall? Probably not, but it’s certainly worth noting
Non Sequiturs From A Crazy World
It’s a crazy world, in case you haven’t noticed. Wednesday offered an eclectic hodgepodge of
Just Kidding
In a highly inauspicious development that seemed to telegraph confusion and frustration at the highest
Buy A Dip, Any Dip
A lackluster session in the US found equities drifting lower into the afternoon following a
What Happened To The ‘Stimmy’ Surge?
Conventional wisdom had it that once the new round of virus relief payments hit bank
US Stocks Are Becoming ‘Less Useful,’ One Bank Says
It’s been “a while” since the imperative to own cyclicality was as strong as it
US New Home Sales Collapsed 18% In February
New home sales printed a sizable miss to consensus for February, adding to evidence that
Kaplan Won’t ‘Get In The Way’ If Market Pushes Yields To 2%
We know where Robert Kaplan stands. In remarks to CNBC Tuesday, Kaplan said he’s “more
All That Matters
Monday was instructive for anyone who still doesn’t understand the dynamic currently governing markets. US
Richest Americans Hide 20% Of Income, Costing You $175 Billion Annually
In “The Wealth Tax And Our Shared Insanity,” I offered a deliberately humorous take on
What Is A Bubble And Are We In One? Goldman Answers
What is a “bubble” and are we in one? Those two questions are a perennial
Nomura’s McElligott: The Curve ‘Has Single-Handedly Told The Tale Of 2021’
If you’re looking to hear the story of 2021 (for markets, I mean) you should
In Turkey: Meltdown
Recep Tayyip Erdogan asked for it, and he got it. Assets in Turkey were besieged
Lucky Number 7
A quick look at the schedule for this week suggests it’ll be a noisy affair,
Bond Bear Spray? One Bank Sees Quarter-Trillion In ‘Pent-Up’ Duration Demand
Between an accumulated rebalancing “miss” in 2020 and equity outperformance during the first quarter of
The Taxman Is Coming. But Stocks Will Worry About That Later
For now, the obsession du jour is still inflation soup. The recipe is a secret.
Larry Summers And Orthodoxy In Its Death Throes
I doubt the utility of dedicating additional space and energy to Larry Summers’s wildly quixotic
Dalio Frets To China About Fed Bond-Buying
Ray Dalio elaborated on the problems facing US macroeconomic policy while speaking Saturday at the
‘We Could See Volatility’: Expiration Of SLR Relief Haunts Strategists
Not everyone is particularly sanguine about the Fed’s decision to allow supplementary leverage ratio exclusions
In Potentially Disastrous Move, Erdogan Fires Another Central Bank Governor
On Thursday, CBT Governor Naci Agbal delighted markets with another rate hike. The 200bps move
‘Get Em’ While They’re Still Hot’
It probably wasn’t a “forecast.” On Friday, a couple of media outlets jumped at the
Zeus’s Catch-22 (Forget The Bonds. Take The Cannoli)
The Fed faces a “Catch-22,” BofA’s Michael Hartnett said, in the latest edition of the
Fed Waters Down SLR Expiration With Allusions To Modifications
After an agonizing delay, the Fed finally made an announcement on supplementary leverage ratio relief.
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