Do you believe we’ve “crossed the Rubicon” where that means policymakers are increasingly inclined to
Category: Markets
High Energy
If you were already bullish on oil and maintained a bullish bias headed into this
Are We Entering A Global Tech Bear Market?
Tech shares globally are teetering. The rise in yields (especially in the US) has undercut
One Year Later, Jobless Claims Stuck Above Pre-Pandemic Record
745,000 Americans filed for unemployment benefits last week, underscoring the ongoing trials and tribulations of
Bad Liquor
“Many investors who once called themselves fans of Zhang, began to raise questions and engage
‘Significant Concern’ Creeps Into Services Sector As Prices Soar
As expected, price pressures were evident in the February vintage of ISM services. The prices
Even If Everyone Spends All Their ‘Extra’ Money…
In the US, some folks (with Larry Summers being perhaps the most famous, and certainly
ADP Offers Disappointing Read On Hobbled US Labor Market
Private US firms added 117,000 jobs in February, ADP said Wednesday. I suppose this goes
The Wealth Tax And Our Shared Insanity
I’d describe my life as a largely stress-free endeavor. Attaining serenity wasn’t easy. At first,
Give Up, Barbarian. I’ve Got A Printing Press.
I’d be remiss not to point out how explicit the language from central banks is
Like A Lion
“March came in like a proverbial lion,” Bloomberg’s Laura Cooper wrote Tuesday. “Sure, a Chinese
Guo’s Bubbles
Tuesday’s word was “bubble” or, actually, “bubbles,” plural. Guo Shuqing, chairman of the China Banking
$1 Trillion In Credit Losses And Dead Reefs
“Based on this method, the sectors whose activity contracts the most suffer the largest increases
‘This May Not Be Sustainable’: Factory Surveys Show Acute Price Pressures
In the first of this week’s marquee data in the US, ISM manufacturing handily topped
Three Things That Can ‘Make It All Go Right Again’
How do things calm down? That’s the main question on traders’ minds this week. The
Hope Floats, Skepticism Lingers
Risk sentiment improved as February gave way to March. Global equities were higher, marking a
Where To Now?
Markets started the week in “what now?” mode, as traders nervously eyed bond yields for
Don’t Be A Hero Without The Fed
Some were “undaunted” by the second week of losses for US equities, which finally seemed
Vigilante Attack And The Lost Labor Market
Traders will stare down a deluge of data and a bevy of Fed speakers in
Yields ‘Emphatically Not’ High Enough To Threaten Stock Valuations: Goldman
For as long as I can remember (which, admittedly, isn’t usually very long given that
Free Money And What To Do With It
$1,400 stimulus checks are coming. That’s good news for the 10 million Americans who had
Stimulus And The Tyranny Of ‘Practicality’
The House passed Joe Biden’s $1.9 trillion virus relief bill early Saturday. It was not
Bon(d)fire And The Great Wage Debate
US markets calmed down a bit Friday as gloved traders and investors sifted through the
Let’s Tell A Risk Parity Ghost Story
The equity rally is the greatest-of-all-time, the V-shaped macro recovery is the greatest-of-all-time, [and] the
The Bond Tantrum Canaries
A while back — and I endeavored to find the relevant articles Friday morning, but
Here’s What Stimulus Did For Incomes In January
Given the backdrop, it was doubtful that market participants were inclined to read too much
In Bond Tantrum, Markets Argue For Their Own Extinction
“So much of the rally in equities was built on easy money,” Bloomberg’s Eddie van
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