A day after data showed housing starts and permits rose to the highest since the
Category: Markets
Hot PMI Headlines Belie Onset Of Stagflation
Well, if you go by PMIs (a questionable proposition), the US economy continued to press
Washington Is Creating A Wall Street Bubble, One Bank Suggests
“DC’s policy bubble [is] fueling Wall Street’s asset bubble,” BofA’s Michael Hartnett wrote, in the
Is The Reflation Trade Facing A Wile E. Coyote Moment?
For markets, some trepidation crept in as the curtain closed on Inauguration Week in the
Bitcoin (Allegedly) Suffers Glitch In The Matrix
Earlier this month, Bitcoin collapsed by more than 20% in the space of 48 hours,
The Houses Are Fine (Flaming Marshmallow)
It wasn’t all bad news on the economic front in the US Thursday although, as
Here’s An Idea: Put People To Work & Print Money To Pay Them
900,000 Americans filed for unemployment benefits last week. Believe it or not, that was actually
ECB Confronts ‘Revelation’ Of Spread Targeting ‘Policy’ Amid Pandemic Response
The ECB came into its first meeting of 2021 under the shadow of renewed lockdowns
Great Expectations
Joe Biden assumes the presidency with a daunting task vis-à-vis markets or, perhaps vis-à-vis markets’
Stocks’ ‘Surrogate Buy Flow’ Could Reach $96 Billion, Nomura’s McElligott Says
US equities are getting a helping hand from a familiar place. “Systematic Vol Control is
Morgan Stanley Had A ‘Very Strong,’ ‘Excellent’ Year. How About You?
Morgan Stanley starts 2021 with “significant momentum,” James Gorman said Wednesday, as the bank released
‘Act Big’ (Tequila In The Blender)
Janet Yellen had no trouble with her confirmation hearing on Capitol Hill Tuesday. I imagine
‘Correction Imminent’: BofA Survey Suggests Sentiment Overshoot
All in, apparently. 73% of investors who answered the “early-cycle” versus “recession” question in the
Here’s The Reality Of ‘Bubbles’
Ask European fund managers what keeps them up at night and you might hear: “A
Goldman Releases Quarterly Compendium Of Large Numbers
In news that probably won’t surprise anyone, Goldman easily beat estimates Tuesday when the firm
Bank Of America Slashes Reserve, But Misses On Multiple Fronts
Bank shares came off the US holiday nursing the wounds from a steep, late-week selloff
Return Of The Queen
Risk sentiment was generally buoyant Tuesday, as market participants watched Janet Yellen make the case
One Pro Reveals His ‘Just To Get Myself Into Trouble’ Trade
This is my “buying a hedge in another market just to get myself into trouble”
As Yellen Takes Treasury Reins, Dollar Bears Emboldened
Janet Yellen isn’t going to pursue a weak dollar policy. Or at least that’s what
With Trade War Lost, Trump Throws Last Punch In China Fight
The consensus narrative around the Trump administration’s final push to squeeze Beijing ahead of Joe
Earnings Season Is Upon Us. But Does Anyone Care?
Earnings season is upon us, but it’s not clear how much the numbers matter. Last
Inside The Bubble
Years ago, an episode of Family Guy (the edgy cartoon sitcom) featured a subplot that
‘Agnostic’ Sellers: The ‘Doom Loop’ During The Pandemic
Name something more potentially dangerous than “a large, fundamentals-agnostic, owner of equities.” Go ahead, I’ll
2021: A Rotation Odyssey
The pro-cyclical rotation finally came. For years, fleeting bouts of outperformance from perennial laggards (e.g.,
Leaving Washington
What a week it was. US equities fell Friday, amid dour retail sales and doubts
A Deadly Cocktail (But The Factories Are Ok)
At least the manufacturing sector is holding up. On a day when retail sales posted
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