For all the celebration (and simultaneous derision) around the Fed’s success in helping to drive
Category: Markets
Optically Decent US PMIs Belie ‘Severe’ Supply Chain Disruptions, Lost Momentum
IHS Markit’s PMIs for the US seemingly ignored the virus surge and associated new lockdowns
Retail Sales Dive As Feared Consumer Retrenchment Becomes Reality
Retail sales, one of the few top-tier economic indicators to stage a quick “V-shaped” recovery
EUR-phoria
The euro was the story prior to the Fed on Wednesday, as the single currency
Harley Bassman Presents: A Model Portfolio – 2021
Come this time every year, I tend to publish a list of “Investments” that I
Cash Is Trash For Hyper-Bullish Fund Managers
Overall, the pile of “dry powder” parked in money market funds remains elevated, but a
Goldman’s Solomon, CNBC Serve Up Ready-Made IPO Bubble Punchlines
It’s not that the punchlines aren’t there. Rather, it’s that the punchlines are so obvious
A Half-Trillion In AUM Is The Second-Most ‘Optimistic’ Ever
With the exception of the post-tax cut melt-up in early 2018, “optimism,” defined as faith
A ‘Big Change’ In Hedging Focus. And Don’t Forget About Tesla
Every box was checked. The worst-case, “science fiction” election outcome didn’t play out, even as
Cooperation And Contacts
Mixed global markets reflected investor reticence Tuesday, as rates traders awaited the Fed and the
China’s Recovery Continued In November. PBoC Surprises With 950 Billion Liquidity Injection
Dust off the boilerplate China recovery copy. The world’s second-largest economy continued to perform in
The Tragic Irony Of America’s ‘Too Big To Fail’ Stock Market
Most of my days are spent digging around for interesting things to highlight, and in
Beware The ‘Post-War Hangover’ From Misguided Government Belt Tightening
What’s the biggest risk to the macroeconomic outlook in 2021 and beyond? To answer that
‘Just Because The Sun Is Out’
Markets looked poised to embrace a risk-on bent to start the new week, emboldened by
Front-Running Collective Irrationality
I have to tell you: What interests me isn’t always what “sells” for the financial
Let Me Off This ‘Wild Ride’: What To Expect From The Fed’s Last Meeting Of 2020
If the Fed wants to unveil plans to extend the average maturity of its ongoing
Yen And The Art Of Bridge Maintenance
For years, critics of central banks’ increasingly belabored efforts to engineer robust growth and “healthy”
‘Some Worry’
“Some worry,” is an industry mainstay when it comes to language the financial media employs
Macro Tourist: ‘This Is A Buying Frenzy. And The Trader In Me Is Worried’
[Editor’s note: The following excerpts are from a longer piece by Kevin Muir, formerly head
Is Buyback Plunge Protection Poised For A 2021 Comeback?
Last weekend, I talked a bit more about equity supply/demand dynamics. The overarching point was
‘Frankenbull’ And Corporate America’s Multi-Trillion Dollar Bonanza
Forget the “everything rally.” That’s not nearly colorful enough as a description of 2020’s various
D.C. Dysfunction & The Lost Art Of Civic Responsibility
Good news: University of Michigan sentiment managed to post what, on the surface anyway, appeared to
Bullish Catalysts And Volatility Suppressants For 2021
Let’s talk bullish catalysts. Or, if you like, we can call them “factors with the
Deal Busters Going Sideways
Risk sentiment soured Friday as market participants weighed stalled stimulus talks in D.C. and the
‘It Took Unprecedented Liquidity Merely To Stabilize Risk’
“It’s all about liquidity.” That’s a popular refrain when it comes to explaining how risk
Hot Takes Galore: Key Macro Thoughts And ‘Good Stuff’ With Nomura’s McElligott
Whatever happens later, the “now” is still under the influence of the same set of
Jobless Claims Surge In Stark Warning To Congress
Jobless claims surged last week, data out Thursday showed. 853,000 Americans filed for unemployment benefits
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