On Saturday morning, I characterized the market as being defined by what amounts to “one
Category: Markets
The Bubble That Never Pops (It’s Been One Trade For Half A Decade)
“We are in a deep recession, yet the stock market has completely blown it off”,
‘Extremely Highly Confident’
“We intend for this package of tariff reductions to mark just the beginning of a
Value(less)
It was only “right” that the week should end with another day of outperformance for
After The Election, Whither King Dollar?
The dollar was on track for a weekly gain Friday, as the greenback rose in
‘Now Booming’: US Economy Gets Good News As Slow Week Grinds To A Close
At least the PMIs are holding up. Following disappointing data out of Europe, where the
In Europe, ‘Fragility’ And ‘Doubt’ Creep Into Data
The European recovery narrative, already under siege from an increasingly disconcerting uptick in coronavirus cases,
Top-Heavy, ‘Trillionaire’ Tech Rally Draws Jeers Ahead Of Big Gamma Roll-Off
Here we go again. It’s probably fair to say that the pro-cyclical rotation witnessed earlier
What’s Next For An Over-Leveraged Corporate America?
Much has been made over the past several months about the impact of massive debt
Certainly, Certainly Not
Two doesn’t make a trend, I suppose, but coming as it does after a miss
Fed Didn’t ‘Exacerbate Moral Hazard’ With Treasury Market ‘Intervention’, Fed Finds
By The New York Fed (via Liberty Street Economics) In response to disorderly market conditions
Jobless Claims Jump Back Above 1 Million In Bitter Disappointment
Last week, initial US jobless claims fell below 1 million for the first time since
Fed Minutes Sketch Contours Of Inflation Framework Change, New Forward Guidance
If the Fed was hoping to stoke inflation expectations as part of a broader effort
$2 Trillin: A Job(s) Well Done
The astounding surge in US stocks from the pandemic lows hit in late March marked
Morgan Stanley Has ‘Good News And Bad News’ On Central Bank ‘Dominance’
Are central banks all that matter? Or, as Nomura’s Charlie McElligott wondered late last month,
Target CEO: Correlation Not Causation When It Comes To Free Money And Shopping
“It’s hard to understand what’s going to happen next week, let alone three or four
Decay, Dollars, And Downward Spiraling Death Stars
There was talk Wednesday of a “trimmed down” stimulus plan in Washington, where Democrats and
‘Two Weeks Of Calm’ And What’s Next For Stocks, Bonds, And Gold
The last two weeks of August will likely witness stabilization in the US rates space
Just When You Thought It Was Safe
New coronavirus cases in Germany jumped the most since April, underscoring fears that Europe is
Going Nuclear.
“[It’s] nothing short of bullying”, Chinese Foreign ministry spokesman Zhao Lijian said Tuesday, responding to
Foreigners Were Buying US Debt Again In June As Apocalypse Abated
Foreign holdings of US Treasurys rose a second month in June, TIC data out Monday
Corporate Debt Binge Shatters Record, As Blue-Chip Borrowers Gorge On Cheap Money
There’s been no let up in demand for corporate debt. And where there’s demand, there’s
Gamma Drop-Off And Rates Back-Up (A Pair Of Risks. Maybe.)
If you’re searching for a reason to fret about US equities perched at record highs
Heavy Is The Head
The dollar is out of favor — perhaps you’ve heard. When it comes to the
Get The Papers
The US kicks off the new week mired in another political crisis. “Alarmingly, across the
World-Beaters
A couple of weeks back, I mentioned that China would likely need to take steps
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