Ask European fund managers what keeps them up at night and you might hear: “A bubble on Wall Street.” That’s according to the January vintage
Category: Markets
Goldman Releases Quarterly Compendium Of Large Numbers
In news that probably won’t surprise anyone, Goldman easily beat estimates Tuesday when the firm reported fourth quarter results. Revenue of $11.74 billion was up
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 following results from JPMorgan, Citi, and the lowly Wells Fargo,
Return Of The Queen
Risk sentiment was generally buoyant Tuesday, as market participants watched Janet Yellen make the case to US lawmakers for nearly $2 trillion in additional fiscal
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” trade. [Editor’s note: The following excerpts are from a longer
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 she’ll tell lawmakers this week as she prepares to take
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 Biden’s inauguration revolves around the notion that Trump wants to
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 summer, many market participants were keen on the idea that
Inside The Bubble
Years ago, an episode of Family Guy (the edgy cartoon sitcom) featured a subplot that revolved around a local news segment called “What Really Grinds
‘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 wait. I’m just kidding. There are certainly more dangerous things
2021: A Rotation Odyssey
The pro-cyclical rotation finally came. For years, fleeting bouts of outperformance from perennial laggards (e.g., value shares) proved to be just that — fleeting. It
‘They’
“They know about the stretched valuations and everything that must go right to keep stocks aloft,” read the first line of a piece featured on
Leaving Washington
What a week it was. US equities fell Friday, amid dour retail sales and doubts about how quickly Congress will move to pass Joe Biden’s
A Deadly Cocktail (But The Factories Are Ok)
At least the manufacturing sector is holding up. On a day when retail sales posted a “big league” disappointment, factory production showed a 0.9% rise
Surprise! Retail Sales Are Total Debacle
Late last week, when December payrolls showed the leisure and hospitality industry shed nearly a half million jobs, I suggested the read-through for consumer spending was
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