I hesitate to weigh in on the near-term trajectory of… well, of anything, really. Tomorrow’s
Category: Markets
The Bullish Side Of Unprecedented Trade Uncertainty
If you’re searching for a silver lining in the dense fog of uncertainty hanging over
Long-Bond Drama Reignites 60/40 Debate
There’s no shortage of handwringing over the dollar’s recent decoupling from Treasury yields. As discussed
Are Investors Abandoning US Stocks?
Are investors abandoning US equities? No. Yes. Maybe? It’s not a straightforward question. Answering it’s
‘Hot’ America
We’re in month six of 2025, which is to say nearly halfway through the year.
Rocket Fuel And Melodrama
It never stops. The soap opera never stops in Donald Trump’s America. Every, single day
ECB Declares Inflation Victory, Cuts Eighth Time
The ECB all but declared victory over inflation on Thursday, when Christine Lagarde — who
Will Scott Bessent Have To Cut The Coupons?
I wouldn’t describe it as “consensus,” or not yet anyway, but calls for Scott Bessent
Is Corporate America A Safer Bet Than The US Government?
This should go without saying, but US equities still aren’t cheap. I don’t know why
When All Other Plunge Protection Fails…
Listen, if Scott Bessent can’t find anyone to buy America’s debt, he can just cajole
Move Fast And Break The Bonds
New week, same concerns. The bear steepener was back in the Treasury curve, the dollar
Trading The Tariff Range
In addition to top-tier US macro data, traders will be compelled to grapple in the
Capital Wars Are Here
Foreign investors didn’t need another reason to be skeptical of US assets. Militant mercantilism, policy
Game Of Chicken (The Trump Collar Explained)
Legendary fast food connoisseur Donald Trump doesn’t like the “TACO”s. A fixture of Trump’s tariff
TACO Stall
The world’s two largest economies might’ve made “great progress,” as Donald Trump put it, towards
At The President’s Invitation
“Donnie, I got sent for.” On Thursday, the Fed casually announced that Jerome Powell was
Huang Praises The Revolution As Nvidia Results Clouded By China Curbs
Nvidia — maybe you’ve heard of it — beat on the top-line in results released
17 Times The Uncertainty
The word “uncertainty” came up 17 times in the May FOMC minutes, released on Wednesday
Is US Tech Still Magnificent?
As Nvidia readied its quarterly results, analysts and strategists were torn on whether investors should
Are Developed Markets The New Banana Republics?
Implicit in pervasive hand-wringing over the recent sharp rise in long-end bond yields across advanced
In Japan, Myth Maintenance
Markets stop panicking when policymakers start. I don’t know if the news out of Japan
A Global ‘Losing The Long-End’ Moment?
Is the developed world staring down a fiscal crisis and a potential implosion of sundry
Who Wants To Loan ‘The King Of Debt’ Some Money?
This week was all about bonds, and specifically US Treasurys. Although the US long-end managed
Trump Again Demands Apple Make iPhones In America
Maybe the iPhones aren’t safe after all. Donald Trump put a damper on Friday’s pre-Memorial
Long Bond, Long Face
I don’t want to say Scott Bessent’s lost the US long-end, because that’s a little
‘The Single Most Important’ De-Dollarization Canary
The writing’s on the wall. You just have to be able to read Japanese. If
No Respite From The ‘Sell America’ Trade
The “sell America” trade (or narrative or whatever you want to call it) is bleeding
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