Scott Bessent says the Fed needs to cut rates. He’d know. He and a “Tariff
Category: Markets
Microsoft, Meta Beat Estimates As Big-Tech Sturdy
Microsoft results can be a tough cover. A lot depends on what Amy Hood says
Sooner Or Later, Trump’s Going To Commandeer The Fed
It’s tempting to ignore Donald Trump’s nonsensical ramblings — “malarkey,” to channel a certain senior
Capital Flows To US Assets Dry Up Amid Policy Chaos
Hard stop. That’s what we’re looking at in terms of foreign investor flows to US
The Bonds Don’t Lie
First thing Monday, I not-so-gently chided Scott Bessent for what, in my view anyway, was
Fool’s Gold
Over the weekend, Scott Bessent said a ridiculous thing. He said a lot of ridiculous
The Domino Effect Of De-Anchored Inflation Expectations
The Powell Fed’s in a tough spot. That’s a good early candidate for macro-market understatement
Alphabet Does Enough
To let some analysts tell it, Alphabet’s virtually uninvestable. Pretty much everything to do with
Untethered
Remember when tariff threats were a boon for the dollar, Treasurys were a haven from
History Shows High Tariffs Pose ‘Extreme Danger’ To Corporate Profits
If there’s a silver lining (there’s not), it’s that US corporate profits are extremely elevated
Stock Market Gives Trump Historic Thumbs Down
I love it. I absolutely love it. Wait, that’s not true. And even if it
‘Sell America’: The New Global Consensus
How quickly things change. In January, “US exceptionalism” was the undisputed macro-market consensus. Fast forward
Foreigners With $26 Trillion Of US Assets Fear ‘Institutional Erosion’
This goes without saying — or at least it should — but valuation effects account
Biggest Loser
Boy, the jokes just write themselves, don’t they? The Dow was down more than 1,000
Beleaguered Dollar Hit Again On Trump’s Powell Threat
If Donald Trump wanted a weaker dollar, undermining faith in US assets, and particularly threatening
How The Supreme Court Could Trigger A Financial Meltdown
I hope — really I do — that markets aren’t forced to grapple this year
Slow Bleed
If it feels to you like equities are stuck in the mud after weeks of
ECB Cuts Again As Trade War Supplants Inflation As Top Concern
The ECB cut rates on Thursday, as expected. In the new statement, the Governing Council
Grounds For ‘Termination’
Never a dull moment. Among Donald Trump’s first orders of business on Thursday was menacing
Powell Says Tariffs Push Fed ‘Away From’ Goals. Reasserts Independence
Jerome Powell said words on Wednesday afternoon. Some of them were meaningful. The Trump administration’s
Waiting For A Call
“There’s no difference between China and any other country except they are much larger.” That’s
Love It Or Leave It? Investors Are Choosing The Latter
“Love it or leave it,” as the old saying goes. Increasingly, investors are choosing the
BofA, Citi Wrap Up Another Quarter Of ‘God’s Work’
Big bank results have come and gone, and things went pretty well all things considered.
Tariff Drama Activated Equity Market ‘Doom Loop’
Remember: Volatility and liquidity tend to be inversely correlated. That’s part and parcel of the
‘Insightful’ Goldman Rings Up Huge Stock-Trading Haul
At least somebody benefited from a rocky start to the year for US equities. “Somebody”
The ‘Science Fiction’ Scenario’s Upon Us
What happened to that long bond call, Mike? I’m just kidding. But BofA’s most prominent
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