“An excellent AI advancement and a perfect example of Test Time Scaling.” That’s DeepSeek, according
Category: Markets
Nvidia’s Half-Trillion DeepSeek Crash Says Singularity’s Upon Us
We talk a lot about the “wealth effect” as it relates to the interplay between
AI Paradigm Shift? McElligott Weighs In On DeepSeek Shock
“I’m not gonna try to play semi- / AI- expert here,” Nomura’s Charlie McElligott said
Will DeepSeek Deep-Six The Mag7?
“More investment does not necessarily lead to more innovation.” The quote’s from quant fund manager
As Stimulus Rally Slips Away, China Resorts To State-Buying
If you’re new to these pages, you might come away suspecting I’m a China-phobe. I
A ‘Monster Vibe Shift’
Don’t look now, but US equities are within shouting distance of record highs, on track
Where To For Stocks? Ask Bonds
What was the biggest takeaway from last week’s post-US CPI price action? Maybe that’s an
As Corporate America’s Interest Burden Collapsed, US Government’s Soared
Much has been made of the C-suite’s falling interest burden, a trend that accelerated in
Why Higher Rates Haven’t Hurt Stocks More
If you’re curious, stocks reacted just as they “should’ve” to the selloff at the long-end
Beaten-Down Bonds Tempt With Huge Return Potential
It was a good week for besieged US government debt. Benchmark US yields dropped around
Money Trees
Wall Street harvested a bumper crop in Q4. The last of the big American banks
It Pays To Be A Bank
Banks. It’s good to be one. Quarterly results from a handful of majors on Wednesday
Every Dove Has Its Day
Markets were absolutely enamored with Wednesday’s inflation report out of the US. Bonds were the
JPMorgan’s Doing Fine, If You Were Wondering
Remember: Volatility’s a boon if your business (or one of your businesses) is facilitating trades.
January Effects
So far, January hasn’t been especially kind to previously-buoyant equities. Global shares are down 1%
Two Key Stock Performance Drivers (And One ‘Quite Depressing’ Chart)
Let’s say you want to explain stock returns and performance. What factors matter? You could
Key Systematic Strats Shed $92 Billion Of Stock Exposure Since FOMC Meeting
Is the stock pullback over? I doubt it, and now that you mention it, I
Why The VIX Space Is ‘Chronically Stressed’
There’s tension in the air across markets. Can you feel it? I’ve talked at some
The Numbers Behind America’s AI Dominance
The “US exceptionalism” theme’s ubiquitous to the point of being a cliché by now. Universal
Stocks’ Bond Problem Grows As Traders Fret Over Fed
Stocks have a bond problem. Maybe you noticed. US equities — and stocks more generally,
The Most Pressing Question(s) On Earth
I’d say there’s no more pressing question than whether the largest US tech companies will
High Bar, Two-Sided Risks: What To Expect From Earnings Season
Reporting season starts next week, and analysts collectively have great expectations for corporate America. Consensus
Worst Of All Possible Worlds?
I don’t know how many market participants had “bear flattener” on their jobs day bingo
Bulls, Bears, Booms And Bonds
As a reminder no one needs, last year marked just the fifth time in a
UK Teeters On Brink Of Second Crisis In Two Years
Liz Truss was in the news Thursday. Apparently, it’s illegal to suggest she crashed the
Time To Catch The Falling Bond Knife?
It might be time to buy the bonds. I don’t know. Not investment advice. Do
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