So far, January hasn’t been especially kind to previously-buoyant equities. Global shares are down 1%
Category: Markets
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
Are The Bonds Broken?
“Die gas pumper!” References to The Jerk are a staple in these pages, even as
‘Welcome To Trump 2.0’: Dollar Whipsaw Is Preview Of Volatility To Come
“Fake news.” That was Donald Trump’s response on Monday to a Washington Post sources story
Burning Bonds
I’ve said it over and over again in recent days and weeks, and I’ll say
Modern Market Minsky Moments
How long does a given market theme have to last before it becomes structural? Put
Liquidity’s Drying Up For Non-US Corporates
I talk (we, all of us, talk) a lot these days about US “exceptionalism.” Once
Musk World
Not a single day goes by when Elon Musk isn’t in the news for something.
Will The Modern Market ‘Virtuous Cycle’ Resume In January?
Remember the post-December FOMC vol shock and correlation spike? If not, don’t fret. That was
2024, Signing Off
The final session of 2024 on Wall Street was, like the handful of sessions before
Where’s My Damn Santa Rally?
Someone check the stocks. They might be unplugged, like so many strands of Christmas lights
Do You Believe In Miracles?
Do you believe in miracles? Maybe you should after this year on Wall Street. 2024
Cash: A Renaissance Tale
A few days ago, while summarizing and otherwise closing the book on another remarkable year
What’s Wrong With The Bonds?
I hope Scott Bessent’s paying attention. The US long end’s on track for its worst
Ring It In
Humanity will ring in a new year in the week ahead. Here’s hoping 2025’s every
King Dollar Reigned In 2024
Remember when Western sanctions on $300 billion of Russian reserve assets ushered in the dawn
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