A couple of days ago, over a french press (mine) and a Mich Ultra (his)
Category: Markets
Stop Me If You’ve Heard This Before
Markets, and particularly equities, built in “great expectations” over a five-month rally that found global
Goldman: S&P Could Soar To 6,000 This Year. Or Dive To 4,500
The S&P hit Goldman’s year-end target last week. So, nine months early. The (very short)
Cash For Stocks!
One of the pressing questions headed into 2024 was this: What’ll become of the $6
The ‘DNA’ Of The ‘New Everything Bull’
Global equities were on track for their best week of 2024 and it was no
SocGen’s Kabra Dethrones Subramanian As Wall Street’s Biggest Bull
Move over, Savita. For nearly a month, BofA’s 5,400 year-end target for the S&P counted
Global Dovish Pivot Takes Shape As SNB Cuts, BOE Hawks Give Up
The SNB’s not waiting around. Switzerland became the first G10 country to cut rates in
Bumpy Road
The Fed will almost surely cut rates “at some point this year,” Jerome Powell told
Convoluted Fed SEP Tips Three 2024 Cuts, Higher Core Inflation, Higher Neutral
The Fed kept rates on hold Wednesday. Obviously. I say “obviously,” but it’s worth recalling
Kolanovic Warns On ‘Straight Line’ Risk Rally
If you’re curious, JPMorgan’s Marko Kolanovic still harbors reservations about the risk-asset rally. “Global equities
Risk Appetite Highest Since ‘Everything Bubble,’ Key Poll Shows
One of 2024’s defining characteristics so far is a discernible similarity between the market environment
History Made As Japan Hikes Rates, Drops YCC, Ends ETF-Buying
Remember this day. March 19, 2024, will be enshrined in the annals of monetary policy
Stock Bear Has Bonds On His Mind
Mike Wilson’s an equities guy, but he has bonds on his mind this week. As
What To Expect From The March FOMC Meeting
As a practical matter, it doesn’t make much difference whether the Fed tips two or
Inside The Bubble
I don’t want to suggest Wall Street strategists are engaged in an effort to “explain
US Stock Funds Shatter Inflow Record In Latest Mania Marker
Blow-off top, blow-off equity flows? That’s one interpretation of the latest fund flows update, which
Are Investors Ditching Gold To Buy Bitcoin?
Gold recently hit a record high. So did Bitcoin. Which to own? Decisions, decisions. One’s
Why Stocks No Longer Care How Many Times The Fed Cuts Rates
Of all the purportedly puzzling dynamics bedeviling market participants in their belabored efforts to makes
Yellen, Neutral, MicroStrategy And Bitcoin
Janet Yellen said something interesting this week. “It seems unlikely that yields are going to
There’s A Bear In The Office
“So, welcome aboard! Oh, and by the way: You’re not going to convince Albert. Don’t
Corporate Debt Boom Blows Up Another Bear Narrative
Remember the maturity wall panic? That was another bear narrative popularized in 2022 and 2023.
Charlie McElligott’s Unified Theory Of Everything
If you’re wondering why the risk-asset rally feels inexorable on most days — why the
Markets And The People Who Forecast Them
For what it’s worth — which could be a lot if the last several months
Did You Hear? The Short Vol Trade’s Back
The short vol trade’s back. Did you hear? You did?! That must mean you’re a
One Bear, Two Words
“Ambiguity.” It’s pervasive. So said Morgan Stanley’s Mike Wilson on Monday, describing the macro-market backdrop.
Is The BoJ About To Spoil Japan’s Record-Setting Stock Rally?
Japanese equities have had a good run. And that’s an understatement. An entire generation of
‘Magnificent 7’ Performance Has Never Been This Uneven
Market commentary often treats the so-called “Magnificent 7” as a monolith. This year, it’s anything
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