It’s official (almost): The US corporate earnings recession is over (with 89% of index market
Category: Markets
McElligott Explains How ICBC Hack Might’ve Impacted Long Bond Sale
As the keen among you have surely surmised by now, the optically awful 30-year sale
Goldman Unveils Top Global Investment Themes For 2024
Earlier this week, Goldman unveiled their macro outlook for 2024. Suffice to say the bank’s
Powell Reiterates Fed ‘Not Confident’ Rates Are High Enough
Headed into Jerome Powell’s speaking engagement on Thursday, some market observers (myself among them) suggested
Déjà Vu Strikes In Rough Long Bond Sale
A tail at Thursday’s 30-year auction was all but a foregone conclusion. The long bond
For Bears, Another Frustrating Turn
It’s been a frustrating year for equity bears. The earnings recession was supposed to be
Treasury Rally Survives Week’s Key Event Risk
All eyes were on bonds this week following the sharp rally which turned November’s first
Rally Risks
“The stocks” are probably due for a breather. US shares came into Jerome Powell’s speaking
Into And Out Of The New ‘Everything Rally’
On the heels of an exceedingly unfortunate three months during which both equities and bonds
US Small-Caps Celebrate Miserable Milestone In Never-Ending Selloff
Small-caps outperformed during last week’s raucous US equity rally, but that’s where the good news
Mike Wilson Not Impressed By Stock Rally
Equities will have to try a little harder (and probably a lot harder) if they
Can The ‘Everything Rally’ Continue? McElligott Weighs In
Stocks are a bit of a sideshow right now. It’s all about bonds. Indeed, equities
Stocks And The 2024 Election: An Early Preview
2024 is an election year is the US. Maybe you’re aware. If this US presidential
Is The Treasury Squeeze Over?
The “everything rally” is back in the US. As discussed at length in the latest
Did Janet Yellen Just Deliver ‘The First Rate Cut’?
Ahead of this week’s all-important Treasury refunding announcement, Nomura’s Charlie McElligott suggested Janet Yellen might
BofA’s Hartnett On Oil, Santa Rally Odds
The absence of an escalatory crude rally in the presence of the Israel-Hamas war is
Apple Results: Good Enough?
Apple on Thursday reported a fourth consecutive quarter of negative sales growth. Revenue of $89.5
Powell Again Falls Victim To Fed’s ‘Extreme FCI Reflexivity’
Jerome Powell this week re-learned a lesson taught time and again over the course of
BoE Sticks With Innovative ‘Confused Hold’ Strategy
As expected, the Bank of England kept rates on hold Thursday for a second consecutive
‘Persistent’
Jerome Powell was asked on Wednesday if, and to what degree, the recent selloff at
The One Word That Matters In The New FOMC Statement
The Fed kept rates on hold Wednesday, as widely expected. There was no chance of
Treasury Heeds Term Premium With Coupon Caution
Treasury got the message, apparently. The term premium spoke, and at least someone was listening.
Yen-sanity
The yen was on track for its weakest close in more than 30 years on
The Santa Melt-Up Blueprint
In “Canaries And Key Levels” and also in “Stocks Look Beyond GDP Barnburner To Price
Two Things: The Borrowing Estimate And The BoJ
Good news. I guess. Treasury slashed its quarterly borrowing estimate on Monday, which I suppose
Mike Wilson Doubles Down: No Santa Rally On Wall Street
Morgan Stanley’s Mike Wilson still doesn’t believe in a “Santa rally” on Wall Street. What
Canaries And Key Levels
Earlier this month, when the bank’s pseudo-famous “Bull & Bear Indicator” flashed a rare contrarian
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