This week’s earliest price action underscored the peril inherent in leaning long duration into a
Category: Markets
‘Stocks Have Taken On A Different Personality,’ Mike Wilson Says
“Stocks have taken on a different personality” since the end of Q2 earnings season, Morgan
China Meltdown Worries Resurface With Evergrande Restructuring In Doubt
China’s property developers were back in the spotlight Monday, where that means they were shot
What If Bonds Don’t Rally In A Recession?
“Relentless” is probably too strong, so I’ll use “persistent” instead. Given the persistent rise in
Triple-Digit Oil Calls Suggest Floor Under Energy Stocks
Goldman’s clients are asking about oil prices, and particularly about the read-through of recent increases
Bill Ackman’s Bombastic Bond Short
This is the part where I’m supposed to tell you US bond yields are destined
Fade The Fed?
“We continue to see five- to 10-year real and nominal rates as attractive, but markets
The Primary Objective
Through trial and, hopefully, not too much error, the Fed will discover what degree of
Fed Leaves Door Open To Additional Hike. Signals Fewer 2024 Cuts
The Fed on Wednesday kept rates on hold but left the door open to one
A Word On Savita Subramanian’s New, Bullish S&P Target
Pretty much every week, someone writes in to ask about the alleged disparity between the
Fed Should Look In The Mirror For R-Star Clues
If the Fed’s searching for clues about what drives shifts in the market’s perception of
Mike Wilson Likes Energy Stocks
Is it late-cycle? Does a hard landing loom? Or is the US economy on the
Goldman Says Buy VIX Calls. ‘Major Market Corrections’ Occur In October
If you see a “major market correction” next month, it may not be a coincidence.
What To Expect From The September FOMC Meeting
Obviously, the Fed intends to keep rates on hold at this week’s policy gathering. Several
The IPO Market Lives!
The post-pandemic ECM bonanza came to a screeching halt in 2022 as the Fed ratcheted
Hard Landing Harbingers
“Ignore the signal at your own risk.” That was the stark warning from Cam Harvey,
Stocks Enjoy Largest Inflows In 18 Months. But There’s A Caveat…
On Friday, a trader told one financial media outlet that the bull case for equities
ECB Braves One Final Hike As Forecasts Show Rising Stagflation Risk
The ECB on Thursday raised rates for a 10th time, in what was likely the
China Delivers RRR Cut In Latest Bid To Resuscitate Economy
“The economy continues to recover and its internal driver keeps strengthening.” That’s according to the
‘What Could Go Wrong?’ Charts
It’s a long story, but I have a deeply ingrained aversion to what I call
SocGen Sees S&P Returning To Highs, Then Falling Sharply
If you ask SocGen’s Manish Kabra, US stocks may fall 15-20%. But not until they
Underperforming Cash, ‘Splattered’ Vol
Fed hikes made cash great again. (Please don’t send me any novelty red hats.) From
Rising Rates Amplify Equity Market’s Haves, Have-Nots Divide
We might’ve entered dead horse-beating territory by now when it comes to documenting the disparity
China, Japan Shout Loudly At Plunging Currencies
Last week, I said the dollar “wrecking ball” was back. From a kind of “feel
Mike Wilson Isn’t Giving Up
“Multiple expansion has moved ahead of where macro fundamentals dictate fair value to be,” Morgan
How Much Further Can The Dollar Run?
In “Hard Landings, Bond Vigilantes And Angry Villagers,” I mentioned the somewhat daunting conjuncture of
Stocks Finally Stumbled. What Now?
There’s elegance in simplicity. Analysts, strategists and market participants of all shapes and sizes spent
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