Fed hikes made cash great again. (Please don’t send me any novelty red hats.) From
Category: Markets
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
Goldman Sees ‘Choppy’ Stocks. Big Selloff ‘Unlikely’
Goldman’s David Kostin doesn’t expect much upside for US equities through year-end. That’s mostly because
Hard Landings, Bond Vigilantes And Angry Villagers
If you ask BofA’s Michael Hartnett, this is no time to get comfortable. “We use
Huawei Has Another New Phone. More US Sanctions Seen Inevitable
If you liked the Mate 60 Pro from Huawei, you’ll love the Mate 60 Pro+,
Apple Falls Far From The Xi
At a very basic level, it’s perilous when the most important company for global equity
PBoC In Record-Long Fight To Support Yuan. China Trade Still Weak
Absurd as this is in some cases, it’s best to just accept that the narrative
Two Bears Reflect On 2023
Late last month, I published “A Brief History Of 2023’s Macro Narrative Stop-Outs” which, as
More De-Dollarization!
Every few years, de-dollarization charges back above the proverbial fold in the financial pages and
The Dollar ‘Wrecking Ball’ Is Back
The “dollar wrecking ball” is back. If you didn’t know better, you’d be inclined to
MBS Moves To Keep Oil Prices High
Mohammed bin Salman is a forward-looking, progressive guy with big plans for his country. Just
Stock Rally At Crossroads With Bad Month Rising
If you ask JPMorgan’s Mislav Matejka, equities are a risky proposition right now. And not
The Thrill May Be Gone For Retail Gamblers
Is the thrill gone again for retail investors? Maybe. And to the extent everyday market
60/40 Religion Questioned With US Bonds Set For Historic Third Annual Loss
Last month served as a reminder of the peril inherent in declaring the worst over
‘Stocks Love Booms’
“Stocks love booms.” And fiscal largesse is conducive to nominal booms. Makes you wonder why
Is The Excitement Over?
With allowances and respect for August payrolls’ market-moving potential, equities felt inclined to settle down
Return Of The Melt-Up?
Muscle memory is a powerful thing. And in the context of an equities market where
In Brief: Squaring The A.I., Productivity, Rates Circle
Scarcely a day goes by when you don’t hear something about the potential for A.I.
Xi Watches 6% Stock Rally Evaporate In Six Hours
Now it’s embarrassing. Chinese officials watched a near 6% surge in Mainland equities evaporate on
China Halves Trading Tax In Bid To Rescue Stocks
Beijing on Sunday slashed by half a key levy on stock trades, the latest in
A Few Thoughts On The Dollar
Amid the Fed’s insistence on the “higher for longer” narrative, it’s all too easy to
You Didn’t Hold Your Breath Did You?
I’m hesitant to quote or otherwise amplify familiar bearish prognostications predicated on a set of
‘It’s Time To Accelerate Equity Investment’: China Demands Stock-Buying
China’s Securities Regulatory Commission held a “seminar” on Thursday. If you weren’t invited, count yourself
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