Equities are disconnected both from macro and policy realities. That’s according to JPMorgan analysts led
Category: Markets
Wall Street’s Ardent Bear Is Sticking With It
Headed into this year, the buy-side had (begrudgingly, perhaps) come around to a pretty bearish
Profits And Prophecies
With 90% of market cap reporting, earnings season in the US is over for all
Bear Echoes
“2023 is in no way comparable to 2008.” How many times have you heard that
Money Market Assets Hit Fresh Record. Fed Backstop Usage Rises Anew
Inflows to money market funds slowed in the week to May 10, but total assets
BoE Mixes Hapless And Hopeful In 12th Rate Hike
The Bank of England hiked rates for the 12th straight meeting on Thursday, in what
An Uneasy, Untenable Calm
Are you still awake? Is this thing on? It’s easy enough to fall asleep on
Edwards Warns On Credit Demand, ‘Vortex Of Debility’ For Tech
SocGen’s Albert Edwards thinks we might be setting the bar a little too low when
Pondering Armageddon: What Happens If The US Defaults?
I’d like to think Joe Biden, Kevin McCarthy, Chuck Schumer and Mitch McConnell understand the
Quants Versus Mortals
Regular readers are familiar with, and probably a bit confused by, the remarkable disparity between
Kolanovic Sees ‘Dissonance’ In Markets. Warns Of Stock Selloff
JPMorgan’s Marko Kolanovic sees evidence of “dissonance.” Markets steadfastly refuse to give up on the
Wall Street’s Most Recognizable Bear Still Cautious
The sell-side’s most recognizable bear is still skeptical of any overtly rosy outlook for an
Global Stocks Seen Most Vulnerable To Bond Yields Since Dot-Com Bubble
I’ve said this before, and I’m quite sure I’ll say it again after today: The
The Juxtaposition And The Nuance
On the macro front, this week is all about the juxtaposition between the Fed’s senior
In Narrow Stock Rally, It’s All Mega-Tech
Much has been made of the recent collapse in market breadth across US equities, and
Another Weekend At Berkshire’s
Berkshire’s annual shareholder meeting was this weekend, which meant CNBC’s website looked a lot like
Hawkish Standard-Bearer
If you’re looking for dovish, conciliatory soundbites from Fed officials, Jim Bullard isn’t your guy
They Broke The Regionals. Sell The Last Hike
“Sell the last hike.” It’s a familiar refrain from one popular sell-side strategist, and he
Cook Says ‘Very Interesting’ A.I. Needs ‘Thoughtful’ Approach As Apple Beats
Apple is taking a “thoughtful” approach when it comes to “weaving” A.I. into its products.
Lagarde Hikes Seventh Time. Calls Inflation ‘Too High For Too Long’
“The inflation outlook continues to be too high for too long,” the ECB said Thursday,
Fed Tips End Of Rate Hikes With Inflation Still Miles Above Target
As expected, the Fed raised rates at its May meeting by 25bps in what could
A New ‘Subprime Is Contained’ Moment?
There was no rest for the weary Wednesday, as regional bank shares in the US
Short Vol ‘Manna From Heaven’
It’s been “short vol manna from heaven” lately, Nomura’s Charlie McElligott said Tuesday. This is
Loan Demand, Money Growth Plunge In EU. Inflation Loiters
As a matter of course, I employ sarcastic derision to document new evidence that inflation
Mike Wilson Isn’t Buying It
Wall Street’s most famous bear still isn’t buying it. Figuratively or, one assumes, literally. “At
First Republic Passes Away Peacefully. Is In Better Place Now
I have some bad news. After a hard fight, First Republic passed away overnight. It
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