If last year’s cross-asset malaise taught us anything, it’s that no correlation, no matter how
Category: Markets
Another De-Dollarization Reality Check
It’s not just your imagination, even if the narrative is (mostly) imaginary: De-dollarization is a
Money Market Assets Dive, Fed Backstop Usage Rises Amid Tax Distortions
US money market fund assets plunged by almost $70 billion over the weekly reporting period
Musk’s Margins
You wouldn’t know it from all the times I criticized him last year, but I
What’s The Fed Thinking? Ask ChatGPT
Notwithstanding terrifying warnings+ about “nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us,”
Morgan Stanley Posts Solid Results, But Provisions Surge
Morgan Stanley rounded out big US bank earnings Wednesday with a solid set of numbers
Rising Recession Odds Bring Out The Bond Bulls
I’ll say one thing for Hoisington’s quarterly letters: They’re efficient. The firm, which is synonymous
Untidy Goldman Results Suggest Solomon’s Pivot Still Work In Progress
I think it’s fair to suggest that some observers believe Goldman has lost its way
BofA Bolstered By Blockbuster FICC Haul, Solid NII
Last week’s big bank results suggested America’s largest financial institutions fared well in the first
Kolanovic: Market Risk-Reward ‘Heavily Favors Cash’
“Markets often bottom before the end of a recession, but not before the beginning of
The Bullfighter
Equities have proven remarkably resilient in the face of recent banking sector tumult and amid
The Simple Dynamic Most Investors Miss
Too many investors are missing a very simple, but very important, dynamic at the heart
Among The Giants
Bigger is better when you’re a bank. Big banks might contest that assertion depending on
JPMorgan, Dimon Pass Earnings Test With Flying Colors
JPMorgan kicked off big bank earnings with a very solid set of results, particularly under
Money Market Fund Assets Swell, Approach $5.3 Trillion
Surprise! Money market funds attracted another $30 billion over the latest weekly reporting period, data
From SoftBank To Apple, Capital Cringes At Xi
SoftBank and Prosus are selling more Alibaba and Tencent. That’s not the best news if
Fed Staff Saw Recession From Bank Stress, Minutes Reveal
The word “recession” came up three times in the March FOMC minutes, all in the
Goldman Changes Fed Call Amid Tight Credit, Mixed Official Messaging
The US is “certainly” past peak inflation, Tom Barkin told CNBC on Wednesday, following a
Fed Has $1 Trillion In Paper Losses. Projects $90 Billion In 2023 Red Ink
You’ve surely seen the figure by now: US banks were sitting on $620.4 billion in
Hikes, Specs And Techs
Tech shares may be “over-discounting” prospective additional relief from bond yields, traders are increasingly convinced
Is The Banking Crisis Over? Ask Google
I’ve spent a lot of time over the last four weeks discussing the psychological side
SVB And The Anarchists’ Dream
Seemingly every day, somebody, somewhere, publishes a new postmortem on last month’s turmoil in the
Backup Plans And Alternate Realities
The outcome of the Fed’s next meeting will, for all intents and purposes and assuming
Bank Lending Plunge, Deposit Flight Raise ‘Sudden Stop’ Concerns
As you might’ve heard, commercial bank deposits in the US fell a tenth week late
Hike In May And Go Away?
For what it’s worth, which wasn’t much on a holiday Friday, the market reaction to
Merciless Money Market Magnet Attracts Another $49 Billion
Almost $50 billion poured into money market funds in the week to April 5, data
The Profit Recession Is Finally Here (But Don’t Tell Anyone)
You wouldn’t necessarily know it from “Greedflation” banter and the perception that corporations are engaged
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