Market narration over the past month (and, really, over the past year) has revolved primarily
Category: Markets
A ‘Shocked’ Albert Edwards Asks: ‘Is Capitalism Dead?’
SocGen’s Albert Edwards has seen a lot over four decades in finance. As such, he
Jamie Dimon Delivers Annual World Review
Jamie Dimon and the modest bank he runs have a new corporate purpose. JPMorgan will
Kolanovic: Stock Rally ‘Makes Little Sense For Rational Investors’
JPMorgan’s Marko Kolanovic worries investors are exhibiting signs of irrationality. “For a rational investor, we
Cartel Business
OPEC+ managed to engineer a modest spike in crude prices after blindsiding markets with a
OPEC+ Shocks With Surprise Output Cut At Delicate Juncture
I’m always amused by references to “assurances” from OPEC or, more recently, OPEC+. OPEC is,
Deposit Flight And More Fed Hubris
If only it weren’t stale. Admittedly, I had a hard time getting excited about the
Goldman Sees No 2023 Upside For Stocks Despite Likely Fed Pause
Fed officials would prefer it if you’d countenance another 25bps rate hike — one for
The Entertainment Business
Regular readers know I’m usually the very last person to employ Warren Buffett quotes (indeed,
$14 Hershey Bars
If you, like me, have noticed that the price of certain impulse buys in the
Money Market Magnet Attracts $5.2 Trillion
Money market fund assets ballooned to a new record over the last week, closely-watched data
A New Tech Bull Market?
The Nasdaq 100 is in an ostensible bull market. Maybe you heard. I say “ostensible”
The Long, Docile Bear
Is the bear market over? If that’s your question, you need to specify. Which bear
Recession ‘Here In A Few Months’
Jeff Gundlach says a recession may be right around the corner. That isn’t news. If
Bonds Doubt Their God. ‘Stocks Are Next,’ Wilson Warns
It’s no secret that Morgan Stanley’s Mike Wilson suspects consensus is too optimistic on the
Interview That Collapsed Credit Suisse Costs Saudi Financier His Job
Late last week, in “We’re Scaring Ourselves Into Bank Runs Now,” I suggested Credit Suisse
Buying The 2023 Fed Pivot May Be A Bad Idea
Jeff Gundlach thinks it’s likely the Fed will be compelled to abandon their “higher for
Global ‘Dash For Dollars’ Turns Acute
Global dollar demand is evident. Last Sunday, I suggested the Fed’s dollar swap announcement+, made
We’re Scaring Ourselves Into Bank Runs Now
On Friday morning, while documenting what was shaping up to be a rough session for
Deutsche Bank In Spotlight As CDS Blows Out, Shares Dive
Never a dull moment. Banking crisis headlines enveloped Deutsche Bank on Friday, when sharp moves
Cash Reigns
The rush into cash continues unabated. Money market fund assets ballooned by an additional $117.4
11 In A Row: Bank Of England Hikes Again
A day on from the release of data showing food inflation in the UK exceeded
Some Additional Hikes. Maybe.
“How confident” is the Fed that America’s banking crisis is “contained,” a reporter from the
Fed Delivers Dovish Hike Amid Bank Crisis
“The US banking system is sound and resilient,” the Fed insisted Wednesday, while pulling the
The Biggest Confidence Game In History
Much of the debate around how the Fed should approach the tradeoff between the inflation
The Crisis That Wasn’t?
A pre-FOMC limbo found investors biding time. It didn’t feel like a “crisis” day. Indeed,
Rates Shorts Suffer ‘Stop-Out Of Their Lives’ Amid 8-Sigma Trend Shock
Whatever happens from here — where in this case that means even if bank contagion
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