“An era of extraordinary monetary policy is over,” BofA’s Michael Hartnett declared, dusting off a
Category: Markets
Could The Inflation Crisis Dissolve The Euro?
To exactly nobody’s surprise other than the economists whose forecasts again proved misguided, inflation in
Determined Hawks, Ambivalent Bulls
Markets felt all at once tense and disinterested following what it was fair to call
In Markets, Rationality Doesn’t Always Pay
Morgan Stanley’s Mike Wilson spends a considerable amount of time in his weeklies addressing “pushback”
Stocks At ‘High Risk’ In March, Wilson Warns
March is a “high risk” month for US equities. That’s according to Morgan Stanley’s Mike
How Much Have CTA And Options Flows Mattered Recently?
How much did systematic re-leveraging matter for the rebound in US equities from October through
Tran·si·to·ry
The usual first-of-the-month top-tier US data is split between two weeks in March. This week
As American As Apple Pie And Billionaires
I saw someone describe Warren Buffett’s annual letter as a “must-read” today. That sort of
Stock Bulls Don Blinders As Rates Explode
Even after the worst week for US equities since early December, it’d be hard to
Why McElligott Doesn’t Fear ‘Volmageddon 2.0’ — Yet
Last week, one of the most recognizable names on the sell-side weighed in on the
Liquidity, Earnings And One Bear’s Big Disconnect
Over the past week (or two or three) market participants latched onto a narrative about
Albert Edwards Echoes Wilson: Stocks In ‘Death Zone’
SocGen’s Albert Edwards agrees with Morgan Stanley’s Mike Wilson: US stocks are indeed in the
Zuckerberg To Cut ‘Thousands’ More Jobs: Report
Mark Zuckerberg’s “year of efficiency” is proceeding apace, apparently. Meta is gearing up for more
What The Fed Whisperer Is Reading This Week
I’ve said it before, and I’ll say it again: In my opinion, it’s not ideal
Why The Risk Of Profit Letdowns Has Never Been Higher
Never has the risk of downside earnings surprises from corporate America been greater. Or at
‘Death Zones’ And The Trillion-Dollar Liquidity Narrative
In his latest note, currently making the proverbial rounds, Morgan Stanley’s Mike Wilson channeled Jon
Fed Success May Go Through Shrinking Corporate Profits
The US may be headed for an earnings recession+, but compared to the rest of
Three-Card Monte
In the new week, markets will be treated to more key economic data impacted by
Stocks March To Their Own Drum
Headed into this year, a generic narrative about bullish equity sentiment went something like this.
The Mystery Of Oblivious Stocks
Recalcitrant stocks are “baffling” Wall Street, declared a Bloomberg headline. It was an accurate, if
‘No Landing’ May Presage Stock Selloff, Late-Year Recession
The likely result of a “no landing” macro environment in the first half of 2023
‘No Landing’ Becomes Consensus
If you ask Loretta Mester, demand across the US economy isn’t weakening as much as
Defiant Stocks ‘Taunt’ Fed By Ignoring Dramatic Rates Repricing
Over the past week, quite a bit of digital ink was spilled editorializing around the
Marko Kolanovic Warns Of ‘Volmageddon 2.0’ From 0DTE Option Craze
Since rising to the top of JPMorgan’s research ranks, Marko Kolanovic’s role has felt more
What $850 Billion Said About The Rally, The Macro And The Fed
Two-thirds of the nearly 300 panelists who participated in a closely-watched survey of fund managers
Only You Can Prevent Wildfires
Markets appeared to come around Tuesday to what I’d describe as the “neutral” character of
Kolanovic Calls Markets ‘Complacent,’ Cuts Risk Again
Markets are too complacent. That was the message on Monday from JPMorgan analysts led by
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