The rates-driven, valuation compression stage of the bear market may be mostly behind us assuming
Category: Markets
Press Pause
Rate hikes from developed market central banks continued on Wednesday. Admittedly, we might’ve passed the
Goodbye ‘COVID Zero’
China eased COVID restrictions on Wednesday. Again. Amid a rapid rollback of testing requirements across
Smoke Signals And Fantasy Worlds
The Fed is planning to hike rates beyond 5% in 2023 and company analysts are
This Ain’t Over: Macro Discomfort Returns For The Holidays
Muted markets and subdued sentiment looked more like visible discomfort by noon on Wall Street
Dimon On Crypto, Hurricanes And Cups ‘Runneth Over’
Jamie Dimon has a lot on his mind. And Dimon’s mind isn’t something he’s shy
Put ‘$5 Trillion’ In The Headline
The holiday slowdown beckons. If you know what to look for, you can see it
COVID Easing Versus Policy Tightening
Markets were muted and sentiment subdued Tuesday, as news of incremental easing in China’s COVID
Reversal Shocks
Notwithstanding a Monday bounce triggered at least in part by a robust ISM services print
The Terrifying Case Of $65 Trillion In ‘Missing US Dollar Debt’
“Off-balance sheet dollar debt may remain out of sight and out of mind, but only
Grand Reopening?
“COVID zero” in China is over. Not officially, and maybe not for good. But de
The Fed Keeps Proving Critics Right
I try to give technocratic policymakers the benefit of the doubt. I really do. For
It’s The Quiet Weeks That Get You
The data docket is a bit sparse in the US this week, and Fed officials
‘The Buy Signal Is Close To An End’
Is the rebound in risk assets sustainable? That question burns after the Dow rallied into
Recent Market Moves ‘Could Be Self-Defeating,’ Goldman Says
The rebound on Wall Street dodged a bullet Friday, when stocks managed to avoid losses
What One Popular Strategist Sees For 2023
I’ve said it before, and there’s no telling how many more times I’ll say it
This May Be Fed’s ‘Final Phase Shift’
On Thursday, in “Powell Didn’t Try To Kill The Rally. And That’s Notable,” I contextualized
Powell Didn’t Try To Kill The Rally. And That’s Notable
There wasn’t much America’s beleaguered technocrat in chief could’ve said differently this week to short
He Hates These Jobs!
[Editor’s note: For my younger readers, the title of this article is a classic American
Mourning Lost Mayhem
I assumed (wrongly, perhaps) that in the era of “everything analytics” brought to you by
Grey Skies
“It’s not so much a Black Friday as a grey one,” SocGen’s Kit Juckes wrote,
(Mis)informed By ‘Corporate Views’
“Way” back in August, following a better-than-feared Q2 reporting season for corporate America, it was
China In Dire Straits
Just two days after China’s cabinet tipped the “timely and appropriate” use of monetary stimulus
No Profit Pollyannas Allowed
At this point, I’m not sure anyone is as optimistic about the outlook for US
Gamma Flip Suggests Stock Serenity. For Now
Things have calmed down. For now. In a year defined by uncertainty and cross-asset turmoil,
Bankman-Fried: FTX Collapse Is ‘Sh—y Thing’ That ‘Sucks’
Below, find the letter Sam Bankman-Fried sent to FTX employees this week. Typically, I’d indulge
Lags And Stepdowns
The word “lags” came up nine times in the November FOMC minutes, released into a
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