There’s a historic ravine between reported earnings and cash flows in the US, and it
Category: Markets
Clumsy RBA Messaging Raises Risks For Indebted Australian Households
“Global inflation remains very high,” the RBA said Tuesday. “It will be some time before
Kolanovic Warns On Stocks As JPMorgan Sees ‘Boiling Frogs’
The fundamental outlook for risk assets is challenging. One strong week for stocks (let alone
Fate Of Bear Market Rally Hangs On Two Things
When Mike Wilson turns tactically (and relatively) constructive on equities, you might be inclined to
Wilson Pivots, Says Stock Rally May Continue. For Now
Mike Wilson has seen enough. For now, anyway. US equities may manage to sustain a
Traders Eye Big Week As Powell, US Jobs, Central Banks Loom
It’s a big week for the US economy. Crucial jobs data will be a verdict
No End Seen To America’s High-Stakes Inflation War
Where does it end? That’s the question now for market participants warily (and wearily) eyeing
‘Year Of The Bond’ Meme Powers $30 Billion Treasury Inflow
2023 was supposed to be the “year of the bond.” The thesis behind that mantra
‘The Secular Script’ For An Inflationary Epoch
“An era of extraordinary monetary policy is over,” BofA’s Michael Hartnett declared, dusting off a
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.
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