I’ve offered the snark that “life is transitory,” which, while true, isn’t helpful. A cohort
Category: Markets
Mechanics Of The Post-FOMC Bear
The post-FOMC trade (which I typically define as the day of the decision and the
The Christmas CPI Party That Wasn’t
Regardless of how things turned out on Wall Street Friday, risk sentiment was plainly on
Treacherous Vibes
The specter of ongoing rate hikes set against decelerating economic activity and persistent inflation isn’t
McElligott ‘Feels Pretty Emphatic’ About This Fed Take
The word “shock” was bandied about on Thursday to describe the Fed’s new dot plot,
‘Owl’ Lagarde Shows Talons As ECB Language Turns Aggressive
The ECB might’ve just become the most hawkish developed market central bank, an unfamiliar role
Hiking Into The Stagflationary Abyss
A divided Bank of England raised rates for a ninth consecutive meeting on Thursday, closing
Unfinished Business
The Fed wants “substantially more evidence” that inflation is on a sustainable path lower. That
When Doves Try
As expected, the Fed raised rates by 50bps on Wednesday, capping a tumultuous year defined
China Reopening: What Could Go Wrong?
The Chinese government — or, more aptly, “the Xi Jinping regime” — postponed the most
Howard Marks Sees ‘Sea Change’
During the pandemic, I stopped covering Howard Marks’s memos. For a time, I even stopped
Bond Bulls Fashionable Again. BlackRock Isn’t Buying It
Notwithstanding the recent rally that found 10-year US yields below 3.5% on Tuesday following another
‘A Massive, Years-Long Fraud’: SEC Makes Case Against Bankman-Fried
“From at least May 2019 through November 2022, Bankman-Fried engaged in a scheme to defraud
Here Are The Criminal Charges Against Sam Bankman-Fried
“From at least in or about 2019, up to and including in or about November
Record 90% Of Fund Managers Say Inflation Has Peaked
Global growth expectations might’ve bottomed this month among fund managers. That’s according to the December
Samuel Bankman-Fried Is Under Arrest
“Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the US Government,”
Kolanovic Goes Underweight Stocks, Warns Of ‘Potential Risk Event’
Late last month, JPMorgan’s Marko Kolanovic said that by this time next year, central banks
Central Banks Set For 225 Basis Point Hiking Flourish
The December FOMC meeting is the marquee event this week, but Jerome Powell won’t be
Fed Finale: What To Expect From 2022’s Last Meeting
This time last year, the Fed was busy disavowing “transitory” as a description of the
Is The Fed Trying Hard Enough?
Rates aren’t high enough yet. If you like tautologies, that’s the best way to explain
JPMorgan Ponders ‘Armageddon’ Scenario
“Pause is not enough.” That’s one of four possible macro scenarios included in JPMorgan’s 2023
Goldman’s Clients Fear ‘More Bearish’ 2023
Goldman’s clients — some of them, at least — are more pessimistic about equities in
Will The Fed Give Up On 2% Inflation?
Fed officials have uniformly rejected the notion that it may ultimately be impossible to restore
Upbeat. But Not Really
The last of this week’s sparse US economic data was mercifully upbeat. Or as upbeat
‘Sell The Last Hike’
It’s fair to say markets are obsessed with the idea that the last Fed hike
‘The Spirits Are Down’
A handful of headlines sounded promising on Thursday, but by and large, they belied recycled
‘Capitulation Events’ And ‘Nightmare Scenarios’
The rates-driven, valuation compression stage of the bear market may be mostly behind us assuming
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