Rates aren’t high enough yet. If you like tautologies, that’s the best way to explain
Category: Markets
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
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
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