Risk assets weren’t enamored with another disconcerting US inflation report. US equities crumbled after data
Category: Markets
Oh, Look: Another Disastrous US Inflation Report
Market participants and policymakers hoping for additional evidence of cooling inflation in the US were
$600 Billion Is ‘Super-Bearish,’ Record Underweight Stocks
Sentiment among fund managers is “super-bearish,” according to the September vintage of BofA’s closely watched
For America’s Small Businesses, ‘Better’ Is a Relative Term
US small business optimism remained below the five-decade average for an eighth consecutive month in
The Most Important Thing Zoltan Pozsar Told Bloomberg
Over the past several days, I’ve fielded a number of reader emails about a discussion,
Wall Street’s Favorite Bear Plays The Hits. And One Miss
Stocks are innocent until proven guilty. Not in the court of Morgan Stanley’s Mike Wilson,
‘Extremely Mechanical’
If you’re wondering about the scope of mechanical flows which aided and abetted last week’s
On Eggshells
Risk sentiment was tentatively constructive to start the new week, and there was no mystery
Currencies In Crisis
Market participants should expect significant additional hand-wringing in the new week about the outlook for
Fed, Markets Fly Blind As Inflation Storm Seen Easing
It’s inflation week in the US. Actually, every week is inflation week in the US,
Breaking The Bank
In “One Trade To Rule Them All,” I characterized the yen’s worst year on record
A Real Issue
The summer rally in US equities was frustrating for some fundamental strategists. It didn’t align
One Trade To Rule Them All
If you ever make the (perilous) decision to spend every waking hour immersed in the
Bears, Bears Everywhere
More and more, fewer and fewer market observers are willing to countenance the idea that
Billions Flee Stock Funds Amid ‘Appalling’ Risk Sentiment
Risk sentiment is “appalling,” BofA’s Michael Hartnett declared. Or despaired. Investors ditched stocks over the
Harley Bassman Isn’t Optimistic About A Soft Landing
Despite fundamental indicators strongly pointing to an economic slowdown, that’s in the foggy future, while
The Fed Should Stop All Public Speaking Engagements
I doubt seriously the wisdom and utility of Jerome Powell (or any Fed official for
ECB Rendered Irrelevant By War, Energy Crisis
The ECB delivered a 75bps rate hike on Thursday, but it could’ve just as easily
Blank. Check.
Calling tops and bottoms in equity markets is, by and large, a fool’s errand. The
You Break It, You Buy It
The Fed is in the inflation fight for “as long as it takes,” Lael Brainard
‘Watch It Go’: The Yen And A ‘Quartet Of Grey Swans’
Admittedly, I ran out of creative ways to tell the same story about the yen
‘Make No Mistake,’ It Can Get Worse For Stocks
It’s been an especially rough year for US equities. In fact, 2022 was worse than
Don’t Panic About The Yuan. Yet
To read the headlines, you’d think the Chinese yuan had depreciated through record levels. Or
‘The Thrill Is Gone’ For Equities. And Your QT Questions Answered
For the better part of a dozen years, stocks were beyond reproach. Thanks to subdued
Stocks Go From Sacred Cow To Sacrificial Lamb
If Neel Kashkari was “actually happy” to see US equities fall following Jerome Powell’s terse
The Charge Fed Critics Miss Is The Most Terrifying Of All
The Fed and its many critics have at least one thing in common: They both
Soaring Energy Prices Belie ‘Cheapest Ever’ Energy Stocks
Besides USD cash, commodities are the only asset class that’s worked in 2022. Everyone can
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