On Friday, on the firm’s Q3 conference call, Morgan Stanley’s James Gorman described himself as
Category: Markets
McElligott Explains ‘Stock Reversal For The Ages’
Thursday’s reversal in US equities was one “for the ages,” as one mainstream media outlet
Dimon Steers JPMorgan To Solid Quarter Despite Macro Storm
“There are significant headwinds immediately in front of us,” Jamie Dimon said Friday, in remarks
Bank Of England, Markets 1. Truss 0.
Bank of England governor Andrew Bailey deserves plaudits. I guess. Earlier this week, while speaking
‘Ample Tradable Opportunities’
Plainly, something was “amiss” in equities on Thursday, although I’m not sure “amiss” is the
Fiscal Fold? Truss May Blink On Taxes After Market Crash
Earlier this week, I wondered if the Bank of England might be attempting to enlist
‘More Work To Do’
Market participants weren’t amused with the hottest read on US core inflation in 40 years,
If It Could Go Wrong, It Has
News flow has turned almost uniformly foreboding, which I suppose could be a precursor to
‘Test And Fail’: The Worst-Case Scenario
Earlier this month, BofA’s global equity derivatives team warned of a “test and fail” of
US Inflation Unbowed As Producer Prices Accelerate
Anyone hoping for signs of cooler inflation in the US (so, everyone), was disappointed Wednesday,
Is The Bank Of England Playing 3D Chess With Liz Truss?
More than a few observers suggested Andrew Bailey was either oblivious or crazy on Tuesday
Markets Are Sick. QT Is Dead
“Signs of sickness are growing in markets,” Nomura’s Charlie McElligott said Tuesday. It was a
SEC Comes Knocking At Bored Ape Yacht Club: Bloomberg
Regular readers will fondly (or not) recall my three-month foray into Web3 and decentralized finance.
Breaking: Fed Goes Broke
The people who control the money are broke! Fair warning: This is a heavy sarcasm
IMF Serves Up Lavish Banquet Of Doom
It’s not lookin’ good. That’s the short version of the IMF’s new World Economic Outlook.
UK ‘Mixes Uppers With Downers’ In Wild Policy Debacle
A glaring policy disparity is emerging in the UK, and I don’t just mean between
Linker Madness Forces Bank Of England Further Down Rabbit Hole
LDI funds in the UK “have made substantial progress” over the past week in addressing
Dimon, Jones, Socrates And Wood
Sometimes (ok, pretty much all of the time) I wonder whether we, as market participants,
‘Unanimous? Really?’: Cathie Wood’s Open Letter To Jay Powell
Regular readers have heard the story more times than most probably care to recall. I
Chips Ahoy!
Wars, wars everywhere. Lost in the macabre daily news flow out of Ukraine Monday was
Still Meeting Outside The Bunker. For Now
For those weary of war and macro doomsaying, the week ahead will be an arduous
Earnings Season Is Here!
Earnings season is upon us, and that’s not necessarily a good thing. The “profit reckoning”
Plenty Of Pain. Still No Gain
“Fed officials won’t relent on path to 4.5% and may move higher,” one headline declared
R** And The Funniest Thing You’ll Read All Week
The topic du jour across markets and macro in October is the “breakage” discussion. Posed
75 Minutes To Midnight
As you might imagine, the September jobs report was widely viewed as confirmatory for another
Investors Flee Screaming To Cash Amid ‘Armageddon’ Overhang
Cash isn’t trash anymore. Maybe you noticed. Ray Dalio did. “As John Maynard Keynes is
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