Markets were treated on Wednesday to more anecdotes from businesses struggling with myriad imbalances created
Category: Markets
Another Head Fake? US Labor Market ‘Revving Up,’ ADP Says
US private sector employers added 571,000 jobs in October, data out Wednesday showed. The headline
What, Exactly, Is Going On In China?
China is coping with what counts as a “severe” COVID outbreak considering the Party’s “zero
Harley Bassman’s Trades For An Inflationary World
The preponderance of evidence suggests inflation is not transitory, the rub is that interest rates
Still Shouting ‘Selloff!’
Folks keep warning about an imminent selloff in equities, mostly because that’s what folks do.
‘The Worst Whipsaw Of All’
“Who had bull-steepening on their bingo card?”, Nomura’s Charlie McElligott asked, playfully, in a Tuesday
Vigilante Justice
Predictably, media coverage of the RBA’s Tuesday policy tweak was replete with nonsense. One particularly
Don’t Kill The Sacred Cash Cow
It’s no secret that the “broad” market isn’t very broad. History is replete with examples
At US Factories, A Compendium Of Complaints
At this point, getting a “clean” read on where we are in the post-pandemic economic
Back Up The Wall Of Worry
European stocks hit records Monday and Japanese shares surged, as global equities looked to build
Even If It All Comes Crashing Down Tomorrow
Even if central banks stumble into a policy mistake and it all comes crashing down
At Stake This Week: Credibility
The November FOMC meeting and accompanying taper announcement will garner most of the financial headlines
Sans Tantrum, Please
The Fed will formally unveil plans to taper monthly bond-buying this week, with designs on
‘The Markets Were Not Consulted’
In “Napalm,” I contextualized recent front-end rates fireworks by reference to a possible shift in
‘By One Full Year’: Goldman Shifts Fed Call Dramatically
One day, we may look back on the last several weeks and chuckle at the
The High Price Of Price Uncertainty
Anyone searching for evidence of a rebound in consumer sentiment in late October was disappointed
Taper Tantrum, Aussie Style
In case it wasn’t clear enough that some manner of policy shift is in the
Not For Me To Say
“Not for me to say.” That was Christine Lagarde’s assessment Thursday when, following the October
Marko Kolanovic: ‘Did The World Change Yesterday? No.’
The financial media was awash this week with headlines about flattening yield curves and what
ECB Confronts Global Rates Upheaval As German Inflation Soars
Over the past several weeks, traders began pondering active central banks and preemptive policy tightening
‘Mayhem’ In Aussie Rates As YCC Breaks
Yield-curve control snapped in Australia Thursday. I’m insistent on the notion that it’s never a
Central Banks Are Reinstating The Fourth Wall
Central banks may be reinstating the fourth wall. Following Janet Yellen’s decision to postpone liftoff
‘This Is Wild’: Canadian Rates Go Nuts On BoC Blindside
The Bank of Canada on Wednesday became the latest central bank to suggest (tacitly) that
Inflation And The Billionaires Tax
Taxes and inflation were in the news Wednesday. Or, put differently, the same macro narratives
Elon Musk And Our Future In Irrelevance
Because much of this wealth is tied up in stock, society benefits not via compulsory
The Real Takeaway From Tesla Fireworks
At regular intervals, I feel compelled to remind market participants that things don’t really work
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